In the 10th time selling debt related to fashion owner NEM, BIDV has stopped discounting this debt. This is a move that shows that the bank is determined to collect enough principal debt from customers.
Accordingly, BIDV has just announced the 10th time to sell the assets of Archplus Architecture and Construction JSC for the 10th time. This is a debt related to Mr. Truong Viet Binh, known as the founder of the fashion brand NEM.
BIDV's announcement said that as of April 15, 2021, the debt of Archplus Architecture and Construction Joint Stock Company was worth more than VND 498 billion, of which principal was 257 billion, interest was 174 billion. and overdue fines of more than 67 billion VND.
The collateral for this debt is the land use right and assets attached to the land to be formed in the future with an area of 1,431.3m2 at 545 Nguyen Van Cu street, Gia Thuy ward, Long Bien district, Hanoi city.
In addition, the debt is also guaranteed for 3 million shares of Mr. Truong Viet Binh at NEM Fashion Joint Stock Company, payment guarantee of NEM Fashion Joint Stock Company.
In the 10th time this debt is offered for sale, BIDV offers a starting price of VND 257 billion, equal to the principal balance and the starting price offered in the 9th auction announcement (mid-October 2021).
This is a move that shows that BIDV is determined to collect enough principal debt of customers. Previously, for each unsuccessful sale, BIDV would reduce the price by about 10%. After 9 attempts to sell, the bank reduced the price by about half the value of the debt.
Another bad debt being sold by BIDV is the debt of Viet Nga Steel Co., Ltd.
According to BIDV, the total outstanding balance of Viet Nga Steel Co., Ltd as of July 2, 2021 is more than 475 billion dong, of which the principal balance is nearly 267 billion dong, the balance of interest and late payment fees is more than 208 billion dong. The company's collateral is a series of real estate and factories in Ho Chi Minh City and Long An.
In the 8th time to sell debts of Viet Nga Steel Co., Ltd., BIDV reduced the starting price to only nearly 269 billion dong, equivalent to just over 2 billion dong of the enterprise's original loan balance and the bank reduced the entire price. outstanding balance of interest and late payment penalty compared to the first sale.
