Regarding the incident of 12 workers and engineers in Nha Trang being owed 700 million VND in wages as reported by Lao Dong Newspaper, Mr. Nguyen Minh Tan - Director of Construction Company 189 - sent a "commitment and debt payment extension" to Lao Dong Newspaper, Nha Trang City Labor Federation, and the Inspectorate of the Department of Labor, War Invalids and Social Affairs of Khanh Hoa Province.
In a response to Lao Dong Newspaper, the leader of Construction Company 189 explained that, in the current context, large companies in the construction industry are facing cash flow difficulties, the main reason being debts for payment of completed volume from investors.
In addition, the real estate market in Khanh Hoa in particular and the whole country in general in the second half of 2022 to the present period has encountered many difficulties due to changes in the economic situation and policies, fluctuations in lending interest rates for home buyers greatly affecting the psychology of real estate investors and customers with housing needs...
The main revenue of 189 Construction Company Limited depends on cash flow from many customers with receivables of up to nearly 7 billion VND.
Regarding the solution, 189 Construction Company Limited said that the investor, Dong Duong Nha Trang Construction Investment Joint Stock Company, has completed the legal documents of the project, accelerated the processing of bank loan documents to disburse payments to contractors, including 189 Construction Company Limited; and implemented sales to create additional sources of payment.
"Construction Company 189 understands that the delay in paying wages to employees is a violation of the contract with the employees. However, facing the above difficult situation, we will arrange finances as soon as possible to pay all wages owed to employees" - quoted from the response of Mr. Nguyen Minh Tam - Director of Construction Company 189.
