BBT: Overdue Liability

Pursuant to Official Document No. 237/2008/CV-CH dated July 29th, 2008, Vietnam Maritime Stock Bank informed of the overdue loan of Bach Tuyet Cotton Corporation as follows:

- Total liabilities on July 29th, 2008:  VND21,432,705,225

Including: overdue principal:  VND 6,398,409,524

- Interest payable in July 2008:  VND318,128,134

- Total debit balance of Bach Tuyet Cotton Corporation is overdue now. Vietnam Maritime Stock Bank had to apply the interest rate of 150% of normal rate.   

- Mortgage assets: value of the right of using 16,000-m2 land and factory in Vinh Loc Industrial Zone and assembly line of sanitary napkins and cotton pads.   

- Vietnam Maritime Stock Bank requested Bach Tuyet Cotton Corporation to settle the debt within 7 working days from July 29th, 2008. Otherwise, Vietnam Maritime Stock Bank will sue the corporation.

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