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VAMC to auction bad debts starting at nearly 10 million USD
The Vietnam Asset Management Company (VAMC) has disclosed its plan to auction off bad debts from two clients, namely Phuc An Khang International Hospital Corporation and Binh Duong Construction Stone Co., Ltd.
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| Illustrative image (Photo: VAMC) |
VAMC has purchased the bad debts of Sacombank related to Phuc An Khang International Hospital and Binh Dương Construction Stone. The starting price for the auctioned debt is more than 239.23 billion VND (9.7 million USD).
The collateral for Phuc An Khang International Hospital's debt includes land usage rights for 8,048sq.m2 and ownership of an industrial facility in the Dong An Industrial Zone, Binh Duong province. It also comprises ownership of a residential property covering 377.3sq.m at 22 Ngo Quyen street, District 5, HCM City.
The collateral securing Binh Duong Construction Stone's debt consists of ownership rights to a residential property covering 506.1sq.m at 204A Nguyen Trai street, District 5, HCM City.
The sale and acceptance of auction documents will run from September 18 to October 7 at VAMC headquarters in Hanoi and HCM City.
Each buyer can purchase one set for 500,000 VND. Asset viewing will occur between September 18 and October 3, with debt profiles on display on October 3 and 4.
The auction requires a 25 billion VND deposit and will commence at 2.00pm on October 10, with multiple rounds of direct voting and bidding increments./.
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