QEX - QEX Logistics

[Brain]

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]

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 "?

[Dassets]

Can you please name all these companies? How many NZ listed companies have failed in the last 20 years?

[percy]

Can you please name all these companies? How many NZ listed companies have failed in the last 20 years?

Intueri Education Group....Danny Chin.
Mainzeal Group...Richard Yan.

[Balance]

Can you please name all these companies? How many NZ listed companies have failed in the last 20 years?

CBL
Feltex
Pumpkin Patch
Pike River
Fortex
Intueri
Wynyard
Plus SMS
Snakk
PGC

Then there’s the finance companies :

South Canterbury Finance
Hanover
Strategic Finance
Capital & merchant
Lombard
Nathan Finance
Etc … all up 51 & in excess of $7 billion of wealth destroyed

[ralph]

Intueri Education Group....Danny Chin.
Mainzeal Group...Richard Yan.

Lets not let facts get in the way of being PC Percy

[nztx]

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 ?

[Dassets]

CBL
Feltex 2010
Pumpkin Patch 2015 when it closed all stores, delisted 2017, was gone for all money years earlier
Pike River 2012
Fortex 1994
Intueri 2017
Wynyard 2017
Plus SMS 2010
Snakk 2019
PGC 2018 Listing migrated. Hasn't failed.

To be fair the above delisted years after failing. Hmmm did miss Richina which seems to have the greatest legal consequence(so far) run by a Mr Richard Yan Esq.

Then there’s the finance companies : errr not listed but thanks for the memories.

South Canterbury Finance not listed
Hanover
Strategic Finance
Capital & merchant
Lombard
Nathan Finance
Etc … all up 51 & in excess of $7 billion of wealth destroyed

Dates added above. How about modern times?? I mean Fortex is virtually 30 years ago

[Brain]

Dates added above. How about modern times?? I mean Fortex is virtually 30 years ago

Your lucky that Balance didn’t go back to 87 which many of us have long memories of. Some of the guys that ran the companies where investors lost a lot of money were given knighthoods.

[percy]

Your lucky that Balance didn’t go back to 87 which many of us have long memories of. Some of the guys that ran the companies where investors lost a lot of money were given knighthoods.

1987 The lunatics took over the asylum.!!.
And yes some of the wide boys reinvented themselves and did extremely well,while others did not know any better and re offended.
Some where on Sharetrader there is a thread "directors to avoid" or some such name.I lot of people on it.Thankfully I have a long memory.