Indochine Import Export Investment Industrial Joint Stock Company forced to sell assets for debt
Indochine Import Export Investment Industrial Joint Stock Company was compelled to dispose of collateral assets. This action aimed to fulfill financial obligations to bondholders. The company owed over VND 79 billion in unpaid bond interest, in addition to VND 300 billion in principal debt. Bondholders voted to approve the asset sale. The company reported net losses in both 2023 and 2024, at VND 206 billion and VND 63 billion respectively. Additionally, the company improperly ceased depreciation for some assets, which was deemed non-compliant with accounting standards.
Indochine Import Export Investment Industrial Joint Stock Company was compelled to dispose of collateral assets. This action aimed to fulfill financial obligations to bondholders. The company owed over VND 79 billion in unpaid bond interest, in addition to VND 300 billion in principal debt. Bondholders voted to approve the asset sale. The company reported net losses in both 2023 and 2024, at VND 206 billion and VND 63 billion respectively. Additionally, the company improperly ceased depreciation for some assets, which was deemed non-compliant with accounting standards.
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