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Update news Tan Hoang Minh
All four investors who won the bid at Thu Thiem auction in HCM City have ‘quit the game’, accepting their loss of deposit money.
The State Bank of Vietnam (SBV) has submitted to National Assembly’s deputies a report on issues raised at the third session of the 15th National Assembly, noting risks in real estate, securities and corporate bond lending.
After the cancelation of nine corporate bond issuances of three companies related to Tan Hoang Minh, the volume of private offerings fell sharply by 33 percent to VND30 trillion in April.
The case of Tan Hoang Minh has caused many investors to shrink back for fear of the collapse of the corporate bond market.
The Prime Minister on April 11 sent an urgent telegram directing ministries and branches to take measures to stabilize the stock market and corporate bond market.
Commercial banks do not grant credit to four real estate businesses that won the auction of land use rights in the new urban area.
VietNamNet Bridge - Many auctions failed recently because the bidders gave up after winning the right to buy assets. Experts said the current laws need to be amended.