Oil and gas businesses are continuously having their debts seized by banks

Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank ) Sa Dec Branch (Dong Thap) has just announced the results of selecting an organization to auction assets for the loan collateral of Golden Lotus Petroleum Company Limited. The selected auction organization is Dong Nam Joint Stock Auction Company, located in Tan Binh District, Ho Chi Minh City.

Accordingly, the assets of Golden Lotus Petroleum to be auctioned include many land use rights in localities.

In addition, last January, VietinBank also informed that it was preparing to auction the collateral for the loan of Golden Lotus Petroleum, which is the land use right 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 the land of a petrol station, starting price 18 billion VND. In addition, there are 9 petrol stations in Can Tho City which are also used as collateral for this enterprise's loans at VietinBank Sa Dec. These properties are being offered for sale with a total starting price of 50 billion VND.

These 9 plots of land have the smallest area of 100m2 and the largest is over 7,100m2. Of which, 2 land use rights are owned by Ressol Petrochemical Trading JSC, the rest are owned by 2 individuals, Mr. Duong Toan Huy and Ms. Nguyen Thi Thu Ha.

Golden Lotus Petroleum 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established in 2011, headquartered in Can Tho City, and is one of the key enterprises whose petroleum business license was revoked by the Ministry of Industry and Trade in February 2023.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, petroleum enterprises have been continuously incurring bad debts at banks. Most recently, the Bank for Agriculture and Rural Development of Vietnam (Agribank) announced the auction of collateral for a loan of Dai Viet Petroleum Trading Company Limited under a loan contract from 2018.

Accordingly, the collateral is 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.

The bank has also put up for sale a debt of nearly VND93 billion of Xuyen Viet Oil. The assets securing the above loan 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.

The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is also looking for a partner to organize an auction of the Ha Hai - Quang Tri petroleum depot in Cua Viet town, Gio Linh district, Quang Tri province, owned by Hai Ha Petro to recover debt.

Ha Hai - Quang Tri petroleum depot has an area of over 30,000m2, including petroleum storage tanks, E100 storage tanks, and level 1 petroleum industrial works with a starting price of 176 billion VND .

Source: https://www.nguoiduatin.vn/doanh-nghiep-xang-dau-lien-tiep-bi-ngan-hang-siet-no-a656147.html