Ann: AGM Addresses and Slides, page-8

'Very high risk'

They reported profits last year and again this quarter (statutory and cash), but we all stay skeptical and refuse to believe it without more evidence. I'd most like to see the expensive corporate debt fall below $50m - proof of progress, and interest savings. Last I saw, they allowed the cash at bank to increase instead.

I guess there's still a lack of confidence in the whole lending market, and the economy. Being uncertain of any big surprises, like lenders refusing to renew funding, or whether the 6.6% provisions is realistic.