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Debt trading
Vimax Asia conducts debt trading according to agreements with buying and selling parties on equality and mutual benefit. Debt trading under agreement can be done through direct agreement, broker agreement or auction.
Debts purchased and sold are those of credit institutions that are currently outstanding or are being monitored off-balance sheet and of credit institutions responsible for debt trading.
Currently, Vimax Asia carries out debt trading by purchasing or finding partners, providing consulting support, acting as focal points, intermediaries, brokers, introducing partners to buy and sell debts at suitable prices and flexible payment methods.
Debt trading associated with restructuring debtor enterprises means that Vimax Asia buys back most of the debt from creditors; Then, as the main creditor, Vimax Asia takes appropriate measures to help the debtors restructure to thoroughly handle difficulties, stabilize and develop production and business activities more and more efficient, thereby having sources for debt repayment. The restructuring activities of debtors implemented by Vimax Asia have following main characteristics: In terms of subjects, the debtors that are restructured by Vimax Asia are usually those with many difficulties in production and business activities, facing risk of bankruptcy.
Regarding selection of criteria, there are three criteria that are often used by Vimax Asia for the debtors’ restructuring, which are: (1) debtors are assessed as having growth potential and can develop effectively if they are supported to deal with temporary difficulties they are facing. (2) Debtors and related parties (such as other creditors, owners) are willing to cooperate with Vimax Asia in applying appropriate measures to handle difficulties in order for businesses to continue to exist and develop more effectively. (3) Possible positive impacts on society arising from restructuring of debtors, such as contributing to promoting the process of restructuring and changing ownership; creating jobs for a large part of workers, making important contribution to political and social stability in a region.
In terms of implementation, restructuring debtors is a complicated process with a lot of related work including financial restructuring, organizational restructuring and production and business restructuring, restructuring the management and administration system, etc. Depending on characteristics of each debtor, workload for restructuring is also different. Specifically:
+ Financial restructuring is the first and very necessary activity when restructuring debtors. In order to carry out financial restructuring for enterprises, Vimax Asia has taken measures such as: Reducing parts of debt repayment obligations for debtors, converting debts into contributed capital, adjusting debt repayment plan, determining necessary working capital size and help mobilize more capital from issuance of shares, or help open credit relationship between debtors and credit institutions.
+ Restructuring organization and administration: To implement this criteria, Vimax Asia has implemented many activities to help businesses in re-arranging organizational structure and personnel, selecting right teams, qualified leadership. We also coordinate and help build and complete new system of internal processes and regulations, in a more positive direction, while ensuring publicity, transparency, ease of control and improving the autonomy of the company, initiative, creativity and sense of responsibility of employees.
+ Restructuring production and business activities: Vimax Asia has coordinated, facilitated and helped to plan business strategies, develop new business plans suitable to their capabilities and maximize their potential availability. The company has also implemented many activities to help businesses maintain and develop raw material areas or expand markets and customers by finding more partners and big customers.
+ Implement other support activities: such as finding strategic investors to participate in capital investment, providing technical and management support to help debtors carry out restructuring activities effectively; Helping businesses to restructure and create linkages with each other to support and help each other to use capital more efficiently, reduce costs, expand scale of operations to take advantages. In addition, Vimax Asia also actively acts as a contact point to work with competent authority to solve problems about mechanisms and policies, especially tax mechanisms and policies, Financial policies.
Together with Debt Trading Companies and Commercial Banks, we have successfully purchased and sold a number of debts of commercial banks, this is premise for Vimax Asia to continue to expand and develop debt trading business.