Phnom Penh (FN), Feb. 29 - The Ministry of Labor and Vocational Training has announced to confiscate the assets of nine bankrupted factories and sell the assets in order to compensate the national budget, according to the Ministry of Labor's announcement on Thursday morning.

The action will be taken under two legal procedures; for bankrupted companies that the owner or company representatives are presently resolving, the action will be done through conciliation procedures; and for bankrupted companies that the owner or company representatives are not present, or present but no compensation, the ministry will act according to the court procedures.

Prime Minister Hun Sen has provided compensatory budgets of $4.6 million to more than 4,000 workers from nine bankrupted factories.
=FRESH NEWS