QEX - QEX Logistics

[ralph]

+
Obviously I could see you where just taking taking the Michael Winding up the thread with no meaningful input and probably should of ignored you, but I thought hey what the hell if you is goona take the piss so will I that bit coin eh



W T F

[whatsup]

So sad for the directors to have resigned en
mass, I would have thought that they once they realised the situation that they would have acted responsibility and stayed on board to correct the situation that they found themselves in - there was no one else who could have rectified the situation.
Call in the FMA was one of their options that were available imo but with their resignation no one had any control over events, I hope that the FMA takes a look at their actions after all were they not paid directors fees to guide the company on share holders behalf ?

[Wiremu]

Unfortunately, we don't know what action the directors took before or after, such as a call to the FMA, but one thing is for certain, with their legal exposure in staying as a director past a certain point they would have no alternative other than to resign. There is only one person who could assist in fixing the problem, but if that person is the problem, and if that person holds 70% of the voting shares, the directors have no realistic choice.

[Brain]

I bet that Ronnie is laughing into his noodle soup. So far he seems to be untouchable.

[ralph]

Unfortunately, we don't know what action the directors took before or after, such as a call to the FMA, but one thing is for certain, with their legal exposure in staying as a director past a certain point they would have no alternative other than to resign. There is only one person who could assist in fixing the problem, but if that person is the problem, and if that person holds 70% of the voting shares, the directors have no realistic choice.

Ronnie could be laughing, yet he has an awful lot to lose if the fma Investigate ,the whole debacle is geared to helping everyone except the the shareholders the directors have a get out clause and get paid ,nzx have a get out clause and get paid fine money handsomely for nothing, not helped anyone except themselves .
That fine money should have gone to the FMA to pursue an outcome .
AS Ronnie owns a majority it should have been left trading on the nzx and got hammered the noodle soup wouldn't taste so good then .

[Brain]

It seems that Ronnie has not filed the annual return for QEX at the companies office

“This company is now overdue in its obligation to file an annual return. If the annual return is not filed immediately the Registrar will initiate action to remove the company from the register.”

[whatsup]

It seems that Ronnie has not filed the annual return for QEX at the companies office

“This company is now overdue in its obligation to file an annual return. If the annual return is not filed immediately the Registrar will initiate action to remove the company from the register.”

Thanks Brian.

[Sideshow Bob]

It seems that Ronnie has not filed the annual return for QEX at the companies office

“This company is now overdue in its obligation to file an annual return. If the annual return is not filed immediately the Registrar will initiate action to remove the company from the register.”

None of which helps minority shareholders.

[ralph]

None of which helps minority shareholders.
And with nothing to hinder/take action against him he is operating with Impunity by the looks of things with complete disregard ,this is just silly that he can carry on like this

[Dassets]

It is up to shareholders to take action under civil proceedings if there is a cause of action available. Start spending legals. That is what a court system if for. The NZX framework has been exhausted which is why you move to the next step eg ATM

[Wiremu]

If QEX is removed from the Companies register it loses its legal status. If that happens the positions of shareholders vanish along with the legal status.

QEX shareholders need to be aware any shareholder has 20 days to object to the company being removed from the Companies Register when that happens.

Dassets' advice is spot-on.

[Dassets]

Yeah, you can apply to have it re-instated if struck off but that application needs to have a real reason and be its own process. A real reason can't be "I was meeting with Dolly" or "I was busy complaining on Sharetrader". Better to act while still registered. And who knows, it might even have a D and O policy that covers it - until it doesn't. So if shareholders go and consult a corporate litigator you will find out whether it is a goer. But the NZX is not there to recover money for you.

[Dassets]

I bet that Ronnie is laughing into his noodle soup. So far he seems to be untouchable.

Yeah, wonder how the investigation on missing stock is going? Anyone heard? Lucky Ronnie is on the job!

[nztx]

Yeah, wonder how the investigation on missing stock is going? Anyone heard? Lucky Ronnie is on the job!


If the SFO get involved then that might rattle the china in the kitchen very nicely ;)

[Brain]

QEX.co.nz is now a nonfunctional website. The address is now unit R 63 Hugo Johnstone drive penrose. When I am out that way I will have a look to see what is happening there.

[Pablo123]

Anyone managed to confirm if they are still operating in the Penrose premises/anywhere?

Or anyone heard from Ronnie directly?

Also notice Rich lister Brendan Lindsay was a 7% holder. I know it probably seems insignificant given his net worth, but wonder if he’s taking any steps?

Seems we may need to start co-ordinating a response, otherwise this will just fade into the ether….

[74M]

Or anyone heard from Ronnie directly?

Yes I spoke to him 2 weeks ago. He say's without providing any specific details;
- Has repaid all WPAC Bank term debt, with only an $100k facility left to be repaid
- The company is still trading at a small capacity
- Cant get trading finance from anyone.
- Can't find an auditor willing to do the Financial accounts
and so on and so on.....

He is also saying he will send out an update to all shareholders very shortly.....he said this to me about a year ago as well and nothing happened.

Ronnie's taking calls on his cellphone but not sure I can post his cellphone number on this site though??

NZX Regco is a total Rort.

[Brain]

The latest from the companies office takes a further step for the removal of QEX from the register. Clearly there has been no action from Ronnie.

“The Registrar intends to remove the company under section 318 of the Companies Act 1993. Refer to the latest Public notices (https://companies-register.companiesoffice.govt.nz/news-and-notices). If you object to its removal, you may wish to contact the company in the first instance or lodge your objection before 5pm on 22 Jun 2022 by selecting this link (https://app.companiesoffice.govt.nz/companies/app/ui/pages/compliance/6107251/removalObjection).”

[Brain]

I am pleased to report that Ronnie has filed an annual return for QEX on the companies office website. You can also see the current shareholder list in the documents tab so you can see if any of your mates have been caught up in this mess.

[whatsup]

I am pleased to report that Ronnie has filed an annual return for QEX on the companies office website. You can also see the current shareholder list in the documents tab so you can see if any of your mates have been caught up in this mess.

Only the top 10 shareholders

[Sideshow Bob]

Only the top 10 shareholders

There is an extensive shareholder list as at 31/5/22

[whatsup]

There is an extensive shareholder list as at 31/5/22

I see it , IMO a pretty extensive list, there will be lots of Asian S Hers who should/are not happy with Ronnie/QEX , he/they had better get going and pull some irons out of the fire or imho there could be fire of sorts !!

[winner69]

I see it , IMO a pretty extensive list, there will be lots of Asian S Hers who should/are not happy with Ronnie/QEX , he/they had better get going and pull some irons out of the fire or imho there could be fire of sorts !!

https://app.companiesoffice.govt.nz/companies/app/service/services/documents/75F953559E245C7120A944F8F28CF2D8

[Brain]

https://app.companiesoffice.govt.nz/companies/app/service/services/documents/75F953559E245C7120A944F8F28CF2D8

Maybe it is an indication that Ronnie might try resolve this mess. I live in hope.

[ralph]

Maybe it is an indication that Ronnie might try resolve this mess. I live in hope.
Definitely an attempt at something !!! he does have a lot Invested himself

[nztx]

Definitely an attempt at something !!! he does have a lot Invested himself


If QEX is only trading at a minute scale of what it was & he's cleaned off the liability to WBC
that's swapping one debt for a debt to major shareholder .. was that to clear a Bank's guarantee
hanging around his neck ? ;)

NTA must be fairly small as it is so further dilution of holders which cant be discounted may prescribe even less
value for minorities locked in with untradable stakes in a smaller can of worms, now just limping along ..
seen that sort of scenario play out elsewhere too, where minorities get further marginalised down to next
to nothing further down the line .. any tax losses residing in the reduced can of worms ? :)

[whatsup]

If QEX is only trading at a minute scale of what it was & he's cleaned off the liability to WBC
that's swapping one debt for a debt to major shareholder .. was that to clear a Bank's guarantee
hanging around his neck ? ;)

NTA must be fairly small as it is so further dilution of holders which cant be discounted may prescribe even less
value for minorities locked in with untradable stakes in a smaller can of worms, now just limping along ..
seen that sort of scenario play out elsewhere too, where minorities get further marginalised down to next
to nothing further down the line .. any tax losses residing in the reduced can of worms ? :)

"IF " he is truly trying to get the can of worms back onto a acceptable commercial basis and he succeeds in doing so he deserves to be given all the support that is needed, what else is there for this company out there .

[nztx]

"IF " he is truly trying to get the can of worms back onto a acceptable commercial basis and he succeeds in doing so he deserves to be given all the support that is needed, what else is there for this company out there .

Is it too late to sell the shell (hopefully capable being released from suspension) for more exciting projects ?

[whatsup]

Is it too late to sell the shell (hopefully capable being released from suspension) for more exciting projects ?

Cannot be done atm and from previous companies one ( the shell ) is worth circa $1-$1.25 mil then there is the current S Hers to take into consideration plus the loss of current tax losses.

[Brain]

Qex.co.nz is no longer a functional website so we can assume Qex is not trading at all.

[nztx]

Do we assume that the large NZX large penalty shots are partly responsible for things becoming de-Qexed ? ;)

Is Ronnie still around & not run away ?

Is the Company Lock-up still being opened and closed every day ?

[Brain]

Probably a reasonable summary of the situation for those that have not read it


https://www.google.co.nz/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjx9KbJ6Kj5AhWxR2wGHWh3B4YQFnoECDYQAQ&url=https%3A%2F%2Fwww.rnz.co.nz%2Fnews%2Fbusiness% 2F466393%2Fqex-logistics-investors-left-with-few-options-to-rescue-funds&usg=AOvVaw0O0j8hCvNuKgpaVgm40FHt (https://www.google.co.nz/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjx9KbJ6Kj5AhWxR2wGHWh3B4YQFnoECDYQAQ&url=https%3A%2F%2Fwww.rnz.co.nz%2Fnews%2Fbusiness% 2F466393%2Fqex-logistics-investors-left-with-few-options-to-rescue-funds&usg=AOvVaw0O0j8hCvNuKgpaVgm40FHt)


It would be good if one of the directors could tell the share holders why the board resigned. In my view it is this event that put shareholders in the position that they are.

Directors are supposed to represent shareholders.

What about it Connor English?

[kiora]

I wouldn't touch anything C.E . is envolved in with a barge pole.

Posted 7-2-2018 when listed

[Brain]

Posted 7-2-2018 when listed

You must have had a run in with him previously. For most of us punters he was Bill English's brother.

some would have believed that Connor added a degree of respectability to the board being Bill’s brother.

[Getty]

NTA must be fairly small :)

The warehouses were well stocked.

With glider fuel.

[kiora]

Fresh air ? :)

[Getty]

Fresh air ? :)

Yep. but stale smelly air now.

[CROESUS U.T.]

For most of us punters he was Bill English's brother.some would have believed that Connor added a degree of respectability to the board being Bill’s brother.

While I wasn't convinced by English I had a lot of time for the other director
Danny Chan
Danny Chan holds a number of directorships in New Zealand. He is the Deputy Chairman of Academic Colleges Group Limited, the largest private education group in New Zealand. In 2009, Danny was appointed to the Board of Abano Healthcare Limited, an NZX listed healthcare provider. His other directorships including Flowerzone International Limited, Auckland Tourism, Events and Economic Development Limited and Farmers Mutual Group.
Danny was a former director of Everbright Pacific Limited, a subsidiary of one of the largest Chinese government owned conglomerates, China Everbright Limited. He was also a director of Airways Corporation Limited, a state owned air traffic management company and AgResearch Limited, a crown owned scientific research company that specializes in agricultural and biotechnology developments.

[Pablo123]

Annual return filed. Very small silver lining that it still seems to be operating….anyone have any further insights/information?

https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/3165786/documents?backurl=H4sIAAAAAAAAAFXKQQrCMBBG4dtk4yIn GERQ3HSh1gsMnR8biEnMTEp7exWp6PZ7zxe%2BQX1IEqYgjaNX cB3G7YPOmDeu5ojrUkC7rnOv65As2PIWXWkfam9sTf%2Bfjx1r buVb%2BvF3ZZk4DZATJ0Sy2uDuWUCrO8yFk0Au0BZN6QmZTNFo rQAAAA%3D%3D

[Lola]

While I wasn't convinced by English I had a lot of time for the other director
Danny Chan


Danny Chan holds a number of directorships in New Zealand. He is the Deputy Chairman of Academic Colleges Group Limited, the largest private education group in New Zealand. In 2009, Danny was appointed to the Board of Abano Healthcare Limited, an NZX listed healthcare provider. His other directorships including Flowerzone International Limited, Auckland Tourism, Events and Economic Development Limited and Farmers Mutual Group.
Danny was a former director of Everbright Pacific Limited, a subsidiary of one of the largest Chinese government owned conglomerates, China Everbright Limited. He was also a director of Airways Corporation Limited, a state owned air traffic management company and AgResearch Limited, a crown owned scientific research company that specializes in agricultural and biotechnology developments.

Agree. Danny is a first rate man and has a wealth of successful experience. He got his start as a very young investment manager at MLC in Hunter Street Wellington in the 1970s followed by a senior role with Fidelity I think in Taiwan. He was also the only mandarin speaking Asian cricketing "student" at the Kilbirnie CC. He would feel very let down by the antics of the QE Logistics CEO.

[Brain]

Agree. Danny is a first rate man and has a wealth of successful experience. He got his start as a very young investment manager at MLC in Hunter Street Wellington in the 1970s followed by a senior role with Fidelity I think in Taiwan. He was also the only mandarin speaking Asian cricketing "student" at the Kilbirnie CC. He would feel very let down by the antics of the QE Logistics CEO.

It would be great if he would tell the shareholders why the board resigned in mass. The board have really let the shareholders down. The directors are supposed to represent shareholders. The board resigning was the worse outcome possible for the shareholders. Chan and English need to man up.

[Food4Thought]

Any News on where Ronnie has gone?

[nztx]

Any News on where Ronnie has gone?


Has he gone ?

Would first plane back to China be logical answer ? :)

... never to be seen again ... ?

[nztx]

Still no Financial Statements since Y/e 31.3.2020 filed with Companies Office

2021, 2022 missing in action and approaching 2023 year end now

The good news - there was enough coin in the tin to file the Oct 22 Annual Return
of the subsidiary company, but will there be enough there for the QEX Annual Return
due in May 2023 ? ;)

[Pablo123]

Seems there was enough for the 2023 annual return…

https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/6107251/documents

The radio silence from Ronnie is still deafening unfortunately!

[nztx]

Seems there was enough for the 2023 annual return…

https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/6107251/documents

The radio silence from Ronnie is still deafening unfortunately!


Ronnie might have put a few bucks back in, assuming he's still drawing a screw and on the pigs back
in a world where nothing much in way of reporting info gets Qexed out into the public arena now ;)

[whatsup]

Ronnie might have put a few bucks back in, assuming he's still drawing a screw and on the pigs back
in a world where nothing much in way of reporting info gets Qexed out into the public arena now ;)

Except QEX is no longer at that address, moved months ago, gone no address !!

[nztx]

Except QEX is no longer at that address, moved months ago, gone no address !!

Isn't the Info stuff that that the filer has certify as correct across the various AR sections on Companies
Office site at time of filing ?

Or was false info in the AR filed with Companies Office on 3 March 2023 ?

Perhaps Quex is now operating out of the garage at Carousel Crescent instead
or is that also now an address where the "Unknown" flag comes up too ? ;)

[nztx]

https://coys.carjam.co.nz/:entity?q=Qex+logistics&no=6107251&nzbn=9429042570226&name=QEX+LOGISTICS+LIMITED



Registered Office
Unit R, 63 Hugo Johnston Drive, Penrose, Auckland, 1061, New Zealand

Address for Service
Unit R, 63 Hugo Johnston Drive, Penrose, Auckland, 1061, New Zealand


Ronnie file Shareholding change POS on 18 May 2023

Must still be kicking around somewhere while holders of the other 29.38% of the shares remain hanging


Still no sign of Financial Statements filings past those filed on 8 Sep 2020

Only 3 years unfiled now .. but that must be no surprise to anyone

What's the bet that nothing has landed in mail boxes of the 29.38% over all that time ?


What happening - Ronnie the Man ? ;)


Still hanging out at Carousel Crescent .. or is that out of date too now ? ;)

Google even have pretty photos of shy man's cave

[nztx]

https://www.rnz.co.nz/news/business/466393/qex-logistics-investors-left-with-few-options-to-rescue-funds

QEX Logistics investors left with few options to rescue funds



"[The] NZ Shareholders' Association will keep on advocating for some transparency for QEX shareholders."

"We are hoping at the very least to enable a conversation and a meeting between shareholders and Ronnie Xue", he said.

He acknowledged the suspension of QEX's shares back in 2021 which resulted in poor outcomes for shareholders highlighted the risks associated with investing in listed companies.

Xue did not respond to RNZ's request for comment.


Wonder happened following this in May 2022 ?

[nztx]

https://coys.carjam.co.nz/:entity?q=Qex+logistics&no=3165786&nzbn=9429031350068&name=NEW+Y+TRADING+LIMITED


3165786 NEW Y TRADING LIMITED



Ultimate Holding Company
QEX LOGISTICS LIMITED
Unit R, 63 Hugo Johnston Drive, Penrose, Auckland, 1061, New Zealand


More recent signs of Life here:

2023‑Oct‑03 Annual Return Filed


https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/3165786/35553197/entityFilingRequirement

Registered Address: Cryers Road, East Tamaki, Auckland, 2012


As of public record the Doc Presenter has second Cave at another address
just for filing the Docs with Companies Office




https://coys.carjam.co.nz/:entity?q=Qex+logistics&no=7945604&nzbn=9429048109840&name=DAIRY+LINK+SUPPLY+CHAIN+LIMITED

DAIRY LINK SUPPLY CHAIN LIMITED


Registered
2020-Apr-09 → 2023-Feb-23


This Company fall off Companies Register - incorporated 9 April 2020, No Annual Returns ever filed


A Similar story with this subsidiary company:

KING FUN MCN LIMITED


https://coys.carjam.co.nz/:entity?q=Qex+logistics&no=8075859&nzbn=9429048507004&name=KING+FUN+MCN+LIMITED

incorporated 4 Aug 2020, No Annual Returns ever filed


Status History
Registered
2020-Aug-04 → 2022-Mar-25

[Pablo123]

I see QEX annual return was completed this month, so seems company is still operating. Anyone heard of any updates or something from Ronnie?

[nztx]

I see QEX annual return was completed this month, so seems company is still operating. Anyone heard of any updates or something from Ronnie?



Someone must still be sucking on a feeder straw for that to be filed ;)

must still be a bit of coin in the tin or things happening that Ronnie isn't telling all the other stakeholders.

Wonder what salary & add-on's Ronnie is still sucking out of the outfit on the quiet in the unlisted shadows ? ;)

Perhaps all the stakeholders should organise a little surprise visit with media to the operations HQ to see what's happening ? ;)

[Pablo123]

Has anyone heard anything on QEX by chance? Even simply if it’s still operating or if Ronnie has moved onto something else?

[kiora]

Has anyone heard anything on QEX by chance? Even simply if it’s still operating or if Ronnie has moved onto something else?

Drop Connor a letter.He might know or better still give him a ring.

+64 27 4410 786

or

Conor@silvereye.co.nz

+64 6 367 9904

https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/6107251/shareholdings?backurl=H4sIAAAAAAAAAC2LMQrDMBAEf6PG hV9wGFdpXASSDyy6wxHYJ1l3MvHvI0y6nWF2LFjFxpj3Ak19ma DGz7RnFjKHMioHv4qQqCfvSTjokO%2Bw5TWZp2gBfEKj8BMqG3 ltEu72eveb0bwsf345vNmj5lZu%2FQMLELgWfQAAAA%3D%3D

500000 shares (0.88%)

Conor Joseph ENGLISH
43 Wade Street, Wadestown, Wellington, 6012 , New Zealand

https://www.primeconsultants.net/team

Phone: +64 6 367 9904

[kiora]

Has anyone heard anything on QEX by chance? Even simply if it’s still operating or if Ronnie has moved onto something else?

Hi Pablo
How did you get on contacting Connor?

Here is an update on how to contact him

Mobile: 027 441 0786
Email: conor@agribusinessnz.co.nz