The Sugar Company Rose-Belle Has no Money for Salaries for May

11 years ago - April 02, 2013

Beyond the month of April, the Rose Belle Sugar Estate can no longer pay the salaries of its employees. The only institution with the status of sugar semi-public body negotiates an overdraft with the bank.

Candy hopes to have a "overdraft facility" at least Rs 10 million this month in order to pay the salaries of its employees in the month of May "The problem should not arise since June has started cutting , " said a member of the board under the cover of anonymity.

Management of Rose Belle SE becomes more complex for the Ministry of Agro-Industry. The new Board of Directors who shall be appointed in no time will have the heavy responsibility of managing an institution deficit, despite the enormous land it has. Elected in 2011 and 2012, the current council was unable to recover the finances of candy and some within the establishment questioning not only his skill, but also its legitimacy.

To cover its debt (Rs 200 million), company has no other choice but to sell their land. But since the Rose Garden affair which caused a scandal, the establishment does not inspire much confidence when it comes to land transactions. The board, which had decided to divide up his land, has launched a tender for a strategic repositioning of candy. The facility will use consultants for this task. Rose-Belle wants to use his land wisely.

Text by lexpress.mu

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