VietinBank Sa Dec Branch (Dong Thap) has just announced the results of selecting an organization to auction assets for the assets securing the loan of Golden Lotus Petroleum Company Limited (Golden Lotus Petroleum) at VietinBank Sa Dec.

The selected auction organization is Dong Nam Auction Company, located in Tan Binh District, Ho Chi Minh City.

The assets of Golden Lotus Petroleum to be auctioned include:

Asset 1: Land use rights with a total area of ​​624.4m2 (including 300m2 of residential land and 324.4m2 of perennial land), assets attached to the land, located in Phu Ninh Hamlet, Song Phu Commune, Tam Binh District, Vinh Long Province, owned by Mr. Trinh Thanh Hung - Director of Bong Sen Vang Petroleum Company Limited.

The property attached to the land is a retail petrol station with construction items including: transaction office, petrol pump, petrol tank.

The starting price of the above property is 11 billion VND.

Asset 2: Land use rights with a total area of ​​1,901.5m2 (including 300m2 of residential land and 1,601.5m2 of perennial land), assets attached to the land, located in Dong Hoa 2 Hamlet, Dong Thanh Commune, Binh Minh District, Vinh Long Province, owned by Mr. Trinh Thanh Hung.

The property attached to the land is also a gas station of Golden Lotus Petroleum Company, area 461m2.

The starting price of the above property is 9 billion VND.

Asset 3: Land use rights of 1,051m2 (including 300m2 of residential land and 751m2 of land for perennial crops), located in Dong Thanh A hamlet, Dong Thanh commune, Binh Minh district, Vinh Long province, also owned by Mr. Trinh Thanh Hung.

The property attached to the land is also the gas station of Golden Lotus Petroleum Company built in 2012.

The starting price of this property is 7 billion VND.

In addition to the above collateral assets, in January 2024, VietinBank Sa Dec also informed that it was preparing to auction collateral assets for the loan of Golden Lotus Petroleum, which are: land use rights of an area of ​​829.7 square meters at plot number 320, map sheet number 11 issued by the Department of Natural Resources and Environment of Vinh Long province to Golden Lotus Petroleum.

The above property is land for a gas station, starting price 18 billion VND.

In addition, 9 gas stations in Can Tho City are also used as collateral for this enterprise's loans at VietinBank Sa Dec. These assets are being offered for sale with a total starting price of 50 billion VND.

These 9 plots of land have an area ranging from the smallest of 100m2 to the largest of more than 7,100m2. Of these, two land use rights are owned by Ressol Petrochemical Trading Joint Stock Company (a company headquartered in Can Tho City), the rest are owned by Mr. Duong Toan Huy and Ms. Nguyen Thi Thu Ha.

Golden Lotus Petroleum Company was established in 2011, headquartered in Can Tho City, and is one of the key enterprises whose petroleum business license was revoked by the Ministry of Industry and Trade in February 2023.

Recently, a series of key petroleum trading enterprises have been seized by banks. Most recently, Agribank announced the auction of collateral, an ancient house with an area of ​​over 287 square meters at 19 Hang Chieu Street, Hoan Kiem District, Hanoi, with a starting price of 54 billion VND.

This is the collateral for a loan of Dai Viet Petroleum Trading Company Limited under a loan contract from 2018.

In particular, after a series of violations occurred at Xuyen Viet Oil Trading, Transport and Tourism Company Limited, many banks announced the auction of collateral assets at this company.

Xuyen Viet Oil is in debt at a number of commercial banks, with a total outstanding debt of about 5,500 billion VND.

Specifically, Agribank has recently put up for sale a debt of VND92,677 billion of Xuyen Viet Oil. The assets securing Xuyen Viet Oil's loan at Agribank include 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 in Hamlet 1, Suoi Kiet Commune, Tanh Linh District, Binh Thuan Province.

Among them, BIDV is the largest creditor of Xuyen Viet Oil with an 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 VND1,365 billion. These debts are all classified as bad debts by the bank.

Xuyen Viet Oil also has loans at two banks in the group of state-owned commercial banks, one of which is VND 815 billion and has been classified as bad debt and another of nearly VND 78 billion is classified as debt with the possibility of losing capital.

BIDV is also a major capital sponsor for other petroleum giants, including Hai Ha Waterway Transport Company Limited (Hai Ha Petro) and related parties at Trung Linh Phat Company Limited (a petroleum wholesale enterprise in Ninh Binh).

BIDV is carrying out procedures to auction the collateral for Hai Ha Petro's loan, which is the Ha Hai - Quang Tri petroleum depot in Cua Viet town, Gio Linh district, Quang Tri province, with a starting price of VND176 billion.

This bank also sold the right to use 19 plots of land in Ninh Binh with a starting price of 211 billion VND to recover the debt of a leader of Trung Linh Phat Company.