A flurry of of emails and communication overnight about the status of Bill Express. The reports range from KPMG being called in to conduct a forensic audit through to police involvement to a story that the CEO will not return from overseas. Mark Hawthorne writing at The Age has some details.
Some of what I have been told cannot be confirmed. Interesting movement I have verified surrounds activity connected with developments in Vietnam as announced by OnQ. This relates to BOPO in Vietnam, another joint venture of the business. While the announcement is a year old, it points to a relationship which, it has been suggested to me, is now key to how the Bill Express situation may play out. The Vietnamese venture is not owned by the company. Similarly, the Singapore BOPO operation.
I’d expect greater interest in BOPO as investigators look more into the Bill Express business.