Monday 18 April 2011

Leighton's Dubai unit may need bail-out

Al Habtoor Leighton, an affiliate of Leighton Holdings, may need a cash injection from its parent firm if its ongoing legacy projects are not paid on time, its top executive says.

"We have reported to our three shareholders the sensitivities of cash and cash collection. (If) we don't get paid or something gets delayed then we need standby facilities," Al Habtoor chief executive said Laurie Voyer said.

"At the end of the day, the shareholders need to come to terms with how to take the business forward."

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