Vinashin disburses VND400Bln to rescue subsidiaries

Vinashin Business Group has to date disbursed VND400 billion to support its subsidiaries to maintain and boost their business production, the Thanh Nien newspaper reported citing the group’s General Director Nguyen Quoc Anh.

Vinashin Business Group has to date disbursed VND400 billion to support its subsidiaries to maintain and boost their business production, the Thanh Nien newspaper reported citing the group’s General Director Nguyen Quoc Anh.

The said amount of money which was driven from new loans and selling assets through the group’s restructuring has been used to pay salaries and social insurance to employees.

Anh said the group has still been checking its subsidiaries’ debts of salaries and social insurance because it has not the exact number of debts.

Earlier, Vinashin’s ex-General Director Tran Quang Vu (who has been arrested) announced the above debts of around VND234 billion. However, according to the new general director, the business production has arisen new debts; therefore; the amount of VND400 billion was disbursed following the group’s affiliates. Whether this number may be increased, the group has to wait for the subidairies’ reports, Anh said. – Thanhnien

Tags: Vietnam Shipbuilding industry, Vinashin

Posted by VBN on Sep 25 2010. Filed under Shipbuilding. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry