[January 22nd] FLC yacht price plunges 27% in sixth auction

The starting price for the FLC Albatross yacht has been reduced by 27% to VND25.8 billion ($1.05 million) in its sixth auction attempt, as it has not found a buyer in over a year.

The auction will be conducted by BIDV, a state-owned lender, in Ho Chi Minh City on Jan. 19.

The yacht was previously owned by Trinh Van Quyet, the former chairman of FLC, who purchased it in 2018 for VND44 billion. Quyet was arrested in March 2022 for stock manipulation.

The FLC Albatross features four bedrooms and a bar and can accommodate 12 passengers.

Following Quyet’s arrest, banks have seized many assets belonging to him and FLC, including two Rolls-Royce cars which were eventually sold last year after several auction attempts.

Source: VN Express