Basically, my company LMR is a Mine Management Company in
Indonesia.
One of our secondary businesses is Minerals Trading.
The story goes,
We contract with three (3) buyers for the supply of
manganese ore.
-Malaysia
-Japan
-Indonesia
For operations in South Kalimantan we have our nominated
Mining Contractor, SAC.
Our mining contractor is responsible for the quality and quantity of minerals to be prepared on
our request.
By doing so, they request 50% production booking before
executing the contract.
So, the contract goes along the way ….
The buyers’ make a production booking by depositing 50%
payment.
95% of the Production booking is transferred to our Mining
Contractor, SAC to handle production and purchasing of additional tons of
manganese ore.
Everything goes according to contract with some delays
from production and processing ..
-Malaysia (Goods ready but below specification)
thus request for refund and penalty payment (refer to
red fonts above)
-Japan (funds had been “misused” by Mining
Contractor) only ¼ of the quantity was prepared
-Indonesia (Goods were ready but lack of funds
AGAIN to conduct the lab analysis)
So, three (3) contracts fail consecutively within a month.
Buyers / clients request refund of the production booking.
Malaysian client request additional penalty.
My company agrees after verbal confirmation from our Mining
Contractor (SAC) that they will make the request.
Therefore the refund should go ..
SAC à LMR à BUYERS/CLIENT
A month pass, and no payment was made. SAC make sudden claims
that they do not have the funds to make the refund (+) penalty.
Buyer/Clients get agitated and do not want to hear excuses.
They do not care who SAC is but ONLY, LMR.
Majority of LMR funds are heavily pumped into other mining
projects thus, we are unable to make the payments at the moment.
SAC & LMR formulate a strategy from contracting other
mineral sales to cover the refunds (+) penalty but payment is from others are
delayed.
Now the clients/buyers are impatient and wishes to sue our
company (LMR)
SAC claims to be “bankrupt” at the moment and blames the
fault to be of the ex-general manager who was sacked soon after the three (3)
contracts crash.
We at LMR plan as follows:
BUYER sues LMR , LMR sues SAC ..
The problem is that “if” SAC is truly bankrupt, LMR will
bare all damages and somehow, I personally believe that they are broke …
LMR contracted with SAC just recent for South Kalimantan and
in the past 6 months, SAC had caused the failure, of 4 contracts in total and
had NO SUCCESS.
Problem is along with my other departments like Production,
Planning & Research and Business Development, I am too responsible for
Minerals Trading…
The fault is of cause not of mine, but the Mining Contractor
but I am the man in the front representing my company.
My boss wants me to settle this problem … so yea .. Stressed
out …
One moment we these innocent 6 year old child jumping up and down on our parents bed just to get attention..
The very next moment we are in our teens letting our raging hormones lead every decision we make ..
(6 years old: Photos with my dad and uncle in the Sydney Zoo)
Had you ever asked yourself, "where you wanted to be 10 years time?"
When I was 18 years old, I recall sitting down at a coffeeshop with a couple of good friends and we did discuss the matter .. We talked about wives, children, career, cars, apartments, etc.. but little did we know then, life simply ain't that easy ....
Wife & Children: It's not simply the matter of love conquers all or finding the right person. For me, the big question is, am I financially ready to start a family? No, I am not .. Being based for work in Indonesia doesn't really help either .. (no offence to Indonesians), but I doubt I would want to raise a family here ..
((21 years old (left): Photo at my cousin's wedding 18 years old(right) Photo at another cousin's wedding))
Career: I have been blessed with opportunities to work and live in four different countries where I was exposed to the financial, manufacturing and eventually the mining industry at current. The potential in my current job is fantastic but it is still a long road ahead and I am not certain if would be here for another year or so ... So, yea .. career not settled yet ..
Cars, Apartments (Assets): I am still seriously lacking in good fixed assets ...
(23 years old: Photo taken in my apartment in Melbourne)
I ain't that old ! Next year I turn thirty and a lot of people mistake me for being in my late 30s or early 40s .. that seriously suck ... The problem I discovered is probably because of my weight lost ... when I was aged 18 odd I weight 70kg+ .. aged 23-26 I weighed 86kg+ (active gyming) .. now, I weigh 67.5kg .. Early this year, in Feb, I was struck with arthritis gout (doctor said too much intake of alcohol and medication + stress).. and I lost 13kg in a month and eventually shrunk from 88kg to 63kg in 2 months ... but, I plan to start gyming again to get my weight up ... Let's see how it goes ...
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