They started conversions in the Dec 2021 Qtr, the plant in China was already shutdown due to high power costs. Whilst I'm not certain, I'd say the Chinese staff were offered employment in Sarawak. Thats what I'd do in the situation.
The conversion had been set in stone and even the high FeSi prices couldn't convince them to do otherwise.
Whilst basically OMH management are doing an OK job, there is some items that could be done a different way. I think that refinancing should be done now, in fact they've left it too late already in my opinion. The 25% CMSB stake finance could've been added into the refinance deal. When Adrian Low talks about 1 to 2 years for refinancing, it should be brought forward. No point in waiting.
Mr Low senior needs to start earning his US$2 million salary
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