Life at The Top novel Chapter 356

The assistant chairman wore a delighted expression and dared not delay a single moment.

“However, it’s not that Kaymaroon doesn’t have any problems. We found out that they’re facing a very high risk of getting themselves involved with a huge debt.

“First of all, each of their supermarkets closes their cyclical accounts with their suppliers every six months, which is four months more than the standard compared to other businesses of the same industry. Changing the period of each cycle to half a year is still in the midst of being approved by the public. Regarding this point, because of their large sales volume and strong ability to conduct sales, all the suppliers can only go along with it.

“Every half a year, they will have to spend at least two billion for the payment. According to our investigation, it’ll be time for them to make their payment after another half a month, at most.”

Jasper tapped on the documents while listening and said, “You’re saying that currently, the assets in Kaymaroon’s account are actually not adequate to make the payments to the suppliers? Even after taking into account all of the income from all the supermarkets for this coming half a month, they’re just barely managing?”

The assistant chairman nodded and said, “Basically that’s it. Also, they got a 600 million loan from Commercial Bank, which they have three years to pay back. Beginning next year will be their last term to pay back the remaining amount which is 220 million including interest.

“According to the data from the investigation, Kaymaroon also has a very serious debt to bear from the private loans they took. The total amount of it is still under investigation, but we can be sure it’s more than 800 million, which is a very heavy burden.”

“A company which has a market value of four billion turns out to have a debt of 1.4 billion, and from this amount, at least 800 million were taken from private loans with high interests. Sebastian really is one daredevil,” said Jasper calmly.

“Initially, Kaymaroon was just a huge company with a strong ability to gain profits, but the main issue with the company lies with the person named Sebastian. He’s a gambler. He’s famous for being a brazen boss in Owl City. He goes to Owl City once a month. Each trip he makes, he either wins or loses billions of dollars.”

Jasper’s brow was slightly raised, and he circled the word ‘gamble’ on the information sheet.

“I remember he has someone backing him up back in Swallow Capital. Did you manage to look that up?” asked Jasper calmly.

Ten years ago, during the battle between Dawson and Sebastian, someone from Swallow Capital offered a helping hand to Sebastian by providing funds at the eleventh hour. Jasper would be sure to include that point in as well.

“I’ve looked into it.”