Vietnam Joint Stock Commercial Bank for Industry and Trade - Thai Binh Branch (VietinBank Thai Binh) has just announced the selection of an auction organization to auction the debt of Phiet Hoc Transport Trading and Service Company Limited (Phiet Hoc bus company).

Phiet Hoc bus company's debt at VietinBank Thai Binh includes the entire principal balance, interest debt, and penalty interest. The total outstanding debt as of July 29, 2024 is more than 5.57 billion VND; of which the principal debt is more than 2.43 billion VND, the interest debt is more than 3.14 billion VND.

The assets securing Phiet Hoc's debt are 36 cars, including 16 Samco buses, 7 Hyundai 12-seat cars, 1 Samco 29-seat passenger car, and 12 Kia Morning 5-seat cars.

The starting price for the debt auction is more than VND 5,574 billion (equal to the total outstanding debt as of July 29).

Previously, in June 2024, VietinBank had put this bad debt up for sale but there were no buyers.

Phiet Hoc Transport Trading and Service Company Limited is one of the largest passenger transport enterprises in Thai Binh province, with a series of passenger vehicles under the Phiet Hoc brand specializing in the Hanoi - Thai Binh route.

The company is headquartered in Thai Binh, with Mr. Lai Van Thuan as director and legal representative.

Meanwhile, the Joint Stock Commercial Bank for Investment and Development of Vietnam - Thanh Do Branch (BIDV Thanh Do) has just announced the selection of an organization to auction the debt of Hang Ha Joint Stock Company.

The debt of Hang Ha Joint Stock Company is secured by future mortgaged assets, which are all assets formed from the Duc Giang International Maternity Hospital project of Hang Ha Joint Stock Company in Duc Giang ward, Long Bien district, Hanoi (including but not limited to land use rights and all assets attached to land, related machinery and equipment).

However, BIDV did not disclose details of the debt value or the starting price of the debt.

Hang Ha has a charter capital of 70 billion VND, established by the following shareholders: Cotec Health Care Investment Joint Stock Company contributes 51% of the charter capital; Cotec Real Estate Investment and Development Joint Stock Company (COTECLAND) contributes 44% of the charter capital; other investors contribute 5% of the charter capital.

Duc Giang International Maternity Hospital Project with a scale of 120 beds, examination capacity of 600 visits/day, serving 70 births/day. Shareholders agreed on professional management and medical personnel to cooperate with Hanoi Maternity Hospital.

This hospital has a sign "Hanoi Obstetrics and Gynecology Hospital - Duc Giang Facility".

Hang Ha Joint Stock Company is located at 52 Truong Lam Street, Duc Giang Ward, Long Bien District, Hanoi. This is also the address of Duc Giang International Maternity Hospital.

The company was established in 2004, with Mr. Tran Huu Hiep (born in 1979) as legal representative.

Mr. Hiep is also the legal representative at a series of other enterprises such as: Vi Nam Construction - Trade and Service Company Limited; Saigon - KL Real Estate JSC; Nghe An General Hospital Friendship JSC.

In addition, Mr. Hiep is also the legal representative at Danh Khoi Real Estate Development JSC and a series of real estate enterprises with the abbreviation "DK", such as: DKRT Real Estate - Trading JSC; DKRP Real Estate Development JSC; DKRE Real Estate Investment JSC; DKRE Real Estate JSC; DKRB Real Estate JSC; DKRT Real Estate - Trading JSC; and Danh Khoi Central Joint Stock Company.