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Gemadept has completed its full exit from CTCP Liên hợp Thực phẩm (FCC), a company listed on UPCoM (FCC). The negotiated transaction brings Gemadept a cash inflow of nearly VND 51 billion, as FCC prepares to terminate its public-company status.
On 10 April 2026, Gemadept sold nearly 1.6 million FCC shares (UPCoM: FCC) through a negotiated sale. The transaction reduced Gemadept’s ownership from 26.56% to 0%.
All shares were transferred on 10 April to two individual investors, who became FCC’s large shareholders:
FCC traces its origins to 1971, with its predecessor the Nha may Lien hop Thuc pham. After privatization, the company expanded into confectionery, beer, and mineral water. More recently, FCC has focused on trading and leasing land in Hanoi for warehousing and storefronts.
FCC’s 2025 annual report indicates that the company has ceased traditional beer production. Revenue in 2025 therefore came mainly from leasing space for stalls and warehouses.
FCC has faced operational and market challenges. The Hanoi Stock Exchange restricted FCC trading from March 2023, and the stock has only been allowed to trade on Fridays since the company suspended its core business for more than a year.
With reduced scale, FCC reported 2025 net revenue of about VND 9 billion and net profit of VND 808 million. These results were not sufficient to cover cumulative losses of more than VND 56 billion carried from 2024.
FCC’s leadership cited the company’s small scale, weak professional staffing, and limited stock-market expertise.
In response to regulatory requirements, shareholders approved a resolution at the end of 2025 to cancel FCC’s public-company status. The decision was linked to the company not meeting the relevant regulatory conditions.
Earlier, another major shareholder, Bong Sen Vang, pursued divestment. However, the process encountered difficulties. Bong Sen Vang was FCC’s largest and oldest shareholder, with historical ties that include a 2009 loan of nearly VND 19 billion secured by FCC shares, repeatedly noted by auditors.
In early 2026, Bong Sen Vang registered to sell more than 2 million FCC shares (34.99% of charter capital). The sale period ran from 20 January to 13 February, but it failed to complete as expected: only about 1,000 shares were sold due to the market price not meeting expectations and FCC’s liquidity issues. Afterward, Bong Sen Vang wrote off the investment.
FCC’s stated future strategy focuses on finding partners to develop two land plots in Ha Dong and Chuong My.
(By Thanh Truc)
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