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Banks asked to report loans for winners of Thu Thiem land auctions

The Saigon Times

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HCMC – The State Bank of Vietnam’s Banking Supervision Agency has asked banks to report their provision of credit to individuals and enterprises taking part in the auctions of four land lots in the Thu Thiem New Urban Area in HCMC’s Thu Duc City on December 10 last year.

Specifically, banks must report the information of their customers and loan contracts, the purposes of the provision of loans and loan amounts at the report time, the local media reported.

If the loans provided to these customers were used to participate in the auctions of land lots in the Thu Thiem New Urban Area, banks must submit all related documents.

Banks were also asked to submit information and documents to the Banking Supervision Agency before January 7.

Earlier, the HCMC Tax Department had issued an announcement on the land use entitlement cost and registration fee for winners of the auctions — Dream Republic Corporation, Sheen Mega JSC, Binh Minh Investment Development and Trading Co., Ltd and Viet Star Real Estate Investment Co., Ltd.

Accordingly, they were subject to a total land use entitlement cost of nearly VND37.4 trillion and a registration fee of VND1.5 billion.

The enterprises must complete the payment of the registration fee and half of the land use cost no more than 30 days since the announcement. The remaining land use cost will be submitted within 90 days of the announcement.

The auctions of four land lots in the Thu Thiem New Urban Area have caused multiple controversies. Auction winners’ mobilization of capital to pay the land use cost and registration fee for a short time has also attracted the public attention.

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