VietinBank Ha Giang Announces Sale of Collateral Assets of Trung Linh Phat Company Limited

Vietnam Joint Stock Commercial Bank for Industry and Trade, Ha Giang Branch (VietinBank Ha Giang) has announced the sale of collateral assets of Trung Linh Phat Company Limited, one of nearly 40 major petroleum hubs in the country.

Collateral Assets for Sale

The collateral for Trung Linh Phat’s loan includes 9 land use rights, house ownership rights, and assets attached to land in Hoa Binh and Ninh Binh provinces.

• 1 land use right, house ownership right, and property attached to land, with a land area of 1,814.9m2, and a single house (3 floors) construction area of 92.4m2 in Ba Cau hamlet, Ngoc Luong commune, Yen Thuy district, Hoa Binh province.
• 2 land use rights, house ownership right, and property attached to land, with the same area of 339.3m2, at land plot No. 696, map sheet No. 21 and land plot No. 692, map sheet No. 27 in Doai Thuong hamlet, Ninh Phuc commune, Ninh Binh city, Ninh Binh province.
• 5 land use rights, house ownership rights, and assets attached to land with areas of 523m2, 569m2, 588m2, 579m2, and 639m2 respectively in Ninh Khanh urban area, Ninh Khanh ward, Ninh Binh city, Ninh Binh province.
• 1 land use right, house ownership rights, and assets attached to land, with an area of 390m2 in Tay Ring Road urban area, Ninh Son ward, Ninh Binh city, Ninh Binh province.

Disposal of Assets

VietinBank Ha Giang stated that all the above assets were sold at the agreed price. The money collected from the disposal of the assets will be used to pay off the debt of Trung Linh Phat Company Limited at VietinBank Ha Giang.

Auction of Assets by Agribank Ninh Binh

The Bank for Agriculture and Rural Development, Ninh Binh Branch (Agribank Ninh Binh) is also auctioning off assets securing loans related to Trung Linh Phat.

Agribank Ninh Binh is selecting a unit to organize the auction of assets securing Trung Linh Phat’s debt, including 2 land use rights on National Highway 10, Yen Bang Commune, Y Yen District, Nam Dinh Province; land areas are 242.2m2 and 405.4m2, respectively.

The assets on land in one of the two plots of land mentioned above include a gas station with an area of about 48m2; staff housing with an area of about 72m2; a gas storage area with an area of about 40m3; a rest stop with an area of about 45m2; and a corrugated iron shed with an area of about 45m2.

The Bank will sell the above assets together at a starting price of VND 10 billion, excluding VAT, other taxes, fees, charges, and costs related to the transfer of ownership of the assets as prescribed by law.