Article: class action suit filed against Shine, page-54

Agreed- SHJ is fundamentally undervalued based on cashflow.

Probably what is a bigger risk to the business is the adoption of AASB15 and whether or not we'll see any substantial write offs in WIP. In theory if big enough this could lead to a breach in banking covenants, but with cashflow performing I very much doubt that lenders are likely to demand any sort of recap that will dilute holders. I'm only thinking of this path because I think its good to be cynical when you're personally investing in a company's success.

Otherwise aside from PI industry wide -ve growth, I cannot see anything wrong with this company. The Morgan's presentation seems to indicate that they are looking at either reviewing or expanding lending.