The thing about the NWH contract with samsung is that it would...

The thing about the NWH contract with samsung is that it would have clauses in it which prohibit them from announcing information to the market. They can't make any other announcements because they don't have any other jobs on. Everything is pending on the outcome of roy hill.

Samsung are awesome at hammering down contractors and sending them bankrupt so it won't be great for NWH. They also have difficulty getting work because there just isn't any projects their size out in the big wide world except maybe a railway over east. This means overheads are huge compared to the revenue base which makes it hard for them to win work and can create a downward spiral (the risk of capital intensive businesses) Could be a case of severe down sizing and partial liquidation after roy hill is settled. Even still, the risk is definitely worked into the price so it'd be hard to justify selling.

These are issues BYL encountered a few years ago and they managed to get out of the issues but afterwards, they downsized significantly. MAH was slightly less successful.

I don't hold NWH.

On the topic of BYL work, I've heard the MRWA tenders are heading back to normal. It was at 20 tenderers per job for a while but down to 5-10 (again) now. I imagine average times are only 1-2 years away again. Can't see BYL sinking this late in the storm, not with the amount of potential fat to cut that they have and the low debt.