Boy it looks like this company has a very large level of short term debt. Man this company look highly geared. Not another Developer/ Builder in Trouble.!!!!
This statement from the company doesnt inspire alot of confidence. Can Rob Borbidge pull this for the edge.
''The board has decided to pay close attention to the debt
profile of the company. In current market conditions the
board wishes to significantly reduce debt and syndicate the
remaining debt on a longer term basis. The board believes
that it more likely than not that this debt restructuring will reach a satisfactory conclusion.''
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