Saigon zoo operator posts $800,000 loss
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The Saigon Zoo-Botanical Garden Company Ltd reported a loss of VND18.8 billion ($809,600) for the first half as Covid-19 kept people away from its zoo.
The operator of the country’s largest zoo in Ho Chi Minh City saw revenues drop by half year-on-year to VND27 billion ($1.2 million). The 156-year old zoo in District 1 closed for two months from March 20 as Covid-19 containment measures took effect. Its loss was the third largest among seven loss-making state-owned companies based in the city. The operator also has VND18 billion ($775,200) in debts, mostly salaries. Its 270 employees have agreed to a 30 percent salary cut this month.
It recently called for public donations to help the zoo care for its 1,500 animals, which require nearly five tons of meat, vegetables, fruit, and leaves daily.
The zoo has over 125 animals and 900 plant species.
Questions & Answers
Q.How much revenue did the Saigon Zoo-Botanical Garden Company Ltd generate in the first half?
How much revenue did the Saigon Zoo-Botanical Garden Company Ltd generate in the first half?
The company’s revenues for the first half of the year were VND27 billion, which equates to $1.2 million. This figure represents a 50 percent decrease compared to the same period last year.
Q.What is the primary reason for the zoo’s financial losses during this period?
What is the primary reason for the zoo’s financial losses during this period?
The main cause of the financial loss was Covid-19, which prevented visitors from attending the zoo. Containment measures led to a two-month closure of the facility from March 20.
Q.What measures have the zoo’s employees taken to help with the financial situation?
What measures have the zoo’s employees taken to help with the financial situation?
The zoo's 270 employees have agreed to a 30 percent reduction in their salaries for the current month. This measure aims to help the company manage its finances.
Q.How large are the zoo’s debts, and what do they primarily consist of?
How large are the zoo’s debts, and what do they primarily consist of?
The zoo has debts totalling VND18 billion, which is approximately $775,200. These debts are largely comprised of unpaid salaries owed to its staff.