Novaland pays interest on a 256 billion debt to Go An Cuong with 13 shophouses valued at about 150-200 billion VND

Go An Cuong Co., Ltd. (ACG) has approved a revenue plan of 4,050 billion VND and a profit of 450 billion VND at the 2025 annual general meeting. The company is optimistic about exports to the US, which contribute 12% of its total revenue. Notably, An Cuong has agreed to receive 13 shophouses from Novaland (a subsidiary of Novareal) to pay 133 billion VND in interest, with the principal to be repaid over the next 2-3 years. An Cuong’s chairman reported that bad debts have mostly been resolved. Additionally, An Cuong has sold 5% of its shares in Thang Loi Homes, expected to yield 37 billion VND, and is investing in the Binh An Duc Hoa project with 6,000 apartments, potentially earning 750 billion VND for An Cuong. The company’s next focus is on the wood industry with a sustainable development strategy.