I rather they just pay down the debt and make it a net cash business for now... with debt rate going up, this is not the time to increase financial leverage unless there's strong rationale, e.g., for acquiring a business in distress for cheap. HT&E is not a good business, so it's better SWM stay clear of it unless they can acquire it for less than $200M.
Ann: Appendix 4D & Half Year Financial Report, page-13
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