The debt and asset trading company sharply reduces interest rates

09-Sep-2020 Intellasia | NDH | 6:02 AM Print This Post

The Financial Statements of Vietnam Debt and Assets Trading Co,.Ltd (DATC) recorded a semi-annual revenue of more than 540 billion dong, a decrease of 45 percent compared to the same period last year. In addition to the main source of revenue from trading and handling debts and assets, the business also had additional revenue from financial activities of 120 billion dong.

DATC’s board of directors said that this year’s business activities were promising because the debt trading market was being formed, while the business had good relationships with many credit institutions to coordinate in handling bad debts. The replacement decree on converting 100 percent state-owned enterprise into a joint-stock company also created favourable conditions for debt settlement and corporate restructuring.

The disease negatively affected most industries. However, DATC believed that this was a positive signal for businesses because it was likely that more bad debts would arise in the future. Nevertheless, in the first half of the year, the company only made a profit of approximately 70 billion dong, which decreased by more than 31 percent year-on-year.

This enterprise, formerly known as Vietnam Debt and Asset Trading Corporation, was classified as a special State-owned enterprise with a charter capital of more than 6 trillion dong. The company were currently under the management of the Ministry of Finance.

As of the end of June, DATC’s total capital was approximately 27.3 trillion dong, of which nearly 21.5 trillion dong was liabilities.

 


Category: Finance, Vietnam

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