TEMPO.CO, Jakarta – The management of PT Industri Telekomunikasi Indonesia (Persero) or PT INTI confirmed that it had delayed payment salary its employees. President Director PT YOU, Otong Lip said, employee salary payments have been delayed since May 2019.
However, said Otong, the management is still trying to pay salaries according to the company’s financial capacity. “Payment of salary payable on a monthly basis continues and is recorded during the period 2020, every month there is a payment of salary debt installments until August 2020,” said Otong in a written statement, Thursday, September 10, 2020.
In August 2020, he said, employees had received installments of salary debts for February 2020 salaries worth IDR 1 million per employee.
Otong further explained that the background for the company to delay payment of salaries was due to cash flow operations (CFO) and the company’s equity which was in a negative position. This condition of heavy financial pressure has occurred in the last five years, starting from 2014 to 2019, when retained earnings on the company’s balance sheet were negative.
“One of the reasons is because past projects undertaken by the company suffered significant losses. This continues until the company has 90 percent non-productive debt,” said Otong.
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