3:26:25 PM | 7/8/2005
Debt and Assets Trading Company: More Business Opportunities
The Ministry of Finance has issued a decision by which 20 enterprises would have to handle their non-performing loans with the Debt and Assets Trading Company (DATC). The DATC has also received hundreds of requests from others (including commercial banks) asking the company to settle their bad debts. It is estimated that by the end of the year, DATC will buy enterprises' overdue debts and assets valued at VND 200 billions. DATC will also be involve d in handling the bad debts of commercial banks though these debts are very complicated and thus require time-consuming efforts.
According to the DATC, enterprises' understanding of asset liquidation has significantly improved, and the mechanism for debt-buying activities has become full-fledged. The Government's policy to accelerate equitization offers a great opportunity for DATC's effective performance.
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