"Skonto" president says feature article in DB discredits company
"Skonto" President Guntis Indriksons believes that the extensive article in today^apostrofs;s "Dienas Bizness" (DB) entitled "Skonto Sinks in Debts" has been deliberately contracted to undermine the "Skonto" enterprises, or the newspaper is merely chasing after "cheap sensation".
"Skonto" President Guntis Indriksons believes that the extensive article in today's "Dienas Bizness" (DB) entitled "Skonto Sinks in Debts" has been deliberately contracted to undermine the "Skonto" enterprises, or the newspaper is merely chasing after "cheap sensation".
The article looks at "Skonto's" overall operational results and reports that liabilities to creditors have grown dramatically (at least in Latvia), is counting bigger and bigger losses while its promising projects require investments and won't bring in a profit any time soon. The paper delves into "Skonto's" structure, mentions future and failed projects, and includes a long list of mortgaged property.
In a statement to the press, Indriksons points to various errors in the article on which the "chain of assumptions" is based. The company's 2001 debt to banks at LVL 49 million is not an actual debt but the maximum loan security amount which only proves that "Skonto" has security available in such an amount, which simply makes the "Skonto" companies more lucrative.
Indriksons also emphasizes that all debts have always been covered by "Skonto" otherwise no bank would lend it any money at all and it would have already faced legal proceedings as a result.
Indriksons believes that the total debt mentioned is "normal", adding that in his particular case the talk of the huge credit debt will serve to quell the myth that his business is built on "KGB's dirty money".
The company's president added that the DB article not only discredits him but a large number of companies, it also keeps the myth alive of "Skonto" as a united group when in truth "Shonto" has never been a joint holding with a consolidated budget and none of the companies are controlled "from above".
LETA Inga Snore LETA
Copyright © LETA
The article looks at "Skonto's" overall operational results and reports that liabilities to creditors have grown dramatically (at least in Latvia), is counting bigger and bigger losses while its promising projects require investments and won't bring in a profit any time soon. The paper delves into "Skonto's" structure, mentions future and failed projects, and includes a long list of mortgaged property.
In a statement to the press, Indriksons points to various errors in the article on which the "chain of assumptions" is based. The company's 2001 debt to banks at LVL 49 million is not an actual debt but the maximum loan security amount which only proves that "Skonto" has security available in such an amount, which simply makes the "Skonto" companies more lucrative.
Indriksons also emphasizes that all debts have always been covered by "Skonto" otherwise no bank would lend it any money at all and it would have already faced legal proceedings as a result.
Indriksons believes that the total debt mentioned is "normal", adding that in his particular case the talk of the huge credit debt will serve to quell the myth that his business is built on "KGB's dirty money".
The company's president added that the DB article not only discredits him but a large number of companies, it also keeps the myth alive of "Skonto" as a united group when in truth "Shonto" has never been a joint holding with a consolidated budget and none of the companies are controlled "from above".
LETA Inga Snore LETA
Copyright © LETA
