Headquarters of Kien Giang Water Supply and Drainage One Member Limited Liability Company. (Source: Nhan Dan Newspaper)
The Inspectorate of Kien Giang province has just announced the conclusion of the inspection of Kien Giang Water Supply and Drainage One Member Limited Liability Company with many violations in production and business activities in the period of 2018-2022.
The Inspectorate of Kien Giang province assigned the Department of Home Affairs to advise the People's Committee of Kien Giang province to organize a review and handle according to the provisions of law 1 collective and 1 individual; assigned the Company to review and discipline 6 individuals and review and learn from experience 12 individuals.
Kien Giang Provincial Inspectorate requested to recover and pay to the state budget more than 40.2 billion VND (more than 38.3 billion VND has been paid to remedy) and transfer the case file of violations with signs of crime to the investigation agency for further handling according to the provisions of law.
Specifically, the violations include: Agreement to purchase clean water without reporting to the owner, not ensuring compensation for production and business costs, higher than the selling price of clean water of other companies, showing signs of not properly performing assigned tasks, causing loss and waste of the state budget.
The company continued to violate the law on bidding, showing signs of not properly performing assigned tasks, causing loss and waste; not strictly managing chemicals (PAC) and illegally exporting 63,820kg of PAC and 150kg of chlorine, showing signs of causing loss of state assets; requesting payment of remuneration in violation of regulations, showing signs of taking advantage of position and power while performing official duties.
Chief Inspector of Kien Giang Province Tran Chien Thang said through inspection, in production activities, Kien Giang Water Supply and Drainage One Member Limited Liability Company did not develop a labor use plan, recruited many people leading to excess labor; did not develop a salary scale and table leading to improper salary payments.
From 2018-2021, the Company did not develop many regulations on internal expenditure management, leading to some expenditures not following proper procedures, purchasing chemicals not in accordance with bidding regulations, causing waste; loose management of chemical use leading to loss; unbalanced capital sources when making investments, leading to potential risks of financial imbalance.
The company did not pay into the state budget revenue from drainage services, contracts to buy clean water at prices higher than other companies' clean water prices, higher than retail water prices in some areas, did not report to the owner causing loss and waste of the state budget, and spent improperly on remuneration from external investment sources, reducing the company's revenue.
This leads to most costs increasing over the years from 2018-2022, profit after tax continuously decreasing from 2018-2021, in 2022 it increased compared to 2021 but not much.
Regarding the purchase, management and use of PAC, the Company did not correct the violations after the previous inspection, continued to violate the law on bidding and contractor selection, purchased PAC at a higher price than the same type of product, of the same Vietnamese origin at the same time, showing signs of loss and waste; did not manage PAC closely, resulting in the loss of 63,820 kg of PAC and 150 kg of chlorine.
For long-term financial investments (external investments), the Company received stock dividends of 122,762 shares but did not track the number of additional shares on the financial statement notes.
The investment in Southeast Asia-MeKong Rach Gia Water Supply and Consulting Joint Stock Company suffered a loss, but the Company did not set aside provisions for financial investment risks.
The company did not require the representative of the company's capital contribution to periodically or suddenly report on the financial situation, business results and other contents of the company with capital contribution from the state-owned company, and did not report to the owner to handle the recovery of more than 1.9 billion VND.
The company did not pay to the state budget the revenue from drainage services from July 2020 to December 2020 in the amount of more than 37.3 billion VND.
In addition, Kien Giang Water Supply and Drainage One Member Limited Liability Company also committed many other violations in its production and business activities./.
Le Huy Hai (Vietnam News Agency/Vietnam+)
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