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Guvera’s Singapore staff also owed money

By | Published on Monday 12 December 2016


Following the news last month that former staffers of Guvera in the US and Latin America were still awaiting news about unpaid salaries, a former member of the streaming firm’s team in Singapore has reported a similar issue there to human resources publication HRM Asia.

As previously reported, after Guvera was forced to abandoned its plans to IPO in Australia in June, it pulled out of a number of markets, laid off a bunch of staff and put two of its Australian companies into administration. Though former employees linked to those two Australian subsidiaries got most of what they were due through the administration process.

However, ex-employees elsewhere in the world seemingly haven’t been so lucky. The former staff member talking to HRM Asia claims that each of the eight people who worked out of the firm’s Singapore office are still owed money, up to S$10,000 each, which equates to over £5000 per person. Execs in the office oversaw Guvera’s operations in various Asian markets, including Singapore, Malaysia, Vietnam, Thailand and Indonesia.

The former employee says Guvera’s Singapore staff were sent an email on 22 Jun stating that the firm’s business there had ceased trading on 30 Jun. There had been plenty of indications of Guvera’s financial problems internally – staff there had been working from home since March because the company couldn’t afford to fix a broken air con unit – though it was widely thought all would be fine once the IPO had gone through.

The source continues: “There were many creditors in Southeast Asia who were owed up to S$200,000 each, and were at the point of submitting letters to Guvera demanding for payment. But they held off on that because Guvera told them: ‘As soon as we list, you will get your money'”.

After the failed IPO, Guvera insisted it could still make a success of its streaming service in certain markets like India and Indonesia, though ex-employees in various countries don’t seem convinced. As previously reported, back in Australia the company recently sought regulator permission to postpone its AGM for investors because it can’t afford to pay the accountants doing the audit.