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Complaint > Bilt Paper-02/Sipitang

Compliance Report: CAO Compliance Investigation Report - Bilt-02 - April 13, 2018 - ENGLISH

...winding-up petitions by over 30 creditors in a bid to recover their debts.144 To prevent compulsory liquidation, a receiver and manager was appointed to take control of SFI and facilitate repayment of debts via a sale process. Due to these financial constraints, SFI announced in November 2017 a temporary layoff program involving all its workers. The program was scheduled to commence in January 2018 and be implemented through to June 2018. Per the program, affected workers would be paid half thei...
IFC Compliance Advisor/Ombudsman - Malaysia - 2018