BIDV to select debt auction organization

Publish date
06/05/2021

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The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) hereby announces the plan to select a debt auction organization, with detailed information as follows:

1.  Information about debt owner:

- Name: Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV)

- Address: 35 Hang Voi Street, Hoan Kiem District, Hanoi.

2. Debt information:

- Debtor: Mai Dong Joint Stock Company - No. 310 Minh Khai Street, Minh Khai Ward, Hai Ba Trung District, Hanoi.

* Debt amount (Temporarily estimated as of December 31, 2020):

- Principal: 47,176,853,104 VND (37,679,782,834 VND and 409,533 USD)

- Interest: 55,066,817,314 VND (46,986,336,430 VND and 348,447.78 USD)

* Collateral:

+ Winding machine for production of glass plastic pipes DN200.3000x12.000, FRP and RMP duly owned by the Company.

+ Land use rights with a total area of 36,163.76 m2 in Mai Lam commune, Dong Anh district, Hanoi city and assets attached to the land including: Plant, operation house of Mechanical Plant No. 1, 2-floor office building, frame house, casting workshop, cafeteria, security house, yard, garage, dormitory for workers, kiosks, etc. The line of machinery and equipment includes: lathes, loading machines , crushers, mixers, conveyors, DCPK, saws, cranes, ..., the line enhancing casting capacity with lost foam casting technology.

+ Land use rights and land-attached assets owned by Mr. Nguyen Viet Ha under Certificate No.: BC 208870 issued by the People's Committee of Ba Dinh District, Hanoi on December 28, 2010 with area of 52,4m2. Form of use: Private 2,3m2, Share: 50,1m2. Purpose of use: Urban residential land. The land-attached asset is the first floor as a part of the 2-floor house. Collateral address: No. 10 Cua Bac Street, Truc Bach Ward, Ba Dinh District, Hanoi City.

+ Assets are Inventories and receivables of Mai Dong Joint Stock Company.

+ Future revenue of Mai Dong Joint Stock Company formed from business cooperation in investment and construction of “South Hanoi Complex of Apartments and public Services in Thanh Liet commune, Thanh Tri district, Hanoi” project with Thanh Cong Group Joint Stock Company.

+ Future revenue of Mai Dong Joint Stock Company formed from business cooperation in investment and construction of “Complex of offices, public services, apartments and schools at 310 Minh Khai - Hai Ba Trung - Hanoi” project with Vinaconex 3.

+ Future revenue of Mai Dong Joint Stock Company formed from business cooperation in investment and construction of “Housing development project in Hoang Liet commune - Thanh Tri - Hanoi” with Hanoi Civil Construction Investment Joint Stock Company.

3. Selection criteria:

Auction organizations must meet the criterion specified by Clause 4, Article 56 of the Law on Asset Auction and the other following criteria:

- Having property auction function.

- Having a minimum operating time of 03 years.

- Having at least 03 auctioneers.

- Having at least 03 branches/ representative offfices.

- Other criteria as required by BIDV.

4. Expected reserve price: All principal, interest and fees (if any) at the time of signing the debt auction contract (Provisional value as of December 31, 2020 is: VND 102,243,670,418, USD/VND exchange rate is 23,190).

5. Deadline for application submission: The deadline for application is within 07 days from the date of notification (documents sent by post office is from the date on the postmark, provided that BIDV - Dong Hanoi shall receive documents within 09 days from the date of notification)

6. Application includes:

- Corporate legal documents; company capacity and experience profile, and auction plan;

- Price quotation letters and other commitments of the auction organization (if any)

7. Place of submission:

- BIDV Debt Settlement Center (Address: 19th Floor, Tower A Vincom, 191 Ba Trieu, Hanoi).

- Mr. Hoang Xuan Tuan (Email: tuanhx@bidv.com.vn; Mobile phone: 0934657796).

* Notes:

- Application documents are automatically invalid in case the auction organization is not permitted to conduct an auction in accordance with the laws.

- BIDV shall send a written notice of the result to the selected auction organization, those not received such notice are deemed as not selected. BIDV will not return the documents to the unselected organizations.

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