VietinBank Sa Dec Branch (Dong Thap) said it is preparing to auction assets to recover debt for 5 land use rights used as petrol stations in the two provinces of Vinh Long and Dong Thap.

The total value of these plots of land, calculated at the starting price, is nearly 42 billion VND.

Specifically, the first asset has a starting price of 9 billion VND, which is the land use right in Dong Hoa 2 hamlet, Dong Thanh commune, Binh Minh district, Vinh Long province, area of ​​1,901.5m2, issued by the People's Committee of Binh Minh district, Vinh Long province on December 2, 2012, updated transfer to Mr. Trinh Thanh Hung on September 10, 2018.

The property attached to the land is a gas station with a construction area of ​​105.4 square meters built in 2011.

The second asset has a starting price of 7 billion VND, which is the land use right in Dong Thanh A hamlet, Dong Thanh commune, Binh Minh district, Vinh Long province.

The land has an area of ​​1,051m2 issued by the People's Committee of Binh Minh district, Vinh Long province on October 24, 2012, updated transfer to Mr. Trinh Thanh Hung on September 10, 2018.

The property attached to the land is a gas station built in 2012.

The third asset that VietinBank Sa Dec determined to have a starting price of 7.76 billion VND is the land use right for 998 square meters of land in Bo Lien 3 hamlet, Thuan Hung commune, My Tu district, Soc Trang province.

Assets attached to the land are gas stations including roofs, pumps, tanks, sales houses, etc.

The fourth asset was determined to have a starting price of 6.924 billion VND, a 707m2 land plot in Tan Qui A hamlet, Tan Hung commune, Long Phu district, Soc Trang province. The asset attached to the land is a gas station, including a roof, a pump, a shophouse, etc.

Information about the 5th property to be auctioned is the right to use 624.4 square meters of land in Phu Ninh hamlet, Song Phu commune, Tam Binh district, Vinh Long province, issued by the People's Committee of Tam Binh district, Vinh Long province on July 4, 2018, updated transfer to Mr. Trinh Thanh Hung on July 25, 2018.

The property attached to this land is a gas station, including pumps, tanks, sales houses,...

The starting price for this property is 11 billion VND.

The southwestern provinces, including Soc Trang and Vinh Long, were once the areas where the fake gasoline tycoon Trinh Suong monopolized most of the market share. Mr. Trinh Suong was sentenced to 11 years in prison by the High People’s Court in Ho Chi Minh City in the case of buying, selling and producing fake gasoline.

Mr. Trinh Suong also has a son named Trinh Thanh Hung, who is the Director of Ressol Petrochemical Trading Joint Stock Company - a company in Trinh Suong's ecosystem of companies.