jamaica bid, page-21

Hi Delinvestor,

You seem to be in a very generous and charitable mood re: M. West’s article. Any journalist who refers to his previous totally discredited articles (such as coldboxes etc not existing) in order to fabricate a smokescreen for his current confusing and uninformed comments needs to be treated with much more suspicion. The benefit of the doubt can, and should be given to people who, in good faith, make a mistake. M. West, however, is an unrepentent repeat offender.

Given the undeniable substandard quality of his writings, the issue we all might want to address does not so much relate to how many substantive errors are contained in his article (s), but rather refer to the timing of their release. Why does he feel, he needs to write about EWI’s Jamaican power plant tender, after the first selected bidder failed to pay the contractual bond and a further 2 bidders are still waiting if EWI can raise the required bond and become the successful bidder. The real questions to be raised are always very simple: in whose interest is this article and who benefits from it. One answer which we all know to be totally false relates to M. West being concerned about transparent business and company governance practices, for if this were his concerns, he would take care to report facts rather than fabrications, innuendoes and smears and he would not (deliberately) blur the distinction between EWC (a publically listed company which is not involved in this Jamaican power plant bid) and EWI (a private company) which has actually submitted the Jamaican power plant tender). Given this, the two most obvious answers to the question who benefits and in whose interest from this article are (not in order of priority): 1: the remaining 2 bidders and 2: those who want to make money by shorting EWC.

EWC’s recent share price movement indicates that the second answer has already (partially) come to fruition and time will tell whether M. West can also claim to have been contributing to the number 3 and number 4 bidders having a crack at this Jamaican power project.