AWR Lloyd worked with a listed Asian energy group to develop a medium term financial planning model. The group had a complex portfolio of intermediary holding companies and businesses in different countries. We modeled the cash flows, debt schedules and intra-group flows and loans to establish funding requirements and possible excess or under-gearing outcomes. In one year the company had high gearing but wanted to execute a large (multi-billion dollar) cash acquisition. AWR Lloyd advised on maximum gearing potential, divestment strategies and equity capital raising schemes to facilitate the acquisition.