Bond investors are only too aware of the accounting maxim that revenues are vanity, profits are sanity and only cash is reality. Sino-Forest has been brought back to the real world. It has failed to meet a deadline to publish its results, delayed the final report of an investigation into fraud claims and will miss an interest payment. It is considering its options. These are limited.
债券投资者实在太看重“收入是虚荣，利润是理性，只有现金才是真”这句会计箴言了。嘉汉林业(Sino-Forest)被带回到了现实世界。它未能在截止日期内发布业绩，并推迟发布了有关欺诈指控的最终调查报告，此外它还将无法偿付一笔到期利息。眼下，它正考虑其它备选方案，但选择十分有限。
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