Anti, would you please publish the quote from CEO that backs up your point 'CEO was always of the impression...'
I think it is fair to say overseas expansion is the only way to grow this business but that is just common sense given the type of business MMA are in. To remain in Australian waters where would growth have come from? So while it is fair to assume overseas is the only way of growing, I would like to see where that is explicitly said by the CEO - not saying it wasn't just like to see it.
Why has he got it wrong? Are you seriously suggesting we judge the outcome less than a year into expansion when there has subsequently being an industry downturn? You may say the timing was wrong but is that correct? Perhaps it was a now or never deal to buy Jaya at that price at that time (nothing else suitable). In three years time, If we are struggling to make a dollar and the balance sheet is stretched to the point of needing fresh capital just to survive then I would agree he got it wrong.
The lease in Singapore is interesting; I must have missed that bit of important news, would you please post a link to verify the Singapore government will not renew the lease.
MRM Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held
