QEX - QEX Logistics

**winner69** · 15-02-2018, 08:39 AM

Sort if says QEX could treble in price and still be cheap

https://www.nxt.co.nz/files/attachments/274477.pdf

**percy** · 15-02-2018, 08:50 AM

Director Danny Chan is experienced.
Not sure whether Bill's brother Conor English will last, as he may take over Bill's seat.
I am still wary of Chinese businesses and businessmen.

**percy** · 11-01-2022, 12:57 PM

Originally Posted by percy

Director Danny Chan is experienced.
Not sure whether Bill's brother Conor English will last, as he may take over Bill's seat.
I am still wary of Chinese businesses and businessmen.

Above posted on 15-02-2018
Even more wary of them today.

**ralph** · 11-01-2022, 02:49 PM

Originally Posted by percy

Above posted on 15-02-2018
Even more wary of them today.

Not meaning to sound totally non P C but I totally agree Percy seeing their disregard to shareholders & negligence ,this will taint similar businesses & businessmen .
"Where were the NZX & FMA before this company got up to its shenanigans & went broke?" Quote NZTX
I assume from this you are asking /posing the question or do you have any facts nztx that qex is broke ,just awaiting the next development sooner rather than later before the nzx becomes a complete laughing stock / exchange .

**nztx** · 11-01-2022, 10:29 PM

Originally Posted by ralph

Not meaning to sound totally non P C but I totally agree Percy seeing their disregard to shareholders & negligence ,this will taint similar businesses & businessmen .
"Where were the NZX & FMA before this company got up to its shenanigans & went broke?" Quote NZTX
I assume from this you are asking /posing the question or do you have any facts nztx that qex is broke ,just awaiting the next development sooner rather than later before the nzx becomes a complete laughing stock / exchange .

Did I suggest they are broke ?

or was that someone else ?

The following may give some indicators, bearing in mind Westpac appear to have pulled
subsidiary's Y's financing facility after $4m of stock allegedly vaporised without trace

The number of Board departures may suggest departing Directors not happy with what they saw

#136 Here:

DETERMINATION OF NZ MARKETS DISCIPLINARY TRIBUNAL 23 DECEMBER 2021

http://nzx-prod-s7fsd7f98s.s3-websit...780/362894.pdf

QEX has not made any submissions regarding costs but has noted that it has
limited financial resources at this time and that the recent Covid-19 lock-down
in Auckland has heavily impacted its operations. While it has not been
suggested that the global pandemic contributed to the breaches in this case,
there is no doubt that a Covid trading environment has resulted in a fast paced
and complex commercial environment where QEX and other companies must
make key business decisions at speed and when it may be difficult to predict
prospective market conditions. A small and closely held Listed entity, reliant on
external advisors, may be stretched and vulnerable in this environment.
Mistakes can be made but these breaches are consistent with a persistent
pattern of poor systems in place. That said, the Tribunal is mindful that
financial deterioration due to Covid trading conditions may be a factor in QEX’s
ability to pay its fine and costs at this time46.

#139 in same document:

The Tribunal also encourages NZ RegCo to work with QEX to determine how
best to make payment on its fine and costs (for example, agreeing a payment
plan).

In any case when or if things look decidedly terminal - will NZX then boot QEX off the Board
and start proceedings for recovery of any Penalties & Costs still outstanding ?

Guess that puts NZX ahead of the long suffering minority shareholders too

Perhaps a faster & less painful (for minority holders) formula may have been to make
Ronnie jointly responsible with QEX for the large dallop of penalties or better fully responsible
as sole remaining Director and longstanding Bigwig of the show ?

**ralph** · 12-01-2022, 08:09 AM

Totally agree nztx ,I think Ronnie will do what is best for him financially like most businessmen ,& the nzx cannot do much about that as shown, happen he needs more guidance .
A wee bit to play out yet but if he has no liabilities personally & covid carries on in the same or similar vein as it will for the next year plus then its a matter of time as he skims the top off .
Unless he decides having so much skin in the game he wants to persevere and sees the light at the end of the tunnel lol

This is where the nzx should be, getting him to making his intentions clear ,not focusing on punitive fines to make them look like they have teeth and are capable of doing their job .

**Brain** · 11-01-2022, 04:17 PM

Originally Posted by percy

Above posted on 15-02-2018
Even more wary of them today.

when I think of all the public listed companies that have failed due to incompetence and or dishonesty and it is a very long list they have all been run by white guys.

**whatsup** · 11-01-2022, 08:03 PM

Originally Posted by Brain

when I think of all the public listed companies that have failed due to incompetence and or dishonesty and it is a very long list they have all been run by white guys.

Brain or Brane, Is ronnie a "whi!e guy "?