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Banks fear new law may hinder debt collection
Commercial banks said the 2015 Civil Code, to take effect on January 1, 2017, stipulates that if asset holders refuse to hand over their assets, which act as collateral for loans, banks will only have the right to sue for assets.
Where has SCIC invested the state’s money?
VietNamNet Bridge - The State Capital Investment Corporation (SCIC), a powerful conglomerate which is often compared with Singapore’s Temasek and Malaysia’s Khazanah, is bogged down with many investment projects.
Secondary debt trading market not open yet for foreign investors
VietNamNet Bridge - The government has allowed the Vietnam Asset Management Company (VAMC) to buy bad debts with market prices in the primary market. However, the doors remain closed to the cash flow to the secondary market.
Banks cannot sell debts because DATC doesn’t accept market prices
VietNamNet Bridge - The banks’ debt sale has been going very slowly because a powerful buyer, the Debts & Assets Trading Corporation (DATC), wants to buy debts cheaply.
DATC to buy $94m Vinalines debt
The Debt and Asset Trading Corporation (DATC) is negotiating with some banks to buy nearly VND2 trillion (US$94 million) of debt owned by the Viet Nam National Shipping Lines (Vinalines).
Vinalines’ US$19-million debt sold
VietNamNet Bridge – Vietcombank has become the first credit institution in the country to sell a US$19-million debt of Vietnam National Shipping Lines, or Vinalines, to Vietnam Debt and Asset Trading Corporation.
Fresh policies come into force in February
VietNamNet Bridge – A series of policies on agricultural insurance, debt management, anti-corruption, and SOEs equitization will come into force in February.
Team effort to aid troubled Vinashin
VietNamNet Bridge – The State Capital Investment Corporation (SCIC) and Debt and Asset Trading Corporation (DATC) will join hands to help restructure Viet Nam Shipbuilding Industry Group (Vinashin).
