The Bank for Investment and Development of Vietnam (BIDV) recently announced the sale of non-performing loans from Ba Huan Joint Stock Company and Ba Huan Thanh Hoa High-Tech Company Limited.

As of 23/9, Ba Huan Company's outstanding debt with BIDV totaled nearly 495 billion VND, comprising approximately 462 billion VND in principal and over 32 billion VND in accrued interest.

The company secured this debt with various assets tied to its production and livestock operations, including two factories located in Tan Uyen and Binh Chanh, Ho Chi Minh City (TP HCM). The collateral also encompasses several land plots, chicken coops, ancillary structures, and machinery systems.

Additionally, the bank holds security over claims, accounts receivable, inventory (eggs, chickens, and feed), and Ba Huan's entire capital contribution in Ba Huan Thanh Hoa High-Tech Company Limited.

Some Ba Huan products previously sold on the market. *Photo: Ba Huan Fanpage*

Concurrently, BIDV is also auctioning two debt tranches from Ba Huan Thanh Hoa High-Tech Company Limited, totaling over 130 billion VND. This amount includes nearly 122 billion VND in principal and close to 9 billion VND in interest.

Collateral for this debt comprises a factory in Thanh Hoa commune, Tay Ninh, encompassing 9 land plots spanning over 244,000 square meters, a series of chicken coops, and supporting structures. Farm machinery, accounts receivable, and company inventory are also mortgaged to the bank. These assets simultaneously secure Ba Huan Company's obligations.

In total, BIDV is offering nearly 625 billion VND in debt from the two companies, with approximately 584 billion VND representing the principal amount.

Ba Huan is a long-established and well-known company that once held up to 30% of the domestic poultry egg production market share. Ms. Pham Thi Huan founded the brand in 1985, and its business operations became professionalized starting in 2001.

Late last year, the company faced enforcement actions, including a halt to customs procedures, due to an overdue tax debt exceeding 51 billion VND. Currently, Mr. Tran Viet Hung serves as both the legal representative and General Director of the company.

*By Quynh Trang*