I noted that the secured lenders have reiterated their commitment to the USD
59 million in order to assist with the short term situation. I further noted
that with such assistance, and forecast of USD 8 mill EBITDA (no matter how
tenuous such forecast is) the secured lenders may consider they have
sufficient argument to convince BOT not to classify SSI as non-performing.
Standard Chartered indicated they will need to receive money if they are
going to be able to support such premise.
I suggested tomorrow's meeting will be interesting then.
Regards
Don