The two new directors are investors from way back who have become directors to protect their investments in the whole scheme. They have been ‘locked in’ for a long time, it’s not like they have a choice of not going near anything they don’t like the look of.
There are value-discrepancy funds taking an interest in EWC, one even posts irregularly here in favour of SE which is a positive. If such a fund can be called an institution then we may see an institution on board, some fine lines being drawn here. Bank (HSBC still ?) is dependent on issue results so no wonder all avenues for placement being kept open.
Imv success hinges on local co-operation in both Sengkang and Pagbilao, this ’going it alone’ model using USD instead of local worked in the beginning but is a root cause of multiple problems in both projects and should change. I’m sure the new board members recognise this as well.
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