RE: WOE is me...27 Sep 2019 06:49
A number of negative events have induced a fast decline in Walcom's balance sheet :
- 50% reduction in Pig population due to African Swine Flu.
- Customers defaulting on payments owed.
- Forced Disposal of it's Thai division to meet liabilities.
- The passing of Non-Executive Director.
Chief Executive Mr. Chi has provided a unsecured loan to keep the Company afloat which is commendable, but without additional support, the future looks bleak.
Walcom has a long and valuable history of Scientific knowledge relating to animal feed and animal husbandry and has recently passed "The inspection of the Feed Quality and Safety Management Regulations" of the Ministry of Agriculture.
Walcom's future has never been more important, as when ASF is controlled, Walcom's core competencies will be in high demand. I hope the Chinese Government recognize this and offer some support. Best of luck for the future Walcom.