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[Alpha Biz=(Chicago) Reporter Kim Jisun] Taeyoung Construction, which has recently been embroiled in rumors of a liquidity crisis, has announced its position to respond hard to malicious rumors.
"It currently has more than 400 billion won in cash in addition to group-level support, and orders have reached 2.5 trillion won, focusing on public projects without project financing (PF) guarantees so far," Taeyoung E & C said in a statement on the 26th. There is no liquidity problem due to the reduction of contingent debt related to PF business and additional financing.
Recently, rumors circulated around the construction industry and the securities industry that "Taeyoung E&C, which is experiencing a liquidity crisis, asked the financial authorities for help and the government asked the financial authorities to give emergency money," but Taeyoung E&C explained that it is a malicious rumor that is different from the truth.
"We reported to the joint rumor crackdown team of the Financial Supervisory Service on the act of obstructing the company's management by spreading unconfirmed rumors and creating malicious articles," Taeyoung E&C said.
Currently, the balance of PF contingencies of Taeyoung Construction is 2.5 trillion won, including 1.4 trillion won for construction sites and 1.1 trillion won for non-construction sites. For non-installed businesses, the company plans to increase fund liquidity by selling some of its business implementation shares or accelerating the conversion of the main PF.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
