Hai Ha Petro owes 3,900 billion VND as of December 2023

In addition to delaying the payment of tax debt of more than VND 1,775 billion, owing BIDV Bank, Long Bien Hanoi branch VND 2,142 billion, it is known that Hai Ha Waterway Transport Company Limited (Hai Ha Petro) also owes another bank an amount of up to VND 3,900 billion (as of December 2023).

Hai Ha Petro owes SHB 3,900 billion VND as of December 2023

Headquarters of Hai Ha Waterway Transport Company Limited in Diem Dien town (Thai Thuy district, Thai Binh province). Photo: Hai Ha Petro

Hai Ha Petro's total debt is more than 6,698 billion VND. By November 2023, Hai Ha Petro has had credit relationships with 5 banks, including: Bao Viet Commercial Joint Stock Bank (BAOVIET BANK), Saigon - Hanoi Commercial Joint Stock Bank (SHB ), Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) - Chuong Duong Branch, Vietnam Prosperity Joint Stock Commercial Bank (VPB), Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) - Long Bien Hanoi Branch. Hai Ha Petro's total debt at these banks is more than 6,698 billion VND, most of which is overdue debt. According to documents collected by Lao Dong reporters, at BIDV - Long Bien Hanoi Branch, Hai Ha Petro owes 2,142,118 billion VND. Of which, long-term loan balance with the possibility of capital loss is 60,927 billion VND. Total other outstanding debt is 2,081,191 billion VND (possibility of capital loss 501,261 billion VND, bad debt 1,579,930 billion VND). Currently, it is known that BIDV - Long Bien Hanoi branch is preparing to propose a plan to auction dozens of salable mortgaged assets of Hai Ha Petro to recover debt.

Hai Ha Petro's oil depot and oil tankers have been sealed and managed by the investigation agency since January 10. Photo: Nam Hong

In addition to BIDV Long Bien Hanoi branch, as of December 23, 2023, Hai Ha Petro also has a bad debt of 166,798 billion VND at Vietnam Joint Stock Commercial Bank for Industry and Trade ( Vietinbank ) Chuong Duong branch. At SHB, Hai Ha Petro still owes about 3,900 billion VND before December 23, 2023, most of which are overdue debts. Loan collateral is future goods, red books, stocks, capital contributions... According to Lao Dong reporter's investigation, Hai Ha Petro uses a lot of assets from personal property, real estate and other types of assets as collateral for loans worth thousands of billions at Saigon - Hanoi Joint Stock Commercial Bank (SHB). As of October 31, 2023, the enterprise has used the following assets to secure its loans at this bank: 4 oil tankers of Hai Ha Petro worth more than VND 1,177 billion; 500 million (savings books) of deposit contracts issued by SHB, 30 future commodity contracts of imported production materials and 46 future commodity contracts of domestically produced production materials, with a total value of several thousand billion VND. The capital contributions of individuals in Hai Ha Waterway Transport Company Limited have also been mobilized to use as loan collateral such as: Nearly VND 305 billion of capital contributions of Mr. To Van Tho and Mrs. Tran Thi Tuyet Mai; VND 8,640 billion of capital contributions of Mr. Nguyen Manh Linh; VND 96,576 billion of capital contributions of Ms. Tran Thi Thu Hang. In addition, there are many real estate assets under the name of Hai Ha Petro legal entity including: Certificate of Land Use Rights (GCNQSDD) and ownership, assets of Ha Dong gas station, Hanoi; Thanh Tri gas station, Hanoi; Hai Ha Nghi Son gas depot project; import-export car terminal project in Lang Son province; land plot No. 44 in Chuoi village (Le Loi commune, Gia Loc district, Hai Duong province); land plot No. 624 in An Hong commune (An Duong district, Hai Phong); land plot No. 31 at No. 172 - 172A Nguyen Dinh Chieu (Ward 6, District 3, Ho Chi Minh City) with a total value determined at nearly 500 billion VND. In addition, 15,000 shares issued by Central Pharmaceutical Joint Stock Company 1 (Pharbaco) (code PBC) owner of Dai Hai Ha Petro One Member Co., Ltd. and 20,000 shares of Pharbaco (PBC) owner of Phap Van Agricultural Materials Joint Stock Company with a total value of more than 423 billion VND were also used by Hai Ha Petro as collateral for loans at SHB. Of which, 15,000 shares of PBC owner of Dai Hai Ha Petro One Member Co., Ltd. worth 185.193 billion VND; 20,000 shares of PBC owner of Phap Van Agricultural Materials Joint Stock Company worth 246,924 billion VND. In the latest development related to Hai Ha Petro, on January 12, the Ministry of Industry and Trade issued Decision No. 63/QD-BCT on revoking the Certificate of eligibility to act as a petroleum wholesaler for Hai Ha Waterway Transport Company Limited (ie Hai Ha Petro, head office address at No. 132, Zone 6, Diem Dien Town, Thai Thuy District, Thai Binh Province).

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