Ezra's insolvency behind 'delayed salaries' at Triyards
Staff in Vietnam paid on Monday, says Triyards CEO, who has been in the country for about 2 months
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
EMBATTLED Triyards acknowledged on Monday it had to delay salary payments in Vietnam after facing difficulty drawing on project financing lines.
Triyards CEO Chan Eng Yew who was in Vietnam as at press time, told The Business Times that the staff salaries in Vietnam were paid on Monday and "brought current" this week. Mr Chan further explained that these affected salary payments drew from project financing lines that experienced "cascading effects" from the default of banking facilities guaranteed by its parent group, Ezra Holdings.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
