Anyway, another article on DSME caught my eye yesterday. Looks like the are having major cash flow problems which most mean surely that frivolous spending on such things such as putting sponsorship money into the worst team in the professional divisions must not be high on their list of priorities.
Daewoo Shipbuilding logged operating losses of 4.5 trillion won in the first three quarters due to a delay in the construction of offshore facilities and order cancellations, raising concerns that it may face a liquidity shortage.
eujin wrote:If DSME stepped in after STX then that might not have helped much on the fair-
play side;DSME is suspected of committing accounting fraud by hiding at least 3 trillion won of losses intentionally over the last few years. KDB is directly responsible for the company’s losses and accounting fraud suspicions because the lender is the largest shareholder of DSME, having more than a 30 percent stake.
http://www.hellenicshippingnews.com/kdb ... pbuilders/ Amazing that they could lose 5 trillion won this year after completing delivery of 20 giant container ships for Maersk as recently as June and supposedly signing a new contract for another USD1.8billion for the next generation of ships. Are they I wonder bidding below cost, hiding the losses and topping it up with taxpayer money? In Korea? Surely not.
If only one lesson gets learnt, it should be don't get your financial investment advice from football fans viewtopic.php?p=57139#p57139
Is anyone going to jail over the ref-bribing? Are there enough fully qualified refs for next season once the ones involved in taking payments have been ditched?