Recently, many banks have announced auctions for large-value debts, amounting to hundreds of billion Vietnamese dong. However, in addition to the commonly seen assets such as real estate, cars, factories, etc., there are banks selling unique and rare items.
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Auction of graphite ore
For example, Agribank announces the auction of 500 tons of graphite ore from Vietnam Carbon & Graphite Co., Ltd. and 300 tons of graphite ore from Lam Ngoc Investment and Trading Co., Ltd. These are collateral assets for loans at Agribank’s Tay Ho branch. The ores are in dry crystal form, packaged in bags and have been handed over to Agribank’s Tay Ho branch for asset disposal.
Accordingly, Agribank will auction 500 tons of graphite ore from Vietnam Carbon & Graphite Co., Ltd. (carbon content of 92%-93%, -100 mesh) with a starting price of 4.611 billion Vietnamese dong.
Meanwhile, Agribank wants to auction 300 tons of graphite ore (carbon content of 90%-92%, -100 mesh) from Lam Ngoc Investment and Trading Co., Ltd.
The starting price for this asset is 2.36 billion Vietnamese dong. The price does not include taxes, fees, and other financial obligations as required by law.
Auction of fertilizers
Agribank’s Thai Nguyen branch auctions assets of SumaGrow Vietnam Co., Ltd., which are organic fertilizers.
Specifically, the auctioned asset for this debt is 89,482 liters of organic microbe-based fertilizer Sumagrow, made in the United States. The asset is located in Can Tho city. The batch is collateral for SumaGrow Vietnam’s loan at Agribank Thai Nguyen according to the credit agreement signed in 2020.
The starting price for this auction is 245,000 Vietnamese dong per liter. The minimum sale value is equivalent to one billion Vietnamese dong or more. The goods are divided into 22 lots, with lots numbered from 01 to 21, each containing 4,082 liters, and lot 22 numbered with 3,760 liters. Bidders for lot 22 are required to purchase at least one more lot from lots 01 to 21 to ensure that the sold amount is equivalent to one billion or more.
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Debts worth a few thousand Vietnamese dong
The bank also surprises when wanting to sell consumer loans without collateral, only worth a few thousand Vietnamese dong.
Specifically, VietinBank auctions 646 consumer loans of individuals who have lost the ability to repay the debt and have no collateral. The total book value (principal, interest, penalty interest) of these loans is 12.7 billion Vietnamese dong.
The starting price for these bad debts is set equal to the book value (principal, interest, penalty interest).
However, the bank stated that it can sell each individual debt, some debts, or sell all debts together. Among them, the debt with the lowest starting price is 13,216 Vietnamese dong. The highest valued debt is over 206 million Vietnamese dong.
VietinBank also wants to sell 535 consumer loans with a total value of 11.6 billion Vietnamese dong, including the lowest valued loan of 1,839 Vietnamese dong with no collateral.
