Any one with accounts knowledge cane elaborate this further...

Any one with accounts knowledge cane elaborate this further please?

(b) Going Concern
As at 30 June 2014 the group’s consolidated balance sheet shows a net current liability position of $158m.
The current liability position includes $174m of payables to Slipform Engineering International (H.K.) Ltd and
subsidiary companies, including PT Slipform Indonesia (the “Slipform entities”), for contracts related to projects
under construction. The Slipform entities are related parties as described in Note 15. The Slipform entities have
advised the Company in writing they are willing to defer USD120m of these payables until 31 October 2015, or
until the Company is in a position to pay these obligations, thus providing time for the Company to secure
additional sources of funding via project debt financing and or other means. However the Company has not yet
been able to formalise these arrangements because the terms of the Standard Chartered Private Equity (Singapore)
Pte. Ltd. (SCPE) Note Agreement require SCPE to provide their approval to terms linked to this deferral
arrangements and are requiring the Slipform entities and the Company to enter into an intercreditor agreement
satisfactory to SCPE. Whilst discussions in regard to this document remain ongoing agreements in connection with
the intercreditor agreement have not yet been reached.
In the meantime, EWC continue to consider additional sources of funding to complete the projects under
development. In this regard, EWC is currently in advanced negotiations with a number of parties and remain
confident they will secure the required levels of funding at the appropriate time to successfully progress and
complete the projects.
On this basis, the Directors are of the opinion that the company can continue as a going concern and therefore
realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the
financial report. This 4E report does not therefore include any adjustments relating to the recoverability and
classification of recorded asset amounts or to the amounts and classification of liabilities that might be necessary
should the company not continue as a going concern.