Oka Company in Trouble

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03 Nov 2012 11:43 #1 by dandjcr
dandjcr created the topic: Oka Company in Trouble
Forum Home > Recent Updates, & Forums/Website Queries > Oka Company in Trouble

Dandj
Member
Posts: 367
Update 12 Aug:
I've had a call from Oka and they will advise us later today of the situation. They request that we keep the details low key until we receive an official response from them so I've temporarily removed the item from the news section.
They are trying to maintain a supply of spares during this period, but be aware that there may be some difficulties or delays in getting spare parts.
We will remain in touch with Oka and update this information as it becomes available.
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David and Janet Ribbans, Oka 148

August 11, 2011 at 5:34 PM Flag Quote & Reply

Terry Mclaaren
Member
Posts: 34
Lets hope its not the beginning of the end as I don't think OKA would be able to survive another financial downfall.
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August 12, 2011 at 8:40 AM Flag Quote & Reply

joseph baz
Member
Posts: 332
It is a shame that come to this,management will have some answering to do,poor management? maybe,what i thinks is funny is the fact that a lot of money been spend to certify the NT,tooling,gearing for production and now that all is done the doors will close,it was an item on Chanel 9 news a week or so ago to the fact that workers haven't been paid for a while and funding from the Malay owners were only coming in dribs and drabs.The vehicle have a lot of potential (specially without the BAE axles) if any small problems surface it will be just that...small problems,all the guys that I met at the factory are very passionate about the product and are all very helpfull with any queries that I had.obiously these workforce will need to seek employment somewere else and that will be a great loss to the company.the owners should get serious about the product and not use it for way to access Australia.....mmmmm I think i gone past my two cents!
Cheers,Joe
August 12, 2011 at 10:34 AM Flag Quote & Reply

Mark Pain
Member
Posts: 23
Any news on this?
August 15, 2011 at 2:13 PM Flag Quote & Reply

joseph baz
Member
Posts: 332
Going by today's article in the West Australian newspaper that a temporary closure will be happening to "Clean up the company",it appears to be a dispute regarding workers pays,and auditing is happening at the moment.
Cheers,Joe
August 16, 2011 at 12:31 PM Flag Quote & Reply

James & Usha (THEByleDuct)
Administrator
Posts: 161
Here is a link to the article in The West.
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OKA #072

August 16, 2011 at 3:59 PM Flag Quote & Reply

Cando
Member
Posts: 199
the article in The West is typical of big business... dont admit to anything.OKA had an issue when i was looking for parts for XLT112, doesnt look good for them.
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Happy trails

Cando and Bron XLT 112



August 16, 2011 at 5:47 PM Flag Quote & Reply

Mark Pain
Member
Posts: 23
Any further news?
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Regards

Mark Pain

September 5, 2011 at 3:56 PM Flag Quote & Reply

joseph baz
Member
Posts: 332
Just returned from the factory,Spares still operating with the stock at hand,the rest of the factory is at idle.
Cheers,Joe
September 5, 2011 at 4:27 PM Flag Quote & Reply

joseph baz
Member
Posts: 332
Drove past the factory today and a For sale or lease sign been erected at the front....mmmm it doesn't look good
Cheers,Joe
September 9, 2011 at 8:01 PM Flag Quote & Reply

okadoc
Member
Posts: 98
He is the major shareholder and the chairman and hes not responsible, hmmmmm thats a new take on the word, cant help thinking the ASC will haave a very different view of this poor corporate govenance, but Its simply an accounting excersise, need we say more other than he dont know the meaning of FAIR DINKUM.
September 10, 2011 at 12:54 PM Flag Quote & Reply

Paul Scherek
Member
Posts: 136
Are there enough of us to get together and do a buy-out? Only half joking, stranger things have happened in the corporate world.......
September 10, 2011 at 6:40 PM Flag Quote & Reply

James & Usha (THEByleDuct)
Administrator
Posts: 161
There have been instances in both the car and aircraft world of enthusiast doing just this - if for no other reason than keeping the flow of spare parts going along. Then there are those like my father who with a consortium of mates supplies parts for an obscure scale traction steam engine. It will be a huge pity if the company goes under but I'm sure as a group of enthusiasts we will be more than up to the task of maintaining a supply of spares.
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OKA #072

September 10, 2011 at 7:13 PM Flag Quote & Reply

OKA NT Sales
Member
Posts: 46
How about I put a lot of rumours to bed and tell you what has been going on! Middle of June the CEO and CFO of OKA no longer were directors of the company. In the second week of July our owner proceeded with a forensic audit. One week later the CEO - Arthur Gold resigned. Investigations are still ongoing with a numerous amount of accounting irregularities noticed, by the then CEO and CFO dating back to 1998. Currently the company has appoint two new directors who are local. Yes for the moment production is suspended until the results of the audit are finalised but very shortly we will be back to production. Yes we can still supply parts Monday to Friday XT, LT and NT models.

As for the for lease /sale sign it does state Expressions of Interest. This usually means the maybe an interest to move on the premises but as anyone who knows real estate the value of a property is only as much as someone who is willing to buy it. EOI is a common term used by banks to determine a value when drafting loans especially in low economic times as Australia is experiencing. For the last year the owner has also spoken about moving to more up to date premises which are also closer to suppliers, eg- Kewdale. Now for lease / sale does not mean OKA business, intellectual property, etc. Only the premises at 45 Miguel Rd Bibra Lake. No need to panic or go on a mass riot lol.

In all my trips around Australia the last two years in the OKA NT demo I have heard all sorts of stupid rumours from the company being dead, to sold to middle easterns to even owned by Russians. In response for the current moment the company is finalising a forensic audit as mentioned above. In the time we are going through a review and restructure process for a better, brighter and more successful future. Sometimes it's best to trim the dead wood to move forward. Please do not ask me questions on the forensic audit as no one but the owner is privileged to this information at the current moment but happy to answer any other questions and if you have any suggestions and ideas on updating the OKA please forward them to This email address is being protected from spambots. You need JavaScript enabled to view it.
September 10, 2011 at 7:59 PM Flag Quote & Reply

joseph baz
Member
Posts: 332
Excellent link! love to see passionate people,maybe if the management is to close the shop ,we can chip in and buy all the drawings to maintain a line of supplies.....just an idea.
Cheers Joe
September 10, 2011 at 8:05 PM Flag Quote & Reply

Hal Harvey
Site Owner
Posts: 510
Thanks for that update Markus. I know that all else aside, there is no better vehicle for the purpose the OKA was originally designed for, than an OKA! Twenty years of development of Canters and Isuzus and whatever else has never led to a vehicle that directly compares with local product, and every time I've been to the factory in the past few years there's been a teenage OKA or three in there being rebuilt and revitalised. No other manufacturer comes close - really, nobody. OKA deserve to have a bigger, better & brighter future and I sincerely hope this is the starting point.

Robin Wade was telling me the other day he looks after parts for three LT OKAs that have been working in the highlands of PNG for the last 15 or so years - and he did mean high. The Toyotas won't even run in that atmosphere, let alone still be working after 15 years. Anyway that's another story.

The OKA NT deserves to become a legendary vehicle in Australia and beyond. We all owe Vell Paari a vote of thanks for keeping this rare gem of Australian manufacturing alive through what has no doubt been a very difficult time.
--
Hal

September 10, 2011 at 8:29 PM Flag Quote & Reply

OKA NT Sales
Member
Posts: 46 Hal thank you for all your great support. Your the type of customer i love to have who I can go above and beyond for. With the new R and D engineering improvements we are looking at it can only get better and better. Hal I hope everything is going well and all our thoughts and with you. I feel very sorry for the owner of the company that the people he trusted for 15 years to run his business have misled and stolen from him. I have met him a few times and he is a great supporter of the product as well as a great individual himself.
September 10, 2011 at 8:47 PM Flag Quote & Reply

joseph baz
Member
Posts: 332
Markus,it's great to hear what the problem has been as we only been fed what the media portray,love to see the brand go on and on,all the best!!
Cheers Joe
September 10, 2011 at 8:59 PM Flag Quote & Reply

James & Usha (THEByleDuct)
Administrator
Posts: 161
Markus - thanks for the info update. Glad you have been able to share what you have to help put the rumors to rest. Again thank you!
Cheers
James
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OKA #072

September 10, 2011 at 9:14 PM Flag Quote & Reply

Paul Scherek
Member
Posts: 136
Fabulous news, Markus. Rumours can be a pain in the neck, and can become a self-fulfilling prophecy. It is great to get the truth from the Oka's mouth, so to speak.
Cheers, Paul (Oka 059 Bega)
September 11, 2011 at 8:01 AM

David and Janet Ribbans - Oka 148
Oka148 profile here.
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