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Vietcombank puts Vinaxuki factory up for sale for fourth time

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HCMC – The Thang Long branch of Vietcombank has sought to liquidate the Vinaxuki Thanh Hoa Factory, including the machines and equipment used for automobile production, owned by the Vinaxuki Thanh Hoa Company, making it the fourth time it is being sold to recover debts.

The starting price for the factory and assets attached to the land is VND36.3 billion, down from the VND44.2 billion set in April.

The machines and equipment comprise a 10-ton crane, a five-ton crane, two gas compressors, and air dryers, four hydraulic rolling machines, and some bulldozers and excavators among others.

The other branches of Vietcombank are also auctioning multiple mortgaged assets, including real estate and personal properties.

The Hai Duong branch of Vietcombank has announced the selling of assets attached to the land of Feromangan Chiem Hoa Factory in Tuyen Quang Province, which have been built and used since July 2008. The starting price is some VND199.7 billion.

The Chau Doc Vietcombank has also put up for auction a facility of NPV Trade- Production JSC in the Mekong Delta province of An Giang to recover bad debts at a starting price of VND37.9 billion.

Some fishing boats in Danang, Nghe An and Binh Dinh have been liquidated by Vietcombank, Nguoi Lao Dong Online reported.

Many other commercial banks have recently sped up the liquidation of mortgaged assets to recover debts, as the coronavirus pandemic has taken a heavy toll on multiple firms, with most of them having suspended their operations or left the local market.

Vietinbank has announced selling off mortgaged assets, including a Dong Nai-based factory and machines of Gnotech Company, while VPBank is planning to hold an auction for 62 automobiles to recover debt.

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