It makes the Navantia supply ship choice by defence procurement seem insightful.And it keeps getting worse
DSME collapse likened to Enron - Splash 247
Korean Shipbuilding is in deep trouble. Hyundai and Hanjin are likely to merge, STX has gone to the wall and DSME need a lifeline to survive. There is considerable opposition to the allocation of public funds to help the yards out given they have been cooking the books.
Sorry mods, I should have put this in the RAN thread
China is in similar strife
Does anyone know the extent of the financial due diligence conducted during the bid process? And could that have been the major reason for the choice?
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