update next week, page-11

Im expecting minimal news if any @ Mondays EGM.

This will most likely just be a very brief meetg to deal with the formality of changing their name to Nexbis.

The forthcoming AGM is the more likely time for us to get some further meaningful updates from the company.

good to see the volumes startg to pick up - with a couple of crossings thrown in - hopefully the sellers are nearly out!

Though i remain to be convinced that the persistent weak SP is a result of an abundance of sellers as opposed to a lack of buyers.

The instos evidently are not fully sold on the etc story - they want to see the cash (as do most members of this forum) - this i believe is largely a function of a general lack of trust around asian contracts!

Its all well and good for the company to bill their asian clients for work performed under these contracts - but the real test is when (or whether) these debtors will actually pay!

Also, unless im missing something, the deal flow so far this year appears to have all but dried up - i think the china gas deal is the last deal that etc consummated around nov/dec last year - so progress in this area seems to have flatlined despite what seemed like a raft of imminent deals 6 - 12 months ago (ie vietnam, brunei, malaysia transport, - the full list i recall was quite extensive.)

I remain positive overall on etc - it has a great business model with fat profit margins and first class management - but the lack of meaningful updates for most of this year leaves me with an uneasy feeling.

Does anyone else share the same sense of ill ease - or is it just me?