Indovina Bank My Dinh Branch (IVB My Dinh) has just announced the auction of assets including 51.2 tons of parts and components of old, broken, fully depreciated and non-reusable machinery and equipment, in scrap iron condition.

The starting price for this batch of assets is 512 million VND, equivalent to 10,000 VND/kg.

IVB My Dinh said that at the time of valuation, all of the above machines had been used for a long time, fully depreciated, had been disassembled into parts and components, were arranged in a messy manner, were no longer in their original condition, were not working and could not be repaired or were ineffectively repaired, and were only worth scrap iron.

According to the attached list, the total weight of 51.2 tons of equipment is mostly machinery and equipment imported from Japan and manufactured in 2008, put into use from 2008-2009.

Main equipment in the mechanical field includes: lathes, stamping machines, grinders, sheet metal cutting machines, wire cutting machines, metal pulse machines, electrostatic painting lines, nickel zinc plating lines, aluminum and zinc alloy casting lines, dynamic pressure casting lines,...

Another bank branch, VietinBank Ha Giang, has just announced the selection of an organization to value the debt of Trung Linh Phat Company Limited - a petroleum giant headquartered in Ninh Binh City, Ninh Binh Province.

Debt valuation serves as the basis for determining the starting price for public debt auction.

Trung Linh Phat is legally represented by Mr. Tran Van Dan, Chairman of the Board of Directors. The value of Trung Linh Phat's debt at VietinBank Ha Giang as of December 10, 2024 is up to VND 970 billion, of which the principal debt is nearly VND 681.2 billion.

The assets securing the debt are 4 land use rights owned by Trung Linh Phat Company Limited in Bac Quang district, Ha Giang province and in Yen Khanh district, Ninh Binh province; 5 land use rights owned by Mr. Tran Van Dan with an area of ​​523-639m2 at the same address in Ninh Khanh Urban Area, Ninh Khanh ward, Ninh Binh city, Ninh Binh province.

In addition, the collateral for Trung Linh Phat's loan also includes a land use right of 407.1 square meters at 141 Hai Ba Trung, Ward 6, District 3, Ho Chi Minh City, owned by Ms. Nguyen Thi Sau.

4 means of transport owned by Trung Linh Phat Company Limited, including 3 gasoline tankers and 1 Mitsubishi Triton pickup truck.

The collateral assets are inventories; property rights, receivables arising from economic contracts owned by Trung Linh Phat Company Limited.

And 6 savings books owned by Ms. Pham Thi Linh.

Petrol giant Trung Linh Phat had its petrol business license revoked by the Ministry of Industry and Trade from December 7, 2024 and was required to repay the entire balance of the Petrol Price Stabilization Fund and the amount owed to the fund up to the time the license was revoked.

In September 2024, Agribank Ninh Binh Branch also announced the selection of an organization to auction assets securing Trung Linh Phat's debt, including 2 land use rights on National Highway 10, Yen Bang Commune, Y Yen District, Nam Dinh Province; land areas of 242.2m2 and 405.4m2, respectively.

In addition, the collateral to be auctioned is a Mitsubishi pickup truck, manufactured in 2017, owned by Trung Linh Phat Company Limited.

The third auctioned asset is a land use right of 440 square meters in the name of Trung Linh Phat, in Lai Thanh commune, Kim Son district, Ninh Binh province.

Trung Linh Phat Company Limited is a major petroleum trading company with a large market share in the northern provinces. Recently, this company has been continuously put up for sale by banks to recover bad debts.