I guess it all depends if you believe in Bahay or not. The...

I guess it all depends if you believe in Bahay or not.

The margins he hopes to make on the csg projects are huge.

I don't think there will be any more cap raising either, unless it's to fund a big project. But even then the big players will front up the cash.

He was happy to go for funding rather than raise more, to avoid dilution.

As for the interest, well if he's hoping to be making large margins using that cash, it doesn't really matter.

He has taken the company so far already, from practically nothing three or four years ago.

But it's these next three or four years where the true value creation comes imho.

5c may look high at the moment, but I think it'll zoom way beyond that in the next years.