Evil Knievil: I live in hope
Never miss an issue of Master Investor Magazine – sign-up now for free! |
Caribbean Investment (LON:CIHL) announced a few days ago that the 31st March 2018 accounts would show a receivable of the order of $30 million due by the Belizean government. This has been confirmed by Court Order and might therefore be expected to be paid up later this year.
If I were the auditor I would provide against the bulk of this $30 million since the historic conduct of the debtor hardly inspires the dispassionate observer. On the other hand, CIHL is a citizen of Belize and is not free to snub the host government. In any event what would be the purpose of making such a provision in public?
I do not know what Belize’s external debt is, but unless it is serviced properly with judgements against it met on time, Belize is denied access to raising more money. This must weigh upon Belize’s government. So I live in hope.
Not merely is that debt due but also there is also the huge sum due by the Belize government to Midway Investments. So, quite a lot swings on the settlement of this $30 million.
With luck, CIHL shares are worth vastly more than the current 21p.
*****
The Danes have banned Muslim women walking round with, as Boris Johnson puts it, letter boxes in which eyes alone can be identified. (As far as I am aware no non-Muslim women go in for this public presentation.) This seems a good idea on the part of the Danes. Leaving aside the need to read a face in a Court room there is the relationship between citizens on the pavements and public thoroughfares to take into account.
Some loons claim that BoJo is guilty of promoting Islamophobia. This is pure drivel. All that is underlined is that this country is not culturally Islamic yet.
Comments (0)