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Hanjin Heavy Industries & Construction Company  in the Philippines is currently facing some trials and some risk about their company's bankruptcy.  This year almost 90% of their workers lose their job because of low salary and lack of job opportunity in this shipping company

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I am shocked by the fact that Hanjin Heavy Industries

& Construction Company PHL has a total debt of 1.3 million pesos from the PH(400M) and SK(900M) banks. It has come to my conclusion that the company is in such a dilemma in finances due to the mismanagement of the company's flow of money. I am also shocked by the fact they are still continuing their operations with that amount of debt.

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In my opinion, I think the Hanjin's Construction Company is having problem due to their revenues falling behind, it cannot support its operations anymore under the burden of its current debt. That even our economy has been left out.

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Hanjin Heavy Industries &

Construction Company files  a petition of rehabilitation because they weren't able to pay their debts due to insufficient cash flow. Having a total debt of $ 1.3 billion. It goes to show that Hanjin was not able to handle it's finances well resulting to it's current state.

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I think it's a good decision for Hanjin to try and pay off their debts by filing for rehabilitation. Although it would take decades for them to earn up to 13 million to pay off everything. I think it's good that they are cutting down on workers and employees to spend less on wages and more on paying back their debt.

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As Hanjin Heavy Industries & Construction Company filed a petition for rehabilitation I think it is inevitable that they would file bankruptcy in the near future as their debt is already $400 Million and the sudden exponential decrease of workers of that are 90% during 2016 can lead to many Filipino jobless.

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In my opinion Hanjin Heavy Industries & Construction Company PHL is the one to blame because they have put themselves in that situation hence, helping them will not only solve the problem it will just make them look that they cant handle their business well and efficiently.

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Hanjin's heavy industries decision to file a  voluntary corporate rehabilitation is not a good idea because they still have a debt of $1.3 Billion in the Philippines and in South Korea that they could not pay. So, why would the government of the Philippines help the company. Hence, they should just file a bankruptcy because of the huge debt.

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HHIC Phil, was established in February 2006 by Hanjin Heavy Industries and Construction of South Korea, by then in January 2019 the company filed for the biggest bankruptcy in the Philippines with unpaid loan obligations amounting to $412 million according to sources. In year 2016 HHIC has 31,00 but in 2019 the company has only 3,812 employees.

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I think that Hanjin's Construction Company is indeed exceeded from its limit and the company also had a big debt to different banks in the Philippines and also Korea. It is really shocking that they have that kind of debt, that is why they filed a petition to protect them from the loans they got from the banks. I can say that filing a case for petition is a good way in able to protect them and make profits at the same time. The downside of the Hanjin's Construction Company is that when the years had passed by, the interest they will pay is also increasing. And it is a good thing that the company decreases its employees/workers.

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In my opinion on why Hanjin Heavy Industry and Construction Company filed for a voluntary corporate rehabilitation because they want to have protection on their debts to other companies and they have a major loss in their employees and filing for a rehabilitation will help them get back to into the business they was before.

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Hanjin Heavy Industries & Construction Company is in a lot of debt to the banks here in the Philippines and Companies in South Korea. They are in a desperate need of help to pay all their debts to does banks and companies. Due to the Hiccup that Hanjin is experiencing, many Filipino workers have been asked to leave the company. I believe Hanjin will still be around because they have many more projects to come but that's their only hope.

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Hanjin filed a petition for rehabilitation because they couldnt pay their current liabilities in the banks in the Philippines amounting $400M. With their file of rehabilitation they are not ruuning away from their liabilities but they are asking for help so that they could slowly pay their liabilities na solve their problems

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The first question that came to my mind was why did Hanjin Heavy Industries let their debts inflate that much? Were they not aware that they were indebted too much?
This scenario shows a serious negligence from the financial officers of Hanjin Heavy Industries because they let this happen. They should've made proper steps/solutions
in order to prevent the debt to inflate and they should've found a solution for it as soon as possible. This negligence will hurt our economy greatly. A lot of people will be
unemployed until the end of the company's rehabilitation. Now, the governement is pressured to give those unemployed people a welfare assistance or offer them part-time jobs
that will help them earn a little of what they were earning from working in Hanji Heavy Industries.

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I think the Hanjin Heavy Industry should come up with possible solutions for their company instead of focusing on their company's other activities. In line with this, Filipino workers are being troubled as well, what they earn isn't enough for their families.

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Hanjin's financial status has caused them a lot of problem. Given, they still asked for support instead of running away from it. Considering the fact that the lawyer said that it is not bankruptcy for they still want to take the responsibility of paying their debt.

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My Opinion on the situation, Hanjin Heavy Industries (HHI) is one the main source of the problem due to financial issues, as they are facing 400M Dollars liabilities. So I think that it's the right move to make a petition for rehabilitation. However it doesn't mean that they are able to manage the business correctly.

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At first I was shocked at the amount of debt that Hanjin have which are $400M in the Bangko Sentral ng Pilipinas and $900M in South Korea. I think that it is good that Hanjin filed petition for rehabilitation in order to prevent them from being defaulted.  If they haven't filed, their interest could have increased even more. It could have been a factor on how Hanjin became at risk is their decrease of employees from 31 000 (2016) to 3 812 (2019). I think that they lack assets and so they have neglected their debts

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hi