[RESPECT] 'We don't wish to retrench them': Teo Heng KTV still paying workers' salaries in full despite losing millions

[micromachine]

Teo Heng KTV, which has been around since 1989, has been forced to cease operations since March 2020 due to Covid-19 regulations.

Despite sustaining about S$500,000 in losses each month since then, the business is still paying the salaries of some 120 workers in full. Amid uncertainties over reopening, the family-run business is fighting to hold on for as long as they can before letting go of their staff................

Teo says that they are still paying all of their employees in full during this entire time. Yes, including CPF contributions.

“We are all depending on our reserves, the longer it takes, we may have to consider closing more outlets. But we still want to keep our workers in full force."

The business is drawing on their savings to sustain paying some 120 employees, which includes both locals and foreigners.

Despite the support, however, they still lose around S$500,000 for every month that they are unable to open — working out to millions since their doors have remained shut for the past six months.

More at https://tinyurI.com/yxh9nlzo

 

[winners]

They should have paid their employees some respectable severance pay and let them go. Those capable ones will very likely find another job within a few months. In this way, it'll be a win-win situation. When good times are back, the company can consider to a fresh restart again. After all, their kind of business doesn't really require much technology skills.

 

[syed putra]

They should have paid their employees some respectable severance pay and let them go. Those capable ones will very likely find another job within a few months. In this way, it'll be a win-win situation. When good times are back, the company can consider to a fresh restart again. After all, their kind of business doesn't really require much technology skills.

They are waiting for gomen to allow them to operate again and are confident of business of it happens. Just open up the night life and let bus8nesses resume operations.

 

[rushifa666]

Stupid people. Start with firing foreigners. Teo heng has business at orchard road even close those.

 

[rushifa666]

Meanwhile karaokes in malaysia laugh at stupid sinkies. They are open

 

[tanwahtiu]

Keeping non essential entertainment biz in war time is stupid. Who has the time to sing in bad time.

Stupid.

 

[sweetiepie]

Keeping non essential entertainment biz in war time is stupid. Who has the time to sing in bad time.

Stupid.

KNN during bad times only this is strongly leecomended KNN

 

[Scrooball (clone)]

Then they should be running a charity. While it sounds noble, it doesn’t make business sense.

 

[bobby]

A very clear case of money laundering for this type of shady entertainment businesses controlled by gangsters....SPF please wake the fuck up!

 

[tanwahtiu]

Clear... Debt carry forward to next financial year..... And next year earnings off set this debt payable to the lenders.... Wash money....

A very clear case of money laundering for this type of shady entertainment businesses controlled by gangsters....SPF please wake the fuck up!

 

[Scrooball (clone)]

Better dig a little deeper and find out who are on his payroll. Won’t be surprised to find a bunch of friends and family in the list.

 

[millim6868]

黑暗,no human being would be so generous to pay every mtg losses, fishy....

 

[bushtucker]

Actually they can resume business and still adhere to phase 2 regulations e.g. 5 to a room, staggered seating, close shop at 10.30pm, no singing or operating the karaoke equipment but can playback music.

 

[syed putra]

Meanwhile karaokes in malaysia laugh at stupid sinkies. They are open

They are not suppose to open

 

[micromachine]

Meanwhile karaokes in malaysia laugh at stupid sinkies. They are open

i think closed again no?

 

[sweetiepie]

KNN siao bo KNN see loctor and go shopping center buy necessary things already so difficult still got mood to sing song KNN

 

[congo9]

A very clear case of money laundering for this type of shady entertainment businesses controlled by gangsters....SPF please wake the fuck up!

Of course.
This is the best time to launder money now.

 

[rushifa666]

i think closed again no?

Open since july what talking