21/05/2026
Former Rex executive chair Lim Kim Hai has admitted the accusations levelled at him by the corporate watchdog in the NSW Supreme Court.
"Mr Lim, former deputy chair John Sharp and directors Lincoln Pan and Siddharth Khotkar had collectively planned to contest the charges until Mr Lim made the admission during the morning court session. The Australian Securities & Investments Commission (ASIC) brought the case against Mr Lim and three other Rex directors. ASIC Connect
In its case against Lim and three other former Rex directors, the Australian Securities and Investments Commission (ASIC) said Lim had approved a market update in February 2023 saying Rex was “optimistic” about a full-year profit despite knowing the airline was on track for a loss.