Annual Report 2010. - Agjencia Kosovare e Privatizimit

26
ANNUAL REPORT 2010
No. of
SOE
3
Name of SOE & Direct
Administration mandate
soe “ Amortizatorët (shock
absorbers)”
DATe of Entry: 29/04/2010
Based on financial data on 31
December 2010:
Income:2,733,375.12€
Income from government grant: 0 €
Expenses: 2,092,656.27 €
Cash: 640,718.85 €
Challenges of the Socially Owned
Enterprise
- Enterprise does not manufacture.
- Large number of employees 861;
- Difficulty in collecting rent from
leaseholders;
- Large amounts of enterprise liabilities;
- TAK dispute at SCSC ;
- Hostile attitude of enterprise workers
against PAK;
- Enterprise dispute with Prishtina
municipality regarding enterprise
space whereby “Tregu” is operating.
Management & Corporate governance issues Future prospects
- DA had great problems in implementing Direct Administration
measures since there were objections by the workers.
- DA appointed the new managing Board.
- Managed to pay a part of debt towards TAK in the amount of
384.000 euro.
- Culminant result of Direct Administration was retroactive collection
of lease from August 2005 until June 2010 from UNMIK in the
amount of 2.537.309, 00 euro.
- In cooperation with PAK regional office in Prishtina, DA has
managed to prepare for sale two assets of this enterprise that were
sold to provisional buyer.
- Waiting until payment by
provisional buyers is done
and signing the contract in
order to propose withdrawal
of the enterprise from Direct
Administration and return it
to the Administration of PAK
regional office in Prishtina.
- After the approval of PAK Board all the enterprise’s liabilities
towards workers until June 30, 2010 have been cleared.