The move involves the conversion of bonds into shares, signaling a strategic maneuver to shore up the company's financial standing and navigate turbulent market conditions.
Prominent Vietnamese real estate developer Novaland is grappling with a staggering debt of over VND57 trillion despite concerted efforts to restructure its financial liabilities.
In per-labour-force terms, consumer debt even jumped from 41 per cent of income in 2013 to more than 100 per cent in 2020, according to HSBC.
Apart from Tiki and UP Co-working Space, the Asia-focused venture debt provider is also working on a few more deals in Vietnam.
Fiscal policy easing or debt financing solutions for development investment are not appropriate in the context that Vietnam tries to control inflation and public debt reaching the ceiling of 65 per cent of GDP, according to international experts.
While most credit institutions have made possible attempts to reduce their bad debt ratio to a safe level at below three per cent, VPBank and Sacombank remain cautious to be fairly high at 4.07 per cent and 3.74 per cent respectively.
Sacombank's bad debt ratio was reduced to a little over three per cent, which is considered the safety limit, in less than two years.
As soon as becoming Vinatex’s strategic shareholder in 2014, VID Group used the majority of the shares held in Vinatex as collateral for its debt repayment obligations at Maritime Bank, of which the company is also a shareholder.
Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank will auction several land plots in Ho Chi Minh City and industrial land plots in Long An province through Global Auction Services JSC on this June 28.
Under pressure to pay a $7-million debt and an $812,115 interest, Phuong Nam Culture JSC or PNC has to sell more than half of its shares held in CJ CGV Vietnam Co., Ltd.
Fitch Ratings has upgraded Vietnam’s rating from "BB-" to "BB" proving the nation’s improvement on economic growth, foreign exchange reserves and government debt.
An unknown future holds for PG Bank after the collapse of the merger between VietinBank and PG Bank.
Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has sold collaterals for debt collection, but 90 per cent of this amount is deferred for seven years at an interest rate of 7.5 per cent per annum.
VPBank's profit in 2017 surpassed Agribank and was only lower than that of Vietcombank, Vietinbank and BIDV.
