I agree with you Horsetrader. The risk should not be underestimated. If you go through the ASX announcement since 2013 you will note that the leading corporation is consuming about 11.5+MW of the 25MW about 40-50% of total billings for 1 customer. If the leading corporation who is a wholesale customer was to go to AirTrunk then there will be massive impact on earnings. Most news articles and forums will tell you the leading corporation is Microsoft. The locations that AirTrunk are proposing to set up are Sydney, Melbourne, Singapore and Hong Kong. These are the same locations Microsoft has a Datacentre presence in the Asia Pacific Region. Coincidence???
One thing working in our favour is that the agreements signed by the leading corporation are 5 years + 5 year option. So the first one comes up for extension in June 2018. So i am assuming the global customer Air Trunk is signing up isn't Next DC's leading corporation.
As long as the leading corporation stays in Next DC then there is limited risk to the share price.
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