Vietnam Joint Stock Commercial Bank for Industry and Trade - Debt Management and Asset Exploitation Company Limited ( VietinBank AMC) has just announced the sale of debt of 3 companies at VietinBank Branch 4, Ho Chi Minh City, with a "huge" amount of collateral assets including more than 30 real estates and 2.6 million DDG shares of Dong Duong Import-Export Industrial Investment Joint Stock Company.

Specifically, the debt of Phuong Thanh Tam Group Joint Stock Company at VietinBank Branch 4, Ho Chi Minh City according to the loan contract dated November 15, 2021.

The collateral for the debt includes 2 land use rights and assets attached to the land at plot number 883-884, map sheet 17, at the address: Trung An commune, Cu Chi district, Ho Chi Minh City, in the name of Mr. Vo Van Dao - legal representative at Phuong Thanh Tam Group Joint Stock Company.

In addition, VietinBank AMC is selling the debt of Dong Duong Import-Export Industrial Investment JSC at VietinBank Branch 4, Ho Chi Minh City according to the loan contract dated August 5, 2022.

Assets securing the debt include:

2 land use rights with an area of ​​136.2m2 at plot number 1053, an area of ​​104.6m2 at plot number 1054, map sheet number 21, Phu Huu ward, district 9 (now Thu Duc city), HCMC.

25 land use rights at plot of land on map sheet number 11, Phu An commune, Tan Phu district, Dong Nai province.

In addition to the above real estate series, the collateral for the loan also includes 2.6 million DDG shares of Dong Duong Company owned by Mr. Le Nhat Phong and Ms. Le Thi Xuan Yen.

DDG shares are listed on the Hanoi Stock Exchange and have been on warning since April 9. DDG shares' price on September 12 was VND3,300/share.

IMG_8D6B71A41B18 1.jpg
One of the mortgaged assets is real estate at the Golden Hills Da Nang Project. (Photo: Da Nang Newspaper).

The remaining enterprise with debt for sale is Reenize Trading JSC.

The collateral for the debt includes: All land use rights and assets attached to the land at plot number 501, map sheet 39 in Hiep Phu ward, district 9 (now Thu Duc city), Ho Chi Minh City, in the names of Mr. Nguyen Van Diem and Ms. Nguyen Thi Huong Sen.

All land use rights and assets attached to land at plot number 516, map sheet 41 at 41 Truong Van Thanh, Hiep Phu ward, Thu Duc city, Ho Chi Minh city, are in the names of Mr. Do Dinh Xam and Ms. Nguyen Thi Doan.

All land use rights and assets attached to land at plot number 645, map sheet 259 at 40 Go Xoai, quarter 11, Binh Hung Hoa A ward, Binh Tan district, Ho Chi Minh City, are in the name of Mr. Pham Van Re and Ms. Le Thi Thanh Thuy.

All land use rights and assets attached to land at plot number 1420, map sheet 6 in Chieu Lieu quarter, Tan Dong Hiep ward, Di An city, Binh Duong province, are in the names of Mr. Nguyen Anh Tuan and Ms. Pham Thi Thu.

All land use rights and assets attached to land at plot number 616, map sheet 19 at number A5 Tran Phu, group 6, ward 4, Vinh Long city, Vinh Long province, are in the name of Mr. Tong Dinh Thang and Ms. Le Thu Ha.

All land use rights and assets attached to land at plot number 84, map sheet 25 at number 39 Trung Luong 11 street, lot 61, area B1-12, Hoa Xuan riverside ecological urban area - phase 1B, Hoa Xuan ward, Cam Le district, Da Nang city, are in the name of Mr. Pham Do Minh Triet.

All land use rights and assets attached to land at plot number 134 (old number B2-56-8), map sheet number 331 (old number Golden Hills - phase 1) at Golden Hills project (phase 1) - Area A, Hoa Hiep Nam ward, Lien Chieu district, Da Nang city, are in the name of Ms. Nguyen Thi Hoang Oanh.

VietinBank AMC did not provide specific information about the debt value, but with such a huge amount of collateral, the debt value could be up to hundreds of billions of VND.

The debts of the above three enterprises were auctioned at an agreed price.

Phuong Thanh Tam Group Joint Stock Company is a company operating in the steel business. Reenize Trading Joint Stock Company operates in the mechanical field. Dong Duong Company operates in the field of design, investment and construction of thermal steam - electricity supply systems.