MF analysis today, page-58

Londoner

Financial engineering isnt step 1. Debt is too high and all stakeholders need to see what SGH can do in next 17 months and we know NIHL is material in context.

Dr Who is right. Doable but tedious. AG seems to have seen the consolidation going on and SGH really wants to carry on adding scale. Financial engineering can get SGH on the front foot again and it is a large part of the advantage of its listing. Debt too high - needs to be reduced.
Dual listing ? London Frankfurt?

The latest SSAP seems to have removed part of the advantage because it is now more difficult for banks ti finance WIP. I think they have to go back and look at the SSAP ( for accts lawyers architects professionals) and remember it would not be appropriate WIP valuation in manufacturing ( where WIP stock nuts bolts worthless in a firesale). Remember it is unlisted accts drafting those new standards.

mel