Feb 13, 2012

Vietnam - Bad debts situation amongst enterprises alarming



Many companies in the real estate field have said that the payment between businesses and partners is now very difficult.

PetroVietnam Land Joint Stock Co (Petroland-PVL) has to delay 2011 dividend payment from February 10, 2012 to June 20, 2012 due to some debts of customers have not yet been transferred in the company's account as committed. Therefore, the company can not arrange capital sources for dividend payout.

Notably, enterprises in the areas of building materials and real estate who can not sell products are falling in very difficult situation, because they are the debtors, but at the same time they also are creditors of many other businesses.

VietBiz24



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