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DATC to evaluate debts worth less than $23,800

Nov 11th at 13:43
11-11-2014 13:43:40+07:00

DATC to evaluate debts worth less than $23,800

The Finance Ministry's Debt and Asset Trading Corporation (DATC) is authorised to evaluate enterprises' debts and assets which are less than VND500 million, or US$23,800, in book value.

This has been stated in a legal document guiding the resolution of debts and assets in the business reorganisation process, which is being managed by the ministry, the Dau tu (Vietnam Investment Review) has reported.

DATC will have to hire a company to evaluate debts and assets with book values of VND500 million or higher, before processing them.

The corporation was established in 2003 under a government decision, with a charter capital of VND2 trillion, or $95.24 million. DATC's equity was reportedly increased to nearly VND2.5 trillion, or $119.05 million, in 2011.

The company is responsible for fostering rationalisation and enhancing the efficiency of State-owned enterprises (SOEs), with specific missions such as improving the financial condition of SOEs, boosting stock market growth and directing the development of other debt-trading firms.

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