Sacombank’s Thousand Billion Debt Unpaid Due to Borrowing 5,800 Ounces of Gold at 17.7 Million/Ounce, a Company Still Invests 15 Billion VND in Stock on the Market

The Saigon Seafood Business Company (APT) recently purchased 1.5 million shares of the Thuy Loi Construction Corporation (TL4), increasing its ownership ratio to nearly 15%. Despite facing a huge debt of 491 billion VND at Sacombank, along with 989 billion VND in interest, the company invested 15 billion VND in stocks. APT’s financial situation is critical, with cumulative losses reaching 1,556 billion VND and total assets at just 176 billion VND, resulting in negative equity exceeding 1,466 billion VND. The management of APT under major shareholders like Satra and Somo raises concerns, especially after six consecutive years of large losses. Auditors have expressed doubts about the company’s ability to continue operations, while APT shares currently trade at 2,400 VND/share.