BIDV sells debt of more than 100 billion VND of Saigon Water

Vietnam Joint Stock Commercial Bank for Investment and Development ( BIDV - HoSE: BID) recently announced the selection of an asset auction unit for the entire debt of Saigon - An Khe Water Joint Stock Company.

According to BIDV, the total provisional outstanding debt as of October 30, 2023 of this company is nearly 133.7 billion VND, including 100.8 billion VND of principal, interest and late payment penalty fees of 32.9 billion VND.

The collateral for the above debt is the entire factory and water supply system in An Khe town, Gia Lai province and surrounding areas. The starting price for the above debt is the entire principal, interest and fees (if any) at the time of signing the debt auction contract.

The deadline for direct application submission is 7 days from the date of notification (applications submitted by post are counted by postmark, provided that BIDV must receive them within 7 days from the date of notification).

The selection criteria set by BIDV are the necessary facilities and equipment to ensure the auction of the type of property to be auctioned; feasible and effective auction plan; capacity, experience and reputation of the property auction organization; appropriate auction service fees and property auction costs; and being on the list of property auction organizations announced by the Ministry of Justice.

Saigon-An Khe Water Joint Stock Company, with Mr. Diep Bao Vinh as legal representative, was granted a business registration certificate on June 9, 2016. The company's main business lines are water exploitation, treatment and supply.

The company is the investor of the Saigon - An Khe Water Plant, which was completed and put into operation in July 2018 with a total investment of over 160 billion VND. The plant has a designed capacity of 9,500 m3/day and night, supplying clean water to 9 communes and wards of An Khe town and 3 communes of Dak Po district. The plant's level 1, 2 and 3 pipeline system has a total length of over 200 km .

Source: https://www.nguoiduatin.vn/bidv-rao-ban-khoan-no-hon-100-ty-dong-cua-nuoc-sai-gon-an-khe-a654853.html