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Rex results ‘sucked’, but nano-manager boss announced profit: ASIC
With the airline on track for a $35 million loss, former executive chairman Lim Kim Hai green-lit a misleading profit prediction, ASIC alleges.
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smh.com.au
Ex-transport minister, directors allegedly kept market in the dark about airline’s dire straits
Rex told the market in early 2023 it expected to make a profit that financial year, then announced a major loss. By mid-2024, it had collapsed into administration.
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afr.com
Rex results ‘sucked’, but nano-manager boss announced profit: ASIC
With the airline on track for a $35 million loss, former executive chairman Lim Kim Hai green-lit a misleading profit prediction, ASIC alleges.
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Former Rex boss admits to misleading the market, in court win for ASIC
In a dramatic reversal, the embattled airline’s former executive chairman Lim Kim Hai accepted he should face a fine and disqualification orders.
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Ex-Rex boss admits hiding news of airline’s financial woes
Former Rex executive chair Lim Kim Hai admitted “to all alleged contraventions against him,” on the third day of the trial in NSW Supreme Court.