Mar 25, 2012

Vietnam - Debt of Bianfishco estimated at 1.560tr dong


Can Tho City municipal People’s Committee on March 22 has announced that the debt of Binh An Seafood Joint Stock Company (Bianfishco) to date is estimated at 1.560 trillion dong.

Compared with the report on March 19, the debt of Bianfishco jumped from 1.299 trillion dong to 1.560 trillion dong due to more and more new creditors showed up.

In a recent talk with farmers on March 22, Mr Tran Van Tri Tri—Temporary General Director of Bianfishco committed repayment time and explained that he has not been a representative of the company’s board of directors. He just owns 2% stake in the processor.

His wife, Pham Thi Dieu Hien—owner of 50% of Bianfishco, is under the medical treatment in USA and doing procedures to mandate whole shares to Mr Tri, he said.

When the procedures are done, he will have right to call for a shareholders meeting to re-vote a board of directors, approve financial structure, debt repayment plan and other matters.

VietBiz24



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