Ann: Half Year Accounts 31 December 2020, page-9

interesting points of view, and nice to see solid discussion on the business. Basically its a matter of unlocking the potential of Riyo. The big question is whether the board, management and current structure are able to do so.  

@CaymanCeltic thanks for pointing the personnel changes, hadn't realised Turner and Choo had left.

I'm guessing as part of their streamlining and cost cutting, a number of roles may have had to been rationalised, combined or even relocated. As Hoofa had pointed out time and time again the biggest cost of delivering their products is staff/labour cost. So a gradual move of numbers to the Manila hub would lower the overall labour costbase. I suspect with the growth focus pivoting around the Asian operations including launching Riyo there, and Singapore based Arthur Fernandez taking the GM of Riyo role (effective July 2020) that perhaps this required some realignment of Asian based Riyo personnel. Additionally with the Riyo product transitioning from the beta/development phase to full launch a different skillset may now be needed?

Agreed though, if the company culture and customer service is their "moat" then they best tread lightly to ensure this remains a point of differentiation.

I've from time to time kept an eye on the position vacancies, and over the past few months nearly all the roles I've seen advertised seem to be Manila/Asian based.




Time will tell, but should hopefully be a company defining 6mths, whether that be in the form of new acquisition, Riyo progress, or some further bigger ERP deals which see revenue and the books back in black. only a couple years ago management were providing the following guidance. One would hope we're not far off these levels again soon...



all IMO, DYOR etc....