I have had chat with Thong and here is what is to be done moving forward.
1) Employee Provisions
a. All provisions are to be held by the legal entity employing the staff, in this situation is LFM.
b. It is hereby agreed that if any staff provisions provided in Thaileighton and transferred to LFM during 2013, if any under-utilisation due to staff resignations has to be returned to Thaileighton. LFM is at no point to make a profit/gain from these provisions.
c. Nhut/Note to provide transparent information to Thong and myself on a monthly basis of the movements in employee provisions in LFM.
2) Intercompany with Thaileighton – Mar 14
a. Please settle this as soon as possible. Please correct me, but there are no other balances due.
3) Moving Forward
a. LFM to commence to move suppliers / subcontractors away from Thaileighton – so by Jun 14, LFM to make all payments themselves. Minimal payments made by Thaileighton.
Thong, please let me know if this is inconsistent with our discussions. If this is ok with you, please kindly help to assist with the payments currently at Thaileighton for this month.
Please let me know if you have any questions or I have missed anything.