A Real Estate and Energy Tycoon Faces a Loss of Over 8,000 Billion: Who is Lending Nearly 12,000 Billion?

Bamboo Capital Group (BCG) forecasts a consolidated loss of about 8,400 billion VND by the end of 2023, mainly due to provisions set after legal incidents involving former leaders. BCG is undergoing a restructuring to alleviate debt pressure, with total receivables of 25,700 billion VND, accounting for over 55% of total assets. This includes significant receivables from companies within the BCG ecosystem and individuals. BCG also reports 11,580 billion VND in financial debt, with bonds making up about 37%, and VietinBank as the largest creditor. Total liabilities amount to over 25,129 billion VND, equivalent to 54% of its capital.