Can Tho-based Binh An Seafood JSC
(Bianfishco) plans to sell its fish processing plant to a finance investment
corporation from the Netherlands to pay off debts to its fish providers in
March, the company's CEO Tran Van Tri confirmed yesterday.
Tri,
who replaced his wife as company CEO on February 23, said the company owes 45
local farmers 261 billion dong (US$12.4 million) for tra fish they supplied.
Yesterday
morning the company paid its 1,200 workers their February salaries, worth 3
billion dong ($143,000), he added. Many company employees remain out of work
because of materials shortages.
According
to the CEO, the company's total properties were audited and said to be worth
more than 2.7 trillion dong (US$128million), adding that the company would be
able to balance its current debts.
Tri
said his business had taken steps to pay off debts and bank loans and would not
go bankrupt, since the interest on its bank loans and taxes would be paid fully
and on time.
The
company will work with banks to discuss its loans and propose its restructuring
plan by Thursday. Bianfishco will also urge its counterparts to pay back their
debts to the company in order to help rectify the situation.
Talking
with a Viet Nam Fatherland Front representative yesterday, farmers were hopeful
that they would be paid within the month as promised. They also expressed their
wish that the company would resume its operations and develop.
Former
CEO Pham Thi Dieu Hien is a member of the Front and went abroad for medical
reasons in late February.
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