A series of banks are selling assets of Trung Linh Phat Petroleum.

The real estate assets of the chairman of Trung Linh Phat Petroleum Company and the company's assets such as land and vehicles are being sold by a series of banks.

Petrol station of Trung Linh Phat Company - Photo: C.DUNG

Vietnam Joint Stock Commercial Bank for Industry and Trade - Ha Giang branch ( VietinBank Ha Giang) has just announced the selection of an organization to value the debt of Trung Linh Phat Company Limited.

The appraisal of the market value of this debt serves as the basis for determining the starting price for the public auction of the debt.

The collateral includes 4 land use rights owned by Trung Linh Phat Company Limited, 5 land use rights in Ninh Binh City, Ninh Binh Province owned by Mr. Tran Van Dan, Chairman of the Board of Directors of the company.

In addition, the collateral also includes 3 means of transport, inventory, property rights, etc. owned by Trung Linh Phat.

Also related to Linh Trung Phat, in October 2024, Vietnam Maritime Commercial Joint Stock Bank (MSB) announced the auction of 4 assets of this company.

All are related to land use rights, house ownership rights and other assets attached to land, within a total area of ^{​​1,540m2} .

Previously, in August 2024, Agribank Ninh Binh branch also announced the auction of Linh Trung Phat's mortgaged assets.

In which, the starting price for land use rights on an area of ​​over ^1,087m2 and assets on the land including gas stations, gas storage tanks, etc. is 15 billion VND (excluding tax).

At the same time, a Mitsubishi pickup truck manufactured in 2017 is being sold for more than 343.5 million VND.

Last year, at the end of October, BIDV Nam Dinh announced the auction of assets of Trung Linh Phat Company Limited.

The assets offered are 3 land use rights and assets attached to the land, total area ^331.5m2 . The total starting price is more than 20.4 billion VND.

Linh Trung Phat is a petroleum hub, headquartered in Ninh Binh.

This enterprise was determined to have committed a series of business violations such as stockpiling, distribution, etc. and "embezzled" more than 26 billion VND from the stabilization fund.

At the end of November, the Ministry of Industry and Trade revoked the import-export license of Linh Trung Phat.

The company must also immediately pay the entire balance of the petroleum price stabilization fund and the amount owed to the fund up to the time of license revocation, plus any interest incurred, into the state budget.

In addition to Linh Trung Phat, the petroleum market also has a number of companies violating the petroleum business, including causing losses to the petroleum stabilization fund.

For example, Xuyen Viet Oil Company caused a loss of 1,463 billion VND from the gasoline price stabilization fund and environmental protection tax.

Source: https://tuoitre.vn/hang-loat-ngan-hang-rao-ban-tai-san-cua-xang-dau-trung-linh-phat-20241217113337574.htm