The bank is tired of waiting to sell the debt of the owner of the Rose Town apartment building

03/04/2022 07:13 GMT+7

Agribank has just announced the auction of the debt of the Import-Export Packaging and Production Joint Stock Company (Promexco) led by Mr. Nguyen Van Thuan (born 1958) as Chairman of the Board of Directors cum General Director and the representative of Agribank. legal.

This is the second time within a month the bank has offered this loan for sale. In this sale, the starting price has been reduced by 6.11 billion VND to 70.22 billion VND. The starting price does not include taxes, fees, charges and other financial obligations required by law when purchasing debt. The auction winner must bear all taxes, fees, charges and other financial obligations when purchasing debt in accordance with the law.

This debt is formed from the credit package granted to Promexco by Agribank West Hanoi branch under the credit contract signed on May 4, 2010. The total value of the debt as of the end of August 26, 2021 is VND 90,187 billion. In which, the principal balance is VND 46,928 billion, and interest debt as of August 26, 2021 is VND 43,259 billion. Notably, this is an unsecured loan.

Promexco used to be a state-owned enterprise under the Ministry of Trade. Business lines include: Producing, processing and processing high-class products from wood materials, Producing and processing packaging and other forest products, Import-Export, hotel business.

The Rose Town Apartment project invested by Promexco and Xuan Mai Corp in a joint venture is in the process of being completed.

Chairman and CEO Nguyen Van Thuan is currently the largest shareholder of the company with 37.25% of charter capital. Mr. Thuan’s wife, Mrs. Phung Thi Minh, holds 5.34% of the charter capital. In addition, Mr. Thuan is also Chairman of the Board of Directors of Aluone Aluminum Materials Production Joint Stock Company, Chairman of the Board of Directors of Prosmexco Real Estate Investment Joint Stock Company.

Prosmexco is a consortium of real estate project investors in the process of being completed, Rose Town Hanoi Apartment, number 79 Ngoc Hoi Street, Hoang Liet Ward, Hoang Mai District, Hanoi. This is a project with a total investment of up to 928 billion VND, including 5 towers (from DV1 to DV5) with 25 floors and villas, adjacent, with a total of 800 apartments and 48 adjacent villas. The project is invested by Promexco and Xuan Mai Corp. It is known that this is also a project where the investor consortium has mortgaged all of the income assets obtained from the project to BIDV Bank.

Before the last Lunar New Year, Promexco was repeatedly accused by contractors of not paying debts to the construction units of the Rown Town project, even though the project had been handing over houses to customers. Not only was there a controversy over contractor debt, during the construction of the Rose Town project, Promexco was repeatedly notified by the People’s Committee of Hoang Liet Ward and the Department of Urban Order Management of Hoang Mai District. public works and coercive documents because the investor intentionally violates the construction order. The culmination was on December 22, 2021, the People’s Committee of Hoang Liet ward issued Document No. 1173/TB-UBND announcing the organization of forced dismantling of works and parts of works that violate construction order.

Ngan Giang