Long-term debt
At the end of 2023, Viet Hung Dak Lak Joint Stock Company (referred to as Viet Hung Company) signed a contract to supply construction materials and transport all kinds of stones to Thuan An TAG Group Joint Stock Company (referred to as Thuan An Company).
Materials supplied by Viet Hung Company were used by Thuan An Company (main contractor, receiving package number 3, from Km11+100 to Km16+300) to construct a section of the Ho Chi Minh road project, Eastern bypass, Buon Ma Thuot city.
This project is invested by the Dak Lak Provincial Project Management Board for Transport Construction Investment and Rural Development (referred to as Dak Lak Project Management Board).
During the process of providing raw materials and transporting all kinds of graded stone for contractors, Viet Hung Company ensures progress and quality as committed.
After transporting enough volume of aggregate stone materials for the package, the two parties proceeded to make a debt reconciliation table based on the daily delivery notes.
After reviewing, Viet Hung Company determined that Thuan An Company owed hundreds of millions of VND in material costs. However, as of January 20, 2025, Thuan An Company had not yet paid this amount to Viet Hung Company.
Mr. Dinh Van Toan - Director of Viet Hung Company - shared: "In the past 3 months, we have repeatedly asked Thuan An Company to pay the debt. A large part of this amount was used to pay salaries and bonuses for workers returning home for Tet, but this request has not been responded to. The unit also does not have the ability to pay salaries for workers returning home for Tet."
A representative of the Dak Lak Project Management Board (project investor) informed that the unit was aware of this incident. However, this is a civil contract agreement between the two enterprises. The project investor only followed the correct procedures, accepted and completed the disbursement procedures for the bid package upon completion. The investor is not involved in the matter of Thuan An Company owing money to Viet Hung Company and does not intervene.
"It is not our fault that this situation happened. We will ask the contractor to resolve it completely to avoid affecting the workers' rights as well as the board's reputation," added a representative of the Dak Lak Project Management Board.
Meanwhile, a representative of Thuan An Company confirmed: "Viet Hung Company has not completed the payment procedures according to regulations. Therefore, the Finance Department of Thuan An Company has not been able to pay. It is true that we owe Viet Hung Company several hundred million VND. But that is only a very small amount. Before that, we also paid Viet Hung Company many times, doing business properly.
We have asked the leaders of Viet Hung Company to discuss again, complete the necessary procedures to pay and completely handle the remaining debt," added a representative of Thuan An Company.
Workers suffer
Talking to Lao Dong Newspaper, Mr. Pham Xuan Trung (worker at Viet Hung Company) sadly said: "The Lunar New Year is coming very soon but I still haven't received my salary to take care of my family. As a worker, if I don't have any money on the days before Tet, how can I dare to bring my wife and children back to my hometown? Meanwhile, to ensure the project's progress, we have to work hard all year round."
In the same mood, Mr. Vo Van Thang (worker of Viet Hung Company) has been restless and worried for many days. Because, until January 20, 2025, Mr. Thang still has not received any salary or bonus for family expenses.
Mr. Thang said: "There are about 10 workers affected when Thuan An Company has not yet paid off the debt to Viet Hung Company. The highest is about 150 million VND, the lowest is about 15 million VND. In difficult times, we just do our best and hope that the business operates properly and pays the debt on time."
According to Mr. Dinh Van Toan - Director of Viet Hung Company, many workers reacted by hanging slogans and banners on the Eastern bypass of Buon Ma Thuot city, demanding the contractor to pay the debt. We advised the workers to stay calm and wait for the competent authority to resolve the matter.
