GKM Holdings to sell assets to settle debt

GKM Holdings announced on November 21, 2025, that its Board of Directors unanimously approved the proactive sale of all secured assets. These assets include a 50-year land lease at Chau Son Industrial Park, factory buildings, production lines, and machinery. This decision aligns with a Ninh Binh Provincial People's Court decision from September 3, 2025, to repay debt. The sale price is expected to be no less than 100% of the independent valuation, estimated at around VND 100 billion.

The company prioritizes direct sales to strategic investors or debt-for-asset swaps with VP Bank and Khang Minh Group (represented by Khang Minh Brick JSC). A lease-back arrangement may be included to allow GKM Holdings to continue operations. The general director, Nguyen Anh Tuan, has been authorized to oversee the valuation process by November 30, 2025, negotiate with potential buyers, and complete the transactions by December 31, 2025.

The board also approved the use of the company seal, bank accounts, and other necessary resources to implement this plan. The Board Secretary will disseminate the resolution to relevant state agencies, VP Bank, Khang Minh Group, and the Civil Enforcement Department of Ninh Binh province, and publicly disclose the information as required by law.