Shortage of Capital at PGW for FY2021: Pt.1 Introduction
Quote:
Originally Posted by
Snoopy
The $235m capital repayment we shareholders got was well down on the $292m proposed in the Korda Mentha report (detailed on p36). I would have thought the suggested capital repayment we didn't get would have boosted the PGWRR balance sheet to the extent that all medium term worries were removed. Yet, somehow millions of dollars worth of capital must have been leaking from PGW in recent years, out of the headline sight of shareholders, to bring them to the precarious capital position that PGW is in today. So how did it all unfold?
Quote:
Originally Posted by
percy
Year 2020 forecast equity ratio is 46%. Very sound.
Actual Equity Ratio at balance date: Total Equity / 'Total Liabilities + Equity' = $156.702m / $459.453m = 34% "Not so Sound" Hmmmm.
SNOOPY