The value of the debt at the end of June 2023 is more than 355 billion VND. Of which, the principal balance is 133.2 billion VND and 3.7 million USD; the interest debt is 75.5 billion VND and 2.4 million USD and the interest will continue to accrue from June 30, 2023 until Southern Installation Trading and Service Company Limited fully pays off the principal and interest of the loan at Agribank Nam Da Nang Branch.
The auctioned assets include land use rights and assets attached to the land at 404 Dien Bien Phu (Thanh Khe District, Da Nang City). The total land area is nearly 2,293 m2, of which urban land is 2,278.5 m2, land for perennial crops is 14.6 m2.
In addition, there are two mortgaged assets of Southern Installation Trading and Service Company Limited in Hoa Khanh Industrial Park (Lien Chieu District, Da Nang City).
Specifically, at Road No. 3, the total leased land area is nearly 20,000 m2, the land lease term is 40 years (from July 9, 2007 to December 12, 2046). The mortgaged assets include the office building, finished product warehouse, car painting house, garage, public toilet, underground water tank, material warehouse, processing house, workers' rest house... and engine assembly line, machine assembly line.
The remaining collateral assets related to the debt are the warehouse, office, equipment workshop, laboratory, guard house, generator room and other auxiliary works attached to the leased land at address No. 10, Hoa Khanh Industrial Park. The leased land area is 12,121 m2, lease term is 45 years (from 2002-2046). The future assets are the foundry attached to the leased land, the casting equipment chain system.
The starting price for the debt auction is VND246.8 billion. The above price does not include taxes, fees and other financial obligations.
Time and place for selling documents and registering to participate in the auction continuously from December 29, 2023 to January 8, 2024, at Bao Viet Joint Stock Auction Company (Hoa Minh Ward, Lien Chieu District, Da Nang City).
The deposit is 24.6 billion VND, equivalent to 10% of the starting price. The auction will be held on the afternoon of January 10.
Southern Machinery Installation Trading and Service Company Limited has its business address at Road No. 10, Hoa Khanh Industrial Park, and was granted the first Business Registration Certificate by the Department of Planning and Investment of Da Nang on June 29, 2001. The legal representative of the company is Mr. Le Ba Huy - Director. The company operates in the business of installing all kinds of agricultural and fishery machinery; restaurant, wine and beer business; processing and trading of diesel engines, excavators, and trading of electrical appliances.
Because he initially started his career as a diesel engine dealer, Mr. Huy was nicknamed Huy "Diesel Engine".
The land that the bank is selling is part of the Ancient Space Tourist Service Area (402-404 Dien Bien Phu).
This tourist area has an area of nearly 5,000m2. Mr. Huy has invested about 470 billion VND in this area. The total value of the entire land is estimated at about 650 billion VND. Currently, this service area operates restaurants and cafes.
Previously, in mid-December 2023, Agribank advertised for sale the above debt but was unsuccessful.
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