is the counterpart company such a big issue?

I believe not,

1. Cash is coming in. On the 12 November, Lodge Partners had a FX loss of $5.74m on 30 June receivables, giving an adjusted receivable amount of $33.87m with payment received of $14.94m leaving an outstanding amount of $18.93m. If the counterpart company is a scam, as Qusia as suggested, then who wrote the cheque?

2. If, as posted here (by other) the Chinese Government are cracking down on agencies/departments having a financial interest in companies they contract too. Then I can understand NBS not wanting to talk (if they know) about the ownership of the counterpart company, at the risk of embarrassing their customer.

Malaysia is no hold pending the Government paying their bills, I think the CEO statement on the annual report says it all.

“We have also been disappointed with the rate of rollout from our Malaysian contract. Changes in senior leadership at the Ministry of Home Affairs, coupled with budgetary pressures causing a short-term reallocation of priorities, have resulted in unanticipated delays beyond our control. While we share investor frustration in fully converting this contract into cash flow, we are confident that these are merely short-term teething pains and that the Malaysian contract will create a strong recurring revenue stream for Nexbis with high barriers to exit.”

Most of the recent issue discussed on this board have centered on Qusia’s post and I believe his recent News article. You have to ask yourself what has a company director/investment banker/and part time journalist got to gain from such a prolonged presence on this board. I would be surprised if we hear from him again.

PA