Well the cap raise is raising 3.9% of market cap, the div (pre...

Well the cap raise is raising 3.9% of market cap, the div (pre franking credit) is 4.8% of market cap - based on $3.77. So shareholders are still up about 0.9% cashflow wise - assuming franking credits offset tax. For the shareholders who are not tax payers, and those with HVN in their super - obviously it is a desirable outcome. compared with not paying the bigger div. the deal is still cum entitlement and cum dividend - so there may be some slight shuffling of deckchairs.

Malaysia is a gamble. Looks like we may have an FTA coming with Indonesia, which shares, pretty much, a lingua franca language with Malaysia, and many cultural ties. Not sure if this is part of managements decision - positioning themselves to have this expansion option. If Indonesia was to have the same income per capita as malaysia does now in 10 years time, that would be massive, as Indo is only about 40% ATM.