I think that Government will pay, the only question is : when and how much.
I noticed that few holders are not following current news or won't bother to investigate how the education sector is working.
If anyone will check past announcements from other RTO's, it is clear that any hold up in payments was not associated with changes to VET FEE sector.
It has more to do with Government regulators questioning operations of certain RTO's in view of breaching rules applied by ASQA.
IMO, Captain Cook College is one of 19 RTO's mentioned in The Australian, that is under ASQA and/or ACCC investigation and unless they calculate how many students should have their VET FEE Help cancelled - the payment is on hold.
I hope someone has better explanation why there is no payment when reconciliation of invoices was done for RTO's months ago.
Let's wait and see what SIT directors will say during AGM when questioned about ASQA and/or ACCC investigation.
Was/is there any investigation by ASQA/ACCC and how long the company was aware of it?
IMO this is the case and whether it should be announced to ASX is the matter for current holders to decide.
If my suspicions are correct, what is more important to a retail shareholder? Today's announcement on ASX of a long time director starting another year with a company or admission of SIT (or Captain Cook College) being investigated by Government regulators?
Being investigated does not mean being guilty of breaching the rules but IMO shareholders should be informed the same way as it was done by Intueri.
The problem is that after the announcement, Intueri shares crashed to few cents, even (like SIT) their income is not only from VET sector but like in SIT case, represented huge amount to the bottom line.
No doubt, it is a testing time for shareholders on how much the management can be trusted when it comes to price sensitive news.
Based on Intueri situation, announcement of ASQA investigation finished as "price sensitive".
SIT Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
