Navygulf - It sure is a sad story. I came on board when Clive...

Navygulf - It sure is a sad story. I came on board when Clive was running the ship.I cannot forgive the directors in all this fiasco.I have learnt through many years in business both here and overseas that takeovers are always a difficult proposition and the real challenge is integration of the businesses and managing the different cultures. We always insisted on putting in our own management especially the CFO. If you can't manage the business then you shouldn't be in it.CL seems to have lacked the necessary experience especially if he acquired businesses without having the right people on his staff, a definite no, no. Any Chairman worth his salt would have put a stop to a recommendation that stretched the company to the extent that CL did to NMS with all the takeovers. Especially when it ended up being so highly geared.

I am sure this business still has great potential but unfortunately it has a very poor and incompetent group of directors who are not attuned to the business they manage and their responsibilities towards the shareholders, hence we find ourselves in this mess. I should have sold my shares when Clive thought CL was taking the comany in the wrong direction and so he sold his shares but I thought the company had potential so I hung in and am still hanging on.