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CREDIT INTELLIGENCE LTD (CI1)

Click here for free access to this company's:
ASX, Legal & CGT Status

Former (or subsequent) names

 FROMTO
CREDIT INTELLIGENCE LTD28/05/2018
APAC COAL LIMITED28/05/2018

Shareholder links

Our website ranking of CI1: rating 2
(2 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Group
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details

ISIN: AU0000013518
Address: 24-26 Kent Street, Millers Point NSW 2000
Tel:  +61 2 9713 9495Fax: +61 (8) 9482 0505

Date first listed: 10/07/2008

Sector: Commercial & Professional Services Industry Group: XEJ
Activities: Debt restructuring and provision of bankruptcy administration services

News & Events

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The securities of the company have been suspended for more than three months. If an entity does not meet the 1 or 2 year deadlines, it will be removed from the official list. The removal will usually take effect from the open of trading on the first trading day after the deadline date.

10/07/2024

The company reported a loss of approximately A$11.8m in the unaudited consolidated financial statements for the twelve months ending 30 June 2024, primarily due to impairment loss on goodwill acquisition and business segment losses in Singapore and Hong Kong. The Board expects finalization of FY24 results in August 2024. The financial information is based on a preliminary assessment and has not been reviewed or audited by independent auditors.

21/06/2024

The Company's wholly-owned subsidiary, Credit Intelligence (Singapore) Holdings Limited, has entered into a share transfer agreement with SME Global Funding Pte. Ltd., to sell its entire equity interest in its partly owned subsidiary, ICS Funding Pte. Ltd., a company incorporated in the Republic of Singapore, in the amount of SGD165,000 equivalent to AUD186,000 on 31 May 2024. Subject to review by the auditor, the Group is expected to realise a loss of disposal of approximately AUD55,000, based on the unaudited net asset value of ICS as of 30 April 2024. Upon completion of the Disposal, the Group will no longer have any interest in ICS, and ICS will cease to be accounted for as a subsidiary of the Group. ICS has maintained a non-aggressive approach to mitigate credit risk exposure and continues to experience a decline in revenue. Having considered ICS's performance and the market conditions in Singapore, the Board sees the Disposal as a positive step forward to reallocate resources and focus on the core business of the Group. The Disposal is commensurate with the Board's strategy of a full review of the Group's portfolios as the Board is in the process of trimming down its operations.

31/05/2024

Following the completion of the investigation by the Official Receiver's Office on Hong Kong Debt Management Services Limited, and out of the 16,000 appointed cases with King Wong and Jimmie Wong appointed as the trustees of HKDMS, approximately 4,000 cases have been completed and either released or pending release. For the ongoing cases, Jimmie has been officially removed by the financial creditors and replaced by Mr. Julian Wong in 70% of the cases and 30% of the cases are either awaiting the removal of Jimmie or pending a decision from the financial creditors. There have been 220 adjourned creditors' meetings. About 10% have been resumed, and King and Julian have been officially appointed as trustees of HKDMS. Due to internal procedure requirements, ORO and the financial creditors are still holding up the nomination and appointment of King and Julian as trustees for new cases.

22/05/2024

The company releases its notification of cessation of securities.

16/05/2024

On 28 March 2024, a letter was provided by ORO with respect to the outcome of the investigation. ORO has conducted a full investigation into: the complaints by Jimmie concerning the administration of the bankruptcy cases; and legal proceedings filed by Jimmie. The Investigation included a special field audit on 28 February 2024 and interviews with the joint and several trustee-in-bankruptcy Jimmie (on 13 March 2024) and King Wong (on 14 March 2024). Based on the information obtained from the Investigation, no evidence of any material irregularity was found in those areas within the purview of ORO. The board of directors of the Company is pleased with the outcome of the Investigation.

09/04/2024

The securities of Credit Intelligence Ltd were suspended at CI1's request on 12 February 2024. CI1's securities will now continue to be suspended from quotation under Listing Rule 17.3.1, due to CI1's inability to confirm compliance with Listing Rules 3.1 and 12.2 as set out in CI1's announcement released onto the ASX Market Announcements Platform today, 12 March 2024. CI1's securities will remain suspended until such time as ASX is satisfied with CI1's compliance with the Listing Rules, including Listing Rule 3.1 and 12.2 and that it is otherwise appropriate for CI1's securities to be reinstated to quotation.

12/03/2024

On 7 February 2024, the Official Receiver's Office, issued two letters, a letter to Jimmie and King Wong, and a separate letter to Hong Kong Debt Management Services Limited, a wholly owned subsidiary of the Company respectively. ORO has 1) acknowledged that Jimmie and another have instituted the Action and 2) acknowledged receipt of a complaint containing allegations against HKDMS and King in relation to the administration of bankruptcy cases. ORO has been in contact with each of King / Jimmie and had conducted a full investigation which commenced on 28 February 2024 including an audit of the bankruptcy cases. Pending the outcome of the investigation and with the consent of the financial creditors, ORO has adjourned or will adjourn the creditors' meetings and the coordinating financial institution will also withhold nominating King and Jimmie as joint trustees. The Company notes that a creditors' meeting is required by law for the appointment of trustees for bankruptcy cases. Once the trustees (assigned by HKDMS) are appointed, HKDMS will commence case management.

12/03/2024

The suspension is requested to be in place until the earlier of commencement of trade Thursday, 14 March 2024 or pending an announcement in relation to receipt of letters from the Hong Kong Official Receiver's Office. The request for a further extension is to enable the Company to make fulsome disclosures in relation to the letters from the Hong Kong Official Receiver's Office (ORO). The Company is uncertain as to the financial position of the Company and unable to fully inform the market (notwithstanding its efforts to inform the market), as the ORO investigation remain ongoing.

07/03/2024

The company lodges its Half Yearly Report and Accounts.

29/02/2024

The suspension is requested to be in place until the earlier of commencement of trade Thursday, 7 March 2024 or pending an announcement in relation to receipt of letters from the Hong Kong Official Receiver's Office.

29/02/2024

The suspension is requested to be in place until the earlier of commencement of trade Tuesday, 27 February 2024 or pending an announcement in relation to receipt of lettersfrom the Hong Kong Official Receiver's Office.

20/02/2024

The securities of Credit Intelligence Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of CI1, pending the release of an announcement in relation to receipt of letters from the Hong Kong Official Receiver's Office.

12/02/2024

name changed from APAC Coal Limited

28/05/2018

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    06/02/2024Alex Luis155,000$0.119$18,445
    04/10/2023Mark Ng-100,000$0.137$13,700
    02/03/2023Russell Goodman-500,000$0.161$80,500
    16/05/2022Russell Goodman580,000$0.115$66,672
    02/09/2021Russell Goodman2,000,000$0.016$32,000

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Michael PixleyChairman22/04/2016
    Alex LuisNon Exec Director01/02/2024
    Vincent LaiNon Exec Director17/05/2018
    King WongExecutive Director17/05/2018
    Mark NgExecutive Director29/12/2020
    Russell GoodmanDirector22/10/2020
    Louisa HoCompany Secretary

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Doman WongNon Exec Director01/01/202401/03/2024
    Jimmie WongExecutive Director, CEO19/05/201813/12/2023
    Will BanksCOO10/05/202131/12/2021
    Brett CrowleyNon Exec Director06/06/201724/10/2021
    Wilson LimExecutive Director01/10/201918/12/2020
    Anthony HoNon Exec Chairman14/06/201828/11/2020
    Mark PatonIndependent Director25/02/202028/04/2020
    Mel AshtonNon Exec Director17/05/201825/02/2020
    Krista BatesDirector17/05/201826/11/2018
    Boon QuahNon Exec Director08/03/201019/05/2018
    Luke HoExecutive Director03/09/201519/05/2018
    Lim YewChairman14/10/200831/05/2017
    Zane LewisDirector05/12/201424/04/2016
    Sam Di-GiacomoChairman28/06/200705/12/2014
    Koh KiatExecutive Director06/09/200731/05/2014
    Idris AbdullahNon Exec Chairman06/09/200714/05/2014
    Phuah HockExecutive Director05/01/201028/11/2012
    Jimmy KonNon Exec Director19/03/200828/12/2010
    Paul PiercyNon Exec Chairman06/09/200728/02/2010
    Maurice DrewNon Exec Director06/09/200715/09/2009

    Date of first appointment, title may have changed.