As at 31 Dec 2015
Sengkang LNG plant - $US467m
Pagbilao Power station - $US371m
Pagbilao LNG Hub - $US149m
Other projects - $US37m
Total - $US1,024 billion !!!!
Anyway, they are fixed assets, so they are not going to walk away.
Asset backing of $A41cents.
Just a matter of when they can get the Pagbilao power station up and running. Based on the spending for 6 months to 31st December of $US63, should be March 2017. However if they can draw-down DBP loan, then should be earlier than this. Seems ridiculous that it takes so long to draw down a loan. Maybe elections in the Phillipines doesn't help?
A most Frustating Stock, page-4
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