CREDIT INTELLIGENCE LTD (CI1)

The company has entered into a Share Transfer Agreement with Wai Cheung Yu to sell its equity interest in BNPL International Limited for AUD1.00 on 4 March 2025. The company's board does not consider the disposal a substantial asset and is reviewing investments.

The company releases its half yearly report and accounts.

The company has agreed to sell its 60% equity interest in its partly-owned subsidiary, Chapter Two Holdings Pty Ltd, to Christopher Hayden Mushan. The company expects a profit on disposal of approximately AUD16,000. The board does not consider the disposal a substantial asset and is reviewing investments.

The company reported a loss of approximately A$2.8m in the six-month period ending 31 December 2024, primarily due to an increase in write-offs in its subsidiary, Chapter Two Holdings Pty Ltd.

The entities suspended for over three months failed periodic reports, the oldest outstanding report deadline, and their 2 year deadline for trading plans. If not met, they will be removed from the official list, usually after the first trading day.

The company lodges its results of its annual general meeting.

ASX releases a notice regarding long-term suspended entities. The company's securities have been suspended for more than 3 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.

The company releases its 2024 Appendix 4G and Corporate Governance Statement.

The company lodges its 2024 Annual Report.

The company's AGM has been called for 3:00pm (AEDT) on 28 October 2024. The meeting will be held as a virtual meeting.

The legal action initiated by the former executive Chairman/CEO Mr. Ka Sek Wong and his spouse Chuen Lan Chan, as initially announced to the market on 2 February 2024, has been dismissed by the High Court of the Hong Kong Special Administrative Region. The Official Receiver's Office has assigned new cases to Hong Kong Insolvency Service Limited where Mr. King Wong and Mr. Julian Wong are joint trustees for the new cases. Given the reassignment are at its early stage, the Company is still assessing the financial position of the Company and unable to fully inform the market.

The Company's 2024 Annual General Meeting will indicatively be held on Monday, 28 October 2024. A Notice of Meeting for the Annual General Meeting is being prepared by the Company and will be announced to the ASX and provided to Shareholders in due course. Any director nominations must be received no later than 5:00pm (AEST) on Wednesday, 4 September 2024 at the Company's Registered Office.

The company lodges its Preliminary Final Report.

The company releases a notification of cessation of securities.

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.

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.

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.

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.

The company releases its notification of cessation of securities.

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.

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.

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.

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.

The company lodges its Half Yearly Report and Accounts.

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.

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.

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.

name changed from APAC Coal Limited