Kinh Bac uses assets of its subsidiary to secure obligations for loan repayments to financial institutions

The Kinh Bac Real Estate Development Corporation (KBC) has passed a resolution to use assets of the Tràng Cát Urban Development One Member Limited Company to secure loan obligations at financial institutions. Tràng Cát, wholly owned by Kinh Bac, operates in real estate investment and construction. This is not the first time Kinh Bac has used subsidiary assets for repayment; previously, it secured loans with 10 million KBC shares and land use rights in the Tràng Duệ urban project. The KBC Board of Directors has authorized Đặng Thành Tâm to carry out related tasks.