Victory in Life
Chapter 356
The assistant chairman's expression was delighted and did not dare to delay a single moment.
"However, that doesn't mean Kaymaroon doesn't have any problems. We found that they face a very high risk of getting involved with very large debts."
"First of all, each of their supermarkets closes their cycle accounts with their suppliers every six months, which is four months longer than the standard compared to other businesses from the same industry. The change in the period of each cycle to half a year is still in the process of public approval. Regarding this, due to their large sales volume and strong ability to make sales, all suppliers can only follow suit."
"Every half a year, they have to spend at least two billion on payments. According to our investigation, it's time for them to make the payment after half a month, at most."
Jasper tapped on the document while listening and said, "You're saying that right now, the assets in Kaymaroon's account are actually not enough to make payments to the supplier? Even after accounting for all the income from all the supermarkets for the coming half a month, they could barely manage it?"
The assistant chairman nodded and said, "Basically that's it. Also, they got a 600 million loan from Commercial Bank, which they had three years to repay. Starting next year will be their last time to pay back the remaining amount of 220 million including interest."
"According to the data from the investigation, Kaymaroon also had very serious debts from the personal loans they took. The number is still under investigation, but it's certainly over 800 million, which is a very heavy burden."
"The company that has a market value of four billion turns out to have a debt of 1.4 billion, and of that amount, at least 800 million are taken from high-interest private loans. Sebastian is really brave" Jasper said calmly.
"At first, Kaymaroon was just a big company with a strong ability to profit, but the main problem with the company lay in the person named Sebastian. He's a gambler. He was famous as a brash boss in Owl City. He went to Owl City once a month. Every trip he makes, he wins or loses billions of dollars."
Jasper's eyebrows slightly raised, and he circled the word 'gambling' on the information sheet.
"I remember he had someone supporting him in the Swallow Capital. Did you manage to find him?" ask Jasper calmly.
Ten years ago, during a battle between Dawson and Sebastian, someone from the Capital Swallow offered Sebastian a helping hand at the eleventh hour. Jasper will definitely include that point as well.
"I've checked it."
Jasper immediately flipped to the last page of the document. He looked at the contents and an expression that no one expected would be plastered on Jasper's face.
"Combe's family?! Hendrik Combe?!"
The assistant chairman nodded and said, "Hendrik and Sebastian have a relationship that no one knows about. They are brothers-in-law. Sebastian's wife and Hendrik's wife are siblings."
"Also, Sebastian's nephew, Hector, introduced him to Owl City. The two of them not only shared a simple niece-uncle relationship but they were also gambling friends. Or something like that, how could a brat from the village know about places like Owl City?"
After more than ten minutes, the assistant chairman left the hotel room politely. After carefully closing the door, he left the place happily.
In the suite, Jasper gradually narrowed his eyes and dialed Hector's number.
After half an hour, Hector, with a restless expression on his face, and Jacob slowly walked to the entrance of the hotel room.
"Sister, Jasper's looking for us, but what's the reason behind it? Didn't we settle the grudge between us?"
"Even Erick Turner was squashed by him. I heard that Brad Turner turned up at the end and paid Jasper a huge compensation. Only after that the problem was solved. I'm really scared of him right now."
Hector said with a teary face.
Jacob calmed down and said, "You're the one he called. How am I supposed to know when you don't even know why? Anyway, let's go in. Remember, we should behave well later. Don't call him by his name. You should greet him as Lord Laine!"
As the two brothers were talking, there was the sound of the hotel room door being knocked.