Vietnam Medicinal Materials to withdraw BIDV collateral for debt repayment

The Board of Directors of Vietnam Medicinal Materials Joint Stock Company issued Resolution No. 27/2025/NQ-HĐQT/DLVN on October 6, 2025. This resolution addresses the withdrawal of collateral.

The company has decided to withdraw time deposit contracts and savings accounts, owned by the company or a third party linked to the company, currently held at the Bank for Investment and Development of Vietnam (BIDV) – Hanoi Branch. These assets will be used to repay existing loans at the same BIDV branch.

Furthermore, the resolution authorizes Vu Thanh Trung, the company's general director, to act on behalf of Vietnam Medicinal Materials Joint Stock Company. His responsibilities include signing and providing all relevant documents and papers to complete the procedures for mortgaging assets to secure the company's obligations at the BIDV – Hanoi Branch. This resolution is effective from the date of signing until superseded by a new resolution.