Thailand’s Central Retail exits Vietnam electronics market after Nguyen Kim sale

Thai retail giant to take $188.7m hit after sale

Central Retail Corporation Public Company Limited (CRC) has sold its entire stake in Nguyen Kim (NKT) to local retailer Pico Holdings, an electronics retailer in Vietnam, for a reported $36m.

The sale includes all direct and indirect holdings in NKT, which operates electronics stores under the Nguyen Kim brand.

CRC will record a one-time, non-cash impairment of approximately $188.70m (THB 5.9b) in the fourth quarter of 2025. The company said this will not affect its operations, assets, financial condition, or dividend payments.

The divestment is part of CRC’s strategy to optimize its business portfolio in Vietnam, allowing the company to focus on its Food and Property businesses, improve operational efficiency, and accelerate expansion in its core sectors.

The transaction will be completed once regulatory approvals and conditions are met, including clearance from government authorities and business partners