Originally posted by Naipu
Episode 2 "Got Links?"
Episode 1 went ok for a Pilot. 15 likes as of now, keep them coming and we will keep producing riveting content.
So we had a secured loan that wasn’t announced as secured to an unnamed company that CuDeco knew the real name of before they announced it.
Fast forward to the June 2018 quarter.
https://www.asx.com.au/asxpdf/20180801/pdf/43wzxkct7kcygz.pdf
Again page 4 of the financials
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Interesting that they fail to tell the truth in 8.1 e) but then partially provide the full company name in Section 9.6 notes. (The full name being PT. Kemala Shipping, a company that would be extremely hard to find information on without the “Shipping” suffix)
Now for anyone that missed it.
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Let that sink in
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I’m not sure whether this is just another of the companies many typo’s but it seems that since the last quarterly we have gone from a 3.0mil USD loan @ 3.0% per annum to a 2.0mil USD loan
at 3.0% PER MONTH.
Let’s have a look at PT. Kemala Shipping shall we.
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No one familiar there, lets pick some random company and see if we can get a match. What about, umm
PT. Bright Wit Investment Holdings, interesting name.
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I think it’s safe to say these two companies are run by the same people and that the majority of the names appear to be Chinese and not Indonesian.
But who is PT. Bright Wit Investment Holdings?
Back to Australia
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And who do we find in the Shareholders with a 36.36% stake?
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I guess you now know why a Chinese ran Indonesian Shipping Company would benefit from having a First Registered Mortgage on an office and a bunch of donga’s in Outback Australia.
Hope they feed the fish.
Naipu
I doubt ASIC would be even looking at CDU in such depth as you. The only concern for them would be the failure to submit financials.
I'm expecting another NEW loan agreement to be announced very soon, so they can resume operations after the "Planned" shutdown. Funds must be extremely short at the moment and the Directors will need paying by Quarters end!!!!!
