Well... "30 August". Let's not forget the year they missed the deadline and got suspended. Do not be surprised if that happens again.
I have no idea how KPMG will sign off on a going concern here:
- China trading in the toilet, not just between AUS and China but also between Singapore and China and US and China (which was their big pivot).
- Road freight gone - consumer demand down.
- Forwarding margins gone.
- They usually drop in H2, no summer crops.
- Declining cash balance; kept alive by them not paying themselves the rent for all the warehouses. The only reason they have cash is because they refinanced all their trucks.
And then, my continuous question; they bought a business with a leased plane as payment - and then cancelled the deal? What is going on with that??? Not one word has been mentioned.
Roger Tong is a happy dunce, Florence is devious, and the two boys are there just because they are family. KPMG, the NEDS and the chair are all completely clueless.
Tong, Tong, Tong and Tong - what is going on?????
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