So are you question the value of LSX investment into One Asia? Could it be worth less than the $10m they have on their books. So LSX investments of AMR and KAS are well underwater and One Asia value is questionable. These are very poor results for LSX and the debacle of KAS and AMR reflects poorly on the directors.
As I wrote on the KAS thread
Robin Widdup is a director of Lion Selection and is Chairman of AMR. Mike Brook is a director of Lion Selection and was a director of Kasbah who approved the merger with AMR. Robin as a director of AMR would have known the perilous financial state of AMR and surely would have discussed the implications for Lion Selection and Kasbah. The decision to agree to merge Kasbah with AMR must have caused reputational damage to Robin, Mike and Lion Selection - AMR has significant debts and a mine on care and maintenance as its not economic.
LSX Price at posting:
40.0¢ Sentiment: None Disclosure: Not Held
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