National Debt and Assets Trading Co allowed to hike chartered capital

From July 23, 2011, the chartered capital of National Debt and Assets Trading one-member Ltd Co (DATC) will be adjusted up from two trillion dong to 2.481 trillion dong.

The Ministry of Finance (MoF) directed DATC to use minimum 70 percent of its total capital sources to trade debts and assets at 100 percent state-owned companies to make the financial situation become healthy during business activities.

In addition, DATC also has responsibility for receiving to deal with excluded debts and assets that were not included in the companies’ value when making equitisation.

In 2010, the company received excluded assets and debt recovery at 106 enterprises with a total value of 157.142 billion dong and the real recovery value was 55.82 billion dong.

Regarding debts trading activities and outstanding assets, DATC signed 13 contracts with a total outstanding debt value of 357.147 billion dong and the debt trading turnover was 101.36 billion dong. The company’s revenue from debt and asset trading activities was 393.613 billion dong, up 16.5 percent against 2009′s actualised figure.

DATC also finalised the restructuring for 14 enterprises including three state-owned firms which changed to joint stock companies and made the financial restructuring for 11 joint stock companies.

 

Category: Business