Sacombank massively auctions debts with total value of nearly VND900 billion

22-Aug-2019 Intellasia | Vietnam Finance | 6:02 AM Print This Post

In less than a month, Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) will auction eight debts with a total starting price of nearly 900 billion dong.

Specifically, on August 22nd, Sacombank will auction four debts with a total starting price of above 300 billion dong. Two debts with the same starting price of 121 billion dong are of Dinh Ngoc Huong and Ngoc Suong Joint Stock Company.

The debt of Dinh Ngoc Huong under the credit contract dated September 6th 2011 has a total debt obligation to June 30th 2019 of 121 billion dong, including only 29 billion dong of debt principal, 52.4 billion dong of interest arose in the borrowing term, 22.8 billion dong of overdue interest, and the remaining was penalty of late payment of interest.

Meanwhile, the debt of Ngoc Suong company under the contract dated August 27th 2009 has a total debt obligation as of June 30th 2019 of 121 billion dong, including 48.7 billion dong of debt principal, 48.1 billion dong of interest arose in the borrowing term, and 24.2 billion dong of overdue interest.

In addition, Sacombank will also auction the debt of Le Tan Thanh Huynh Thi Hoang Em under the credit contract dated August 22nd 2014 with a total debt obligation as of June 30th 2019 of 34.1 billion dong, including 19.8 billion dong of debt principal, 10.4 billion dong of interest arose in the borrowing term, and the remaining amount was overdue interest.

Another debt to be auctioned on August 22nd is the debt of Huu Hau Construction Private Enterprise (now known as Huu Hau Construction Company Limited) under credit contract dated June 24th 2009 and credit contract dated August 2nd 2011 with a total debt obligation of 49.8 billion dong, including 15.4 billion dong of debt principal, 16.7 billion dong of interest arose in the borrowing term, 4.6 billion dong of overdue interest, and 13 billion dong of penalty for late interest payment. The starting price of the debt is 49.8 billion dong.

A day later, on Agust 23rd, Sacombank will continue to auction two debts with a total starting price of nearly 300 billion dong. One of the two debts is of Huu Lien Steel One member Limited Company with a total debt obligation as of June 30th 2019 of 225 billion dong, including 143 billion dong of debt principal, 55.5 billion dong of interest arose in the borrowing term, and 26.8 billion dong of overdue interest. The starting price of this debt is 225 billion dong.

The second debt is of Han Duc Minh under the credit contract dated May 26th 2010 with a total debt obligation as of June 30th 2019 reaching 71 billion dong, including 33.4 billion dong of debt principal, 25 billion dong of interest arose in the borrowing term, and the remaining is overdue interest. The starting price of the debt is 71 billion dong.

On August 29th, Sacombank will auction the debt of Thai Alain Minh under the credit contract dated June 4th 2008 with a total debt obligation of 124 billion dong as of June 30th 2019, including only 30 billion dong of debt principal, and the remaining is interest in the borrowing term, overdue interest and late interest payment penalty. The starting price of this debt is equal to the total debt obligation.

On September 12th, Sacombank will auction Lam Ai Viet’s debt under the credit contract dated November 4th 2010 with a total debt obligation of 132 billion dong, including 31 billion dong of debt principal, 58.5 billion dong of interest arose in the borrowing term and overdue interest, and 42.8 billion dong of penalty for late payment of interest. The starting price of this debt is 120 billion dong.

The total starting price of the above eight debts amounts to nearly 900 billion dong.

In addition to the above debts, Sacombank is also selling many secured assets with a total value of trillions of dong; such as the property rights arising from 27 compensation records with a total area of up to 20,800 square meters in Ward 6, District 8, HCM City of Bao Hung Residential Project, and two other land use rights in this Ward with a total area of over 12,600 square meters. The starting price of these assets is 928 billion dong.

In addition, Sacombank is also selling 25 land use rights in Ngai Thang Hamlet, Binh An Ward, Di An Town, Binh Duong Province with a starting price of 897 billion dong.

Particularly, Sacombank is currently selling many land use rights and construction works in Phong Phu commune, Binh Chanh district, HCM City with a starting price of up to 1.330 trillion dong.

 


Category: Finance, Vietnam

Print This Post