Two debts with a total value of more than 1,000 billion at BIDV
BIDV Bank has just announced the selection of an organization to auction the debt of Sado Germany Window JSC.
The collateral for this debt is real estate at the Tempered Glass Factory in Bien Hoa City, Dong Nai Province, including machinery for production at the factory and 6 means of transport.
The starting price for Sado Germany Window's debt is more than 510 billion VND.
Also at BIDV, the bank is looking for a buyer to auction all debts of Nam Ninh Construction Company Limited and Nam Ninh Investment and Trading Company Limited arising at BIDV Ninh Binh and BIDV Tam Diep, according to the credit contracts signed in 2014 and 2020. Both of these enterprises are owned by Mr. Vu Duc Thong, operating in the construction and installation sector.
BIDV did not provide specific information about the collateral for these loans, only stating that it was “according to signed mortgage contracts.”
The total debt value of these two enterprises as of October 29, 2023 has reached more than 752 billion VND. Of which, the principal balance is 562,586 billion VND.
The starting price for this debt is 677 billion VND, the auction will take place at 10:00 on November 29.
In the process of recovering bad debt, BIDV is also looking for a partner to organize an auction of the property, which is the Ha Hai - Quang Tri Petroleum Depot in Cua Viet town, Gio Linh district, Quang Tri province, under the name of Hai Ha Waterway Transport Company Limited (HaiHa Petro).
Ha Hai - Quang Tri petroleum depot has an area of over 30,000m2, including petroleum storage tanks, E100 storage tanks, and level 1 petroleum industrial works.
The starting price for the above asset given by BIDV is 176 billion VND.
HaiHa Petro currently has 22 petrol stations and 200 customers who are distributors, general agents, and direct sales agents nationwide.
Debt price drastically reduced from over 530 billion VND to over 60 billion VND
Not only BIDV, VietinBank is also urgently handling "huge" debts. Most recently, VietinBank announced the auction of bad debt worth more than 399 billion VND (original debt 212 billion VND) of BBP Paper JSC.
The secured debt is: The entire factory, machinery, equipment and other items serving production are built and installed on land with an area of nearly 32,000m2 in Phu Ninh district, Phu Tho.
In addition, the collateral assets include a bamboo pulp bleaching equipment line with a capacity of 10,000 tons/year, other equipment systems, a 1,500KVA transformer, and a number of other means of transport.
Although the debt is up to more than 399 billion VND, the starting price given by VietinBank is only 60.895 billion VND. The reason is that this debt has been put up for sale by the bank many times but there are no buyers. This debt has been put up for sale more than 10 times but the results are the same.
It is known that the starting price for the first time held on September 23, 2022 was 350.3 billion VND. Thus, after more than 10 unsuccessful auctions, the starting price of this debt has decreased by 290 billion VND, equivalent to 82%.
Among the banks that have been actively selling debts recently, Agribank is the bank with many debts or assets worth hundreds of billions that need to be transferred.
Most recently, this bank announced the auction of more than 6,700 square meters of land in Vung Tau City, with a land use rights certificate granted to an individual. The starting price for this property is 128.454 billion VND, the auction will take place on December 1.
Also in Ba Ria - Vung Tau, Agribank is selling a land plot of more than 9,700 square meters in Phu My town, Tan Thanh district with a starting price of VND162 billion. The auction will take place on December 7, 2023, but the bank did not provide specific information about the person who is granted land use rights for this land.
Agribank has also just announced the auction of 3,071 square meters of land at 309 Binh Quoi, Ward 28, Binh Thanh District, Ho Chi Minh City. This is the collateral for two loans of Thai Duong International Import-Export Production Trading Company Limited and V.LIFE Trading Service Company Limited.
The starting price for the above property is 154.8 billion VND, a decrease of 12 billion VND compared to the starting price announced half a year ago.
In addition, some debts have large values but are facing difficulties in resolving them completely, typically the debt worth 349 billion VND (principal debt of 96,887 billion VND) of Song Hau Farm at Agribank Can Tho Branch.
Agribank has announced many auctions for this debt over the years, but now the bank has only offered a starting price of 98 billion VND, equivalent to the original outstanding debt.
Or the property is the Tre Xanh Hotel complex - Tre Xanh Plaza with a total area of over 14,000m2 at 18 Le Lai, Tay Son Ward, Pleiku City, Gia Lai Province, invested by Hoang Kim Tay Nguyen Group Joint Stock Company, which is being offered for sale by Agribank Gia Lai Branch with a starting price of VND 80.66 billion. This starting price has decreased by nearly VND 16 billion compared to the first offering price in July 2023.
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