Celestial Tech Limited

The CEO of Celestial Tech Limited is extremely proud of the fact that never during the history of the company he has taken a bank loan. There may be two reasons for that:

One reason might be that the business of Celestial Tech Limited is simply not bankable. If you ask a Bangladeshi bank to keep the cash flow running while the company is waiting that funds from Letters of credit are being released, and the bank finds out that actually all the letters of credits are going to Celestial Tech’s offshore sister companies and actually very little money is being generated in the Bangladesh entity, the banks lose interest in financing

The other reason might be that it is much more convenient for the CEO simply not to pay the salaries of the employees for months, or in other words, taking an interest free loan from the employees and let the employees finance the cash flow gaps. When confronting the CEO with the fact that it is not fair to let the employees suffer and let them finance the company, you are being told that this is absolutely normal, and this is also usual practice in the West. I am not sure which “West” he is referring to, maybe he is referring to the partial shutdown of the government operations in the United States.

To me the governmental shutdown in the US is not normal and letting the employees of Celestial Tech finance the operation of Celestial Tech , especially at times when the CEO and his family spends value time on their holiday trips, is definitely not normal.

Any contribution from your side, any comments?