This is the next bank after BIDV to sell Xuyen Viet Oil's debt.
According to Agribank's announcement, Xuyen Viet Oil's debt at this bank was formed from Credit Contract No. 1400LAV202201197 dated July 28, 2022 and the attached contract appendices.
The total value of the provisional debt as of January 25, 2024 is VND 92,677 billion. Of which, the principal balance is VND 77,895 billion; the interest balance, overdue interest, and late payment interest provisionally calculated as of January 25 is VND 14,782 billion.
Interest will continue to accrue from January 26 until Xuyen Viet Oil has fully paid off the principal and interest of the loan at Agribank Lang Ha Branch.
The starting price of the debt is VND 92,677 billion, equivalent to the total value of the debt. The selling price does not include taxes, fees, charges and other financial obligations payable according to regulations.
The debt is auctioned as-is (including the debt's status, legal status and potential risks) and on an as-is basis.
The collateral for Xuyen Viet Oil's loan at Agribank includes 3 land use rights at addresses 77/9, 77/10, 77/5 Huynh Tinh Cua, Ward 8, District 3, Ho Chi Minh City; 1 land use right at Hamlet 1, Suoi Kiet Commune, Tanh Linh District, Binh Thuan Province.
Previously, BIDV also put this company's debts up for sale.
Xuyen Viet Oil is in debt at a number of commercial banks, with a total outstanding debt of about 5,500 billion VND.
In addition to the debt of more than VND92 billion at Agribank, this enterprise also has a debt of VND815 billion at a state-owned commercial joint stock bank.
In addition, Xuyen Viet Oil has outstanding debt of more than VND2,000 billion under two credit contracts signed between the company and BIDV Nam Ky Khoi Nghia Branch. Of which, one loan is worth VND789 billion and the other is VND1,365 billion. These debts are all classified as bad debts by the bank.
In addition, Xuyen Viet Oil also owes VND1,450 billion to SHB, including a loan of nearly VND953 billion and USD60.8 million. Similarly, this debt has also been classified as bad debt by SHB.
Xuyen Viet Oil is headquartered at 465-467 Hai Ba Trung, Ward Vo Thi Sau, District 3, Ho Chi Minh City, and used to be a major petroleum hub.
This enterprise has been a regular partner of the two oil refineries Nghi Son and Dung Quat for many years. The main market share of this enterprise is in some provinces in the Central Highlands and Ho Chi Minh City.
Regarding Xuyen Viet Oil, on September 8, 2023, the Ministry of Public Security's Investigation Security Agency (A09) initiated a case of "Violating regulations on management and use of state assets causing loss and waste" occurring at Xuyen Viet Oil Company and a number of related agencies and organizations.
The security investigation agency also decided to prosecute and temporarily detain two women: Mai Thi Hong Hanh - Director of Xuyen Viet Oil, Nguyen Thi Nhu Phuong - Deputy Director of Xuyen Viet Oil, for the crime of "violating regulations on management and use of state assets causing loss and waste".
Expanding the investigation of the case, since mid-December 2013, the Security Investigation Agency has continuously prosecuted and issued temporary detention orders for a number of individuals. That is Mr. Le Duc Tho (Former Secretary of the Ben Tre Provincial Party Committee) was prosecuted and temporarily detained to investigate the crime of "Taking advantage of position and power to influence others for personal gain".
On December 19, 2023, Mr. Le Duy Minh, Director of the Ho Chi Minh City Department of Finance (former Director of the Ho Chi Minh City Tax Department) was prosecuted and temporarily detained to investigate the crime of "Receiving bribes".
On December 21, 2023, the Security Investigation Agency also prosecuted and temporarily detained Deputy Minister of Industry and Trade Do Thang Hai to investigate the crime of "Receiving bribes".
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