In a resolution announced on November 24, the Board of Directors of SMC approved the transfer of land plot No. 1032, map sheet No. 09, located in Phu My Ward, Thu Duc City, Ho Chi Minh City (formerly Phu My Town, Ba Ria – Vung Tau Province). The land spans an area of 53,880.5 square meters.
This industrial land has a usage term until September 12, 2048, and its origin is from an annual rental agreement with the infrastructure investment enterprise of the industrial zone.
Alongside the land transfer, SMC is also transferring machinery and equipment owned by SMC Steel Mechanics One-Member LLC and SMC Steel LLC. The total transfer value amounts to 315 billion VND.
The steel trading company has also terminated the investment projects of SMC Steel Mechanics One-Member LLC at Phu My 1 Industrial Zone and the expansion project of the post-steel product manufacturing and processing plant of SMC Steel LLC within the same industrial zone.
According to the 2024 annual report, both subsidiary companies whose operations SMC has terminated were operating at a loss in 2024.
SMC Steel LLC, with a chartered capital of 230 billion VND, supplies construction steel, sheet steel, and various coated steel products, recording a loss of 34.5 billion VND in 2024.
SMC Steel Mechanics One-Member LLC, with a chartered capital of 180 billion VND, primarily processes hot-rolled steel coils, presses, rust removal, and produces galvanized sheet steel with a capacity of 350,000 tons/year, incurring a loss of 62.8 billion VND in 2024.
– 11:28 26/11/2025
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