Elevated Liabilities RatioA relatively high liabilities-to-assets position leaves the company more exposed to interest rate moves or funding shocks. Even with improving leverage, elevated liabilities can constrain strategic flexibility and increase fixed servicing costs, making long-term planning more sensitive to macro shifts.
Execution Reliance On Debt ReductionThe company's improvement narrative depends on continued execution of debt reduction and cash conversion plans. If operating cash flow or asset dispositions underperform, leverage metrics could deteriorate, limiting investment capacity and elevating refinancing risk over the medium term.
Limited Scale And Market LiquidityA small headcount and modest trading volume suggest limited operational scale and lower market liquidity. This can restrict the company's ability to rapidly scale operations, attract large institutional capital, or pursue sizable M&A without dilutive financing, constraining long-term growth optionality.