working capital advance, page-11

Juke,
Thank you for your thought provoking post. I hope you are right about Mr Goh. At least it now appears clear we are talking about only one person with the Goh surname.
Of course you are right when you say that the ANN can be read positively, but like the commissioned research report it seems to have underwhelmed the market thus far!
Juke you seem to know a fair bit about the commercial scene in Singapore, so I wonder can I ask if their corporate governance standards are so different to ours? Is it acceptable in Singapore for a "name" to ignore normal commercial conventions in relation to indebtedness and conflict of interest while holding a position within a company? Further is it possible that our Board is heading down a similar slippery slope to that traversed by the RBA subsidiary in the plastic money corruption debacle (i.e. by believing that you need to drop your standards to accord with those of the people you want to do business with)?
For what it is worth I hope that FactorX and Kosenar don't sell up and move on. Our company does need their questioning and pressure to help it mature and grow up.
On balance I'll wait and see how things go.
I wonder whether anyone has considered a convertible preference share issue with a coupon of the same 12%....should be about right for a junk bond issue.