WHAT DOES THE REPRESENTATIVE OF PHUONG NAM LAND SAID ABOUT VIETINBANK’S DEBT SALE?

Talking to the press about VietinBank’s announcement of selling a debt of more than 2,600 billion related to Phuong Nam Land, Mr. Dinh Vinh Toan – Director of Phuong Nam Land affirmed that the total assets are very much guaranteed but due to the lack of a Pink Book. Although it has properly built the Construction Permit and completed the full completion according to Notice No. 131 / GD-GĐ1 signed on July 26, 2018 by the Ministry of Construction … so a large foreign corporation signed a wholesale lease The entire area is paid once, but not paid yet because of waiting for the Pink Book.

“Shareholders have fulfilled their obligation to contribute capital, so they do not want to contribute more, so VietinBank sells debt and the parent corporation will buy back this debt. Sometimes debt sale is also a good solution to restructure the Company. “, Mr. Toan confirmed.