CPK has high debt to be sure, but this in itself need not prove...

CPK has high debt to be sure, but this in itself need not prove fatal. Furthermore, their property developments look good and will eventually generate good profits.

Cash flow is critical however. Unfortunately CPK's cash flows are very weak and the company is vulnerable. In my view, for what it is worth, all dividends should be scrapped for the time being.

The fact that CIY also seems to be strapped for cash at the moment (refer to Mariner Cove, Raptis Gold Coast development, and Martha Cove problems etc) lends an added urgency.

Given these heretical views, I expect to be publicly flogged - after you have dealt with Michael West first of course.