Ann: Company Update and Corporate Presentation, page-83

Hmm could management be over compensating for criticism received in the past about over promising and under delivering?

Underwhelming presentation however I believe the fa is still compelling and that the negativity is a result of many buying in on the euphoria of the blue sky potential of the previous presentations of which the situation has clearly changed hence the pivot away from Sino.

Just to put some context around things. I work for a multinational EPCM/EPC firm that operates across a variety of sectors and while I am primarily based in the execution side of the business ie engineer and construct I have spent a fair bit of time in BD between projects. The reason I mention this is that in the past we have deployed questionnaires to prospective clients (albeit with varying levels of success) and they serve a variety of purposes.
For a firm like kpo who deliver a custom product and service it is highly advantageous to understand exactly what your clientele want or need. In addition you want to gauge their appetite and timing so as to focus your energy on those most likely to engage, hence the commentary about those files most advance.

Finally this is a long term hold for me and part of that reason is because of the industry they are operating in. Nothing happens quickly, with capex approvals for the majors taking months or even years, if as I suspect a number of these may not be standalone installations but as part of greater brown fields expansion or maintenance programs.