Ainsleym, In regards to Asian manufacturing or JV, it has to be...

Ainsleym,

In regards to Asian manufacturing or JV, it has to be on the basis that you are able to create value or uniqueness beyond what is already available within these markets, Korvest can satisfy neither.

Just for a moment consider the relative size of the infrastructure projects already constructed within these regions, being serviced by a plethora of manufacturers doing the same stuff currently. But don’t take my word for it, just Google the words ‘Cable Ladder’ in any of the Asian regions (or around the world for that matter) and see how many hits it returns.

I think the very point that Korvest has flagged this to be the catalyst of their future growth strategy goes a long way to demonstrate the capabilities (or lack thereof) of the management & board. History shows that the debt free balance sheet didn’t occur in the past half a dozen years, it’s was an incremental build up prior.

All they have delivered over recent years is a maintenance plan to prevent profit erosion, that is beginning to change.

It’s a pretty lazy stock and so I don’t think there will be a lot of share movement, and most investors will probably see this latest profit downgrade as a bump in the road rather than something more deep rooted.

Time will prove it to be the latter.