I thought the bank syndicate was taking it easy on MRM. What...

I thought the bank syndicate was taking it easy on MRM. What difficulties? Forcing them to sell their assets then extend the principle repayment for 2.5 years is not being difficult. Being difficult is force MRM to raise capital at these diluted level, sell assets and pay up or else go bankrupt.

So MRM is getting a lot of breathing space with the lenders. And that's always a good thing.

As to asset write downs... I'm not too bother by that. The only problem that would cause would be breaching certain ratios the bankers would want, but they seem to be fine, for now, with it so it's just a good way to not pay taxes for a while.

Asset sales... can't keep everything and can't sell them at your preferred price. So yea, they're sold at the depreciated book or below... so that's a loss.


I can't predict the future. Toll might very well walk away from deal and MRM will have to talk to the bankers again. But I doubt that. $52M isn't exactly a big figure for Japan Post.

Oil price... even the guys at OPEC can't believe their recent cut extension didn't bring the oil price up. So I have no chance of guessing when it'll go up. But it will.

Why? Oil ain't oil. Fracked oil aren't as sweet as conventional ones.

That and with cheap oil prices of late, trains, planes and automobiles aren't going to be investing in fuel efficiency initiatives. That's one of the aim of glutting the market. Putting new green energy, clean tech out of business.

But let's wait and see. One thing's for sure, if I ever make any money from MRM, I bloody earn every penny of it.