Dr Daz,Many of your points conveniently or inadvertantly...

Dr Daz,

Many of your points conveniently or inadvertantly conflate macro and industry level issues which are then superimposed onto PAX.

Arguably the delays you are referring to in Indonesia (if true) are at best historical, not having due regard to the latest focus in South East Asia and the major development push experienced in 2012. Have you totally discounted the legislative framework that has been put in place in recent times and the moves to improve processing times? Things are happening.

While Penola was a disappointment, how is this relevant to the current signing of the PPA and funding currently happening in Indonesia?

So after peeling away what is relevant and irrelevant; what are your views on the particular merits of the current PPA and funding and what that would do for PAX (assuming they both get the green light)?

Is your skepticism of the timeframes for DP taking into account the existing infrastructure?

Keep the analysis on the transaction at hand.