Carillion

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Jan 18th 2018, 7:44 am

#46

weasel decentral

Knee deep and rising

Joined: Sep 2011

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Re: Carillion

Quote:

Originally Posted by DXBtoDOH

What is the biggest factor in determining whether a project is successful or not?

In my experience it's interfering clients who keep changing their minds during the design and construction stages. Too common out here.

Poorly conceived and designed at planning stage (at the client's behest probably) then it all flows from there.
Budget's already half shot by the time the innocent builder comes along and that leads to all the further resourcing issues, design changes etc. to finally kill it.

Jan 18th 2018, 7:48 am

#47

Millhouse

Lost in BE Cyberspace

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Location: Disneyland, Dubai

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Re: Carillion

Quote:

Originally Posted by UKCityGent

I would have to short your fund (for the interim) but as a side question why would you buy distressed assets in GCC - the lack of transparency and accounting practises alone would put me off

Of course. This also applies to the non distressed ones. Just appraised two opportunities in Egypt. The second guy was quite open about his double books which at least makes a change.

Jan 18th 2018, 7:52 am

#48

scrubbedexpat141

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Joined: Feb 2011

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Re: Carillion

Quote:

Originally Posted by weasel decentral

the innocent builder

Proper chuckle at that.

Quote:

Originally Posted by Millhouse

Of course. This also applies to the non distressed ones. Just appraised two opportunities in Egypt. The second guy was quite open about his double books which at least makes a change.

I'm assuming you're looking for the next layers then?

Jan 18th 2018, 8:03 am

#49

Millhouse

Lost in BE Cyberspace

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Location: Disneyland, Dubai

Posts: 15,887

Re: Carillion

Quote:

Originally Posted by Scamp

Proper chuckle at that.

I'm assuming you're looking for the next layers then?

I reckon two books is where they stop. Further value leakage will be done by having related businesses be suppliers.

Jan 18th 2018, 11:33 am

#50

littlejimmy

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Joined: Jul 2006

Location: UK

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Re: Carillion

Having just come from the UK, I can categorically state that it's much the same at home. Poor/late design, underestimating (to get the job probably) lack of resource, client changes....the last few jobs I've been on have all been the same. Just here you have even more change-prone clients with deep pockets and short arms, it seems.