"I wonder how well that insulates the main Corp" USinvest. What...

"I wonder how well that insulates the main Corp"

USinvest.  What happens in Malaysia stays in Malaysia.  As I read it all the LYC liabilities (and assets including cash and profits) in Malaysia are held by the LYC Malaysian entity. So if this entity goes belly up it does not affect the material assets of LYC in other countries, including Aus.  So LYC could say "stuff Malaysia, rot in your own mess" at any time but in so doing the parent would need to write down about $900 million in assets.  A bit of an inconvenience to shareholders in the ASX listed LYC.  It is no accident that Earst and Young implied the risk as a going concern applied to the entire LYC structure.  The above is my view based on experience in doing hundreds of international JV deals where the parent company always insisted that each deal be done through a 100% owned subsidiary created for the purpose.  Alternative views will be appreciated.