But buying a New Zealand construction company could be seen as an extreme way to get hold of a bit of tanning equipment. Richina didn't (couldn't? And MLG and RGREL, the other company Richina used to borrow money from Mainzeal, didn't have any money. The answer was "letters of comfort" from parent company Richina. Of course, Mainzeal didn't have a risk register, or an audit and risk committee, or even a board big enough to have one.

Source: Stuff March 12, 2019 20:26 UTC