The auctioned debt includes the entire debt of Dong Sai Gon DSG Investment JSC, the book value of the provisional debt as of July 31 is 149.824 billion VND. Of which, the principal debt is 89.840 billion VND, the interest debt is 59.984 billion VND.

Interest will continue to accrue from August 1 until Dong Sai Gon DSG Investment JSC fully pays off the principal and interest of the loan at Agribank Phan Dinh Phung Branch.

Agribank said the starting price of the debt is VND111,375 billion, excluding taxes, fees and other financial obligations as prescribed by law.

Thus, compared to the auction on November 1, the starting price of the debt has decreased by more than 20 billion VND.

The assets securing the above debt include the land use rights of 3,000m2 at plot number 302, map sheet number 70 (TL2003), Lot T3-1.2 La Xuan Oai Street, Ho Chi Minh City High-Tech Park, Ward Tang Nhon Phu A, District 9 (now Thu Duc City).

The entire value of property rights is the profits earned from leasing infrastructure arising under the land lease contract at this land lot signed between Dong Sai Gon DSG Investment JSC and Saigon - Xuan Oai Trading and Service Company Limited on October 14, 2019.

The debt is auctioned in its original condition (including the original condition of the debt, collateral, legal status and potential risks) and in the "as is" and "as is" manner.

It is known that in October 2019, Dong Sai Gon DSG Investment Joint Stock Company is a cooperative enterprise with the Ho Chi Minh City Trade Cooperative Union ( Saigon Co.op ) to develop the Sense City Commercial Center project in the High-Tech Park of District 9, Ho Chi Minh City on the land that is being mortgaged for a loan at Agribank.

Sense City District 9 Shopping Center (also known as Sense City East Saigon) has a total investment of more than 620 billion VND (27 million USD), with a total project scale of over 50,000 m2 of floor space, including 1 basement parking lot and 4 above-ground floors. This is the second Sense City Shopping Center of Saigon Co.op in Ho Chi Minh City, after Sense City Pham Van Dong (Giga Mall).

Dong Sai Gon DSG Investment Joint Stock Company is chaired by Mr. Le Thien Giao. Mr. Giao is also the Director of Beton 6 Traffic Construction Joint Stock Company. In 2021, Beton 6 was accused by its partner of owing nearly 6 billion VND for construction and steel supply at the Sense City Dong Sai Gon Project, putting the partner at risk of losing capital and facing many difficulties in production and business.

Saigon – Xuan Oai Trading and Service Company Limited is legally represented by Mr. Pham Trung Kien. Mr. Kien is also the legal representative for a series of enterprises belonging to the Saigon Co.op system in Ho Chi Minh City, Hai Phong, Hanoi , Thanh Hoa, Vinh Phuc, etc.