Bad debts continue to be actively handled by banks by selling debts or collaterals. At the present time, Vietnam Bank for Agriculture and Rural Development (Agribank) can be considered as the most active name in dealing with bad debts. That bank plans to sell a series of secured debts and assets worth trillions dong in August 2019.
Specifically, on August 22, Agribank will auction all secured debts with the assets of Thanh Tung Private Enterprise (Add No. 279 Ben Chuong Duong St, Co Giang Ward, District 1, HCM City). The book value of this debt amounted to 708 billion dong, with secured assets of nearly 7,000 square meters of land used for production in Tan Kien Commune, Binh Chanh District, HCM City. And future assets are the entire construction value of Hanh Phuc Apartment Building built on the above land plot.
The starting price for this debt is 357 billion dong.
Another large debt that Agribank will also auction in August 14 is the debt of Tan Phat Construction Investment Company Limited in Lam Dong Province.
The book value of the debt is over 312 billion dong, in which interest debt is double the original debt.
Security assets for the above debt are scattered in Da Lat City (Lam Dong), Binh Tan District (HCM City) and District 8 (HCM City). The starting price for this debt is over 312 billion dong.
The hundred billion debt of Vinh Tien Joint Stock Company will also be auctioned on August 19. The outstanding debt of this debt is currently over 139 billion dong and the starting price of Agribank is equal to the above debt balance.
Security assets are land area of 1,070 square meters (residential land in urban areas) and the house with a construction area of 1,070 square meters, a floor area of 1,457 square meters located at No. 87 Cao Xuan Duc St, Ward 12, District 8, HCM City. Along with that is a series of machinery systems, cars, etc.
Besides, Agribank will also auction security assets with a value of 139 billion dong on August 15. That is non-agricultural production land with an area of over 6,600 square meters in Ward 2, Vung Tau City, Ba Ria Vung Tau Province.
Thus, with only four debts and collaterals for sale, the total value of Agribank can be raised to about 950 billion dong.
Also in August, Agribank will auction many debts and security assets worth tens of billions dong, such as construction ownership of Hung Vuong Hotel and Hung Vuong Hotel Service Area in Quang Ngai Province with a starting price of 79 billion dong (auction on August 19); housing and land at No. 116/10 Banh Van Tran St, Ward 7, Tan Binh District, HCM City with a starting price of 56.5 billion dong (auction on August 8); housing and land at No. 62 Ton That Dam St, Ben Nghe Ward, District 1, HCM City with a starting price of 50.3 billion dong (auction on August 19), etc.
Besides Agribank, SaiGon Thuong Tin Commercial Joint Stock Bank (Sacombank) is also selling many debts and assets with a total value of trillions dong. Typical can be mentioned as 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 under Bao Hung Residential Project and two other land use rights in this ward, the total area is over 12,600 square meters. The starting price for these assets is 928 billion dong; 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.
Especially, 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 1.33 trillion dong.
