Dubai Holding Not In Financial Trouble - Will Restructure Debt

As the GulfNews reports.

Dubai: Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee, yesterday said government-owned Dubai Holding does not have financial troubles.

"Dubai Holding doesn't have any problem," he told reporters after the annual general meeting of Alliance Insurance.

 And as it further reports.

The real estate, hospitality and financial investments company last month said it would be restructuring $20 billion (Dh73 billion) worth of debt, according to a Financial Times report.

Hmm.. 

It seems to me if you can't pay your debts as they mature, you have some sort of a problem.  It could be an operating problem with your business, you just aren't generating enough cash to pay your debts.  It could be poor financial planning.  You took on too much short term debt maturing around the same time.  Or it could be a market issue.  Due to the market structure or conditions, you couldn't properly manage your liabilities.   Whatever the case, it seems you've got a problem.

Once I didn't have a problem with my home.  Strange thing.  Whenever it rained, there was water in the house.  Now I surely didn't have any problem at all mind you.  But I did replace the roof.  I like to think of it as my way of contributing to the development of the local construction sector.