Agribank Announces Auction of Debt from Truong Hai Investment Service Co., Ltd.
Agribank has recently announced the selection of a bidding organization to auction off the debt of Truong Hai Investment Service Co., Ltd. This company, with a charter capital of VND 20 billion, operates in the real estate business and is headquartered at 111 Nguyen Van Cu, Long Bien, Hanoi, under the directorship of Mr. Nguyen Minh Vinh.
According to Agribank, the starting price for the debt is set at VND 53.92 billion, which is the book value calculated as of July 31, 2024.
The collateral for this debt includes all financial assets, such as receivables, payment requests, beneficial interests arising from contracts, exploitation and management rights, compensation rights, and other financial assets with monetary value. These assets are derived from the sales contract of apartments in the Ocean Gate Hotel & Residence Nha Trang project.
The aforementioned contract was signed between Truong Hai Investment Service Co., Ltd. and Van Phong Investment and Development Joint Stock Company (representing the joint venture of Van Phong Investment and Development Joint Stock Company and Khanh Hoa Tourism Investment and Development Joint Stock Company), involving the sale of 7 apartments ranging from 42.7 to 121.4 square meters. The total value of these apartments at the time of mortgage was over VND 30.294 billion.
Ocean Gate Project’s Interior Design. Source: Investor |
The Ocean Gate Hotel & Residence Nha Trang project is located at 8 Hoang Hoa Tham, Van Thanh, Nha Trang, Khanh Hoa, covering an area of 1,505 square meters. It comprises a 4-star hotel and luxury apartments, with 2 basement floors for parking, 9 floors for services and commercial centers, 9 floors for hotels, and 22 floors for 4- and 5-star apartments.
In addition, Agribank also announced the auction of the entire debt of Cuom Viet Co., Ltd. at Agribank – Saigon Branch, which originated on October 15, 2020. The debt value, as of July 31, 2024, stands at VND 123.379 billion, and the bank has set the starting price for the auction at VND 111 billion. Participants in the auction are required to make a deposit of more than VND 22.2 billion.
The collateral for this debt includes 18 real estate properties located in Phuc Yen City, Vinh Phuc Province, owned by different individuals. These properties include:
- 3 land-use rights with a total area of 1,290.5 square meters in Phuc Yen City, owned by Mr. Vu Manh Cuong and Mrs. Phan Thi Hong Thanh, residing at 80 Nguyen Khuyen, Dong Da, Hanoi.
- 5 land-use rights with a total area of 1,837 square meters in Phuc Yen City, owned by Mr. Do Van Ha and Mrs. Nguyen Thi Huong Giang, residing in Cao Thanh, Ung Hoa, Hanoi.
- 5 land-use rights with a total area of 1,880 square meters in Phuc Yen City, owned by Mrs. Pham Thi Tram, residing in Quynh Phu, Thai Binh.
- 5 land-use rights with a total area of 2,093.5 square meters in Phuc Yen City, owned by Mrs. Nguyen Thu Hang, residing in Khuong Dinh, Thanh Xuan, Hanoi.
These collateral assets have been appraised at a total value of VND 212.868 billion by a valuation company. Agribank took possession of these real estate properties on October 28, 2022.
Currently, the debt of Cuom Viet Co., Ltd. has been classified as non-performing due to the borrower’s violation of repayment obligations.
Cuom Viet Co., Ltd. was established in 2016, with its head office located at 51 Cau Xay, Tan Phu, Thu Duc, Ho Chi Minh City, under the directorship of Ms. Dang Thi Quynh. The company specializes in large-scale beading and embossing on garments, shoes, bags, and other accessories.
Tuân Nguyễn
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