Hi BB,
We all know MFS has a complicated business model. Inter-company loans, cross-holdings on top of high gearings made itself vulnerable in the current market condition, and made the calculation of half year result a huge if not impossible task.
The suspension, the sale of assets is part of the effort to present a set of acceptable numbers to the markets. We all see how market punished Allco and City Pacific when they had to change numbers after the first release.
I don't want to deny there have been more bad news coming out last couple of weeks, including the lawsuit against Craig White by Citi.
However overall, I feel the current board have taken the necessary steps to address the crisis.
Alphasigma
-Agree to disagree
MFS
mfs limited
