Ann: Notice of AGM/Proxy Form and Board Update, page-71

Hi Mario,

They may need to raise money if the losses start to pile up and they can't borrow short term against their assets. Given the vibe it doesn't seem like that is a big concern.

They already have a leased factory in Thailand it seems from the photos that are being posted and are already assembling bikes in Malaysia Indonesia Latam and India so there doesn't seem to be need for more money to fund factories.

Also as you would know it's really not good capital management, for a company like VMT which has the ability to earn a much higher rate of return on capital than property will deliver, to own realestate.

When I asked why they did a couple of years ago I was told the only reason they own the factories in China instead of leasing them is because the manufacturing licences which are very valuable and difficult to get are attached to the realestate not the company. Owning them is driven by risk management.

Interestingly the recently retired director K Chen was a senior executive in the government body that issues the licences. He introduced Super Soco to VMT when he discovered they were operating out of unlicensed premises and would have been instrumental in getting the liscences.
He earned his directors fees it seems.

I'm into thinking positive and punting on tomorrow being an upper rather than a downer so buying as many as people will sell which unfortunately isn't many.