A Summary for you on Kollakorn Thailand. September 2011 Independent Valuation by RSM Aust P/L of $68.9 Million to $78.81 Million. Richard Sealy was thrilled. Valuation in 2015, $21.82 Million. Valuation in July 2018, $6.95 Million. How can a Company lose so much Value? What did we do if anything to to investigate what was going on?
Revenue since 2012 to 2018 and excluding 2016, where we completed an Airport Contract, has averaged $90,500 per year.
Expenses from 2012 to 2018 and excluding 2016 due to Airport Contract, has averaged $1,050,790 per year.
Total Losses from 2012 to 2018 and excluding 2016 due to Airport Contract has averaged $1,071,761 per year.
KKL Corp Ltd Share of losses for the same period has averaged $341,534 per year, which equals 31.9% overall.
Richard Sealy KKL former Managing Director was a Director of Kollakorn Thailand from 2012 to 2018.
All of this information has been found in the Annual Reports of KKL Corp Ltd. from 2012 to 2018.
We know that our current Suspension from the ASX has been caused by a number of issues, not the least being Kollakorn Thailand. The major reduction in value since 2012, and the extremely high expenses, supported by very low Revenue, makes one ask questions regarding our Thailand Investment.
The total purchase price of the Company's interest in Kollakorn Thailand has been $6,461,652.
I have sent this information to KKL Mgt in recent days and am awaiting a response.
I have also been asking questions of KKL Mgt since Jan 2018, re the Costs and other activities with KKL Thailand that require serious investigation, so far not much back other than it is "Complex".
We are in a hopeless position, Minority Shareholding in a Private Company, no Board Representation, and no chance of getting our money back.
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Kollakorn Thailand an absolute disaster
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