NUH Action Group, page-88

  1. 10,048 Posts.
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    There is something really odd about this Salutica debt
    Salutica lodges a writ with the Malaysian High Court and wins a default judgement $2.612 mln AUD ($1.717 mln USD)
    NUH doesnt even bother appearing nor is this debt disclosed anywhere nor does Miller or the board make reference anywhere to this
    Salutica lodges its claim with KPMG who accepts the claim though says it has yet to adjudicate it. It is first listed on page 6 of the 26/8/24 KPMG report.
    Yet on page 26 of the 10/12/24 KPMG report NUH claim that Salutica is actually a debtor and owes it $569k AUD, KPMG again state they have not adjudicated upon this, which ever whay it goes. The question is how does something so substantive whether its a debt or a credit not get mentioned anywhere in NUH financials or reports. But on page 40 of the same report acknowledges that NUH was subject to an adverse finding by the Malaysian High Court and owes Salutica $1.7mln USD. No where in any of KPMG's reports is NUH's claim sunstantiated with any evidence or documents. All KPMG state is according to (NUH) directors. (What does that mean? are they just going by the word of Miller and Co? Salutica actually has a court judgement against NUH and from the KPMG documents NUH has only the directors word)
    Then on incredibly on page 5 of the supplementary report 13/3/24 under Orecchio DOCA it states 'Orecchio, who acquired the debt owing to Salutica, a substantial unsecured creditor of NUH, will not prove in the Creditors Trust for the purposes of a dividend"
    This is before the DOCA vote, Orecchio acquires the Salutica debt. So it is a debt that NUH owed not the other way around as NUH directors claimed.
    There is something very strange here and needs to be looked at. This is a substantive and material amount and why would Orecchio simply "acquire it"

    It even gets stranger just to switch topics, Page 15 17/2/2025 KPMG report they state that NUH and Realtek had been in formal discussions regarding a potential supply agreement since early 2024 having been working together under a MOU executed in May 2022. So that renders all of Millers statements during 2023 re OEM deals, launches and even "production" during the Automic conference as invalid. He had no agreement. He has basically misled invetsors and the market. And why would he agree to hand over over $5mln to Realtek with no agreement in place only an MOU which has never been produced and KPMG has not evidenced it either. Does it even exist? Or was it a handshake nudge nudge wink wink arrangement

 
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