SMC Investment and Trading Joint Stock Company (Stock Code: SMC, HoSE) has announced a resolution by its Board of Directors approving the transfer of certain assets from its subsidiaries.
Accordingly, SMC Investment and Trading plans to transfer land lease rights, ownership of housing, and assets attached to the land at SMC Steel Mechanical Engineering LLC – Phu My 1 Industrial Park, Phu My Town, Ba Ria – Vung Tau Province (now Phu My Ward, Ho Chi Minh City).
Specifically, the industrial land covers an area of 53,880.5 m². The land is leased annually from the infrastructure investment enterprise of the industrial park, with a usage period until September 12, 2048.
Additionally, SMC Investment and Trading has approved the transfer of machinery and equipment owned by SMC Steel Mechanical Engineering LLC and SMC Steel LLC.
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The Board of Directors of SMC Investment and Trading has agreed on a transfer value of VND 315 billion for the land lease rights and the aforementioned assets, inclusive of VAT as per legal regulations.
Alongside the asset sale plan, SMC Investment and Trading has also decided to terminate the investment project of SMC Steel Mechanical Engineering LLC at Phu My 1 Industrial Park and the expansion project of the steel product manufacturing and processing plant of SMC Steel LLC at the same location.
It is noted that both SMC Steel Mechanical Engineering LLC and SMC Steel LLC are wholly-owned subsidiaries of SMC Investment and Trading, with a 100% interest and voting rights as of September 30, 2025.
In other developments, SMC Investment and Trading will finalize its shareholder list on December 16, 2025, to seek written opinions from shareholders for the year 2025. The process will run from December 17 to December 31, 2025.
The agenda includes the removal of two Board of Directors members, Mr. Fujitsuka Masahiko (Japanese nationality) and Mr. Nguyen Huu Kinh Luan, as well as the independent Board of Directors member, Mr. Vu Anh Nguyen, and one member of the Supervisory Board, Mr. Nguyen Quang Trung.
The company will also seek shareholder approval for amendments to its Charter of Organization and Operation, as proposed by the Board of Directors, regarding the legal representative being the Chairman of the Board of Directors and the General Director. Other provisions of the company’s Charter remain unchanged.
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