TTC AgriS Chairman works for the benefit of 91% of SBT shareholders and stakeholders

In the context that Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS) (HOSE: SBT) is attracting the participation of international investors and many large financial institutions, Ms. Dang Huynh Uc My, Chairwoman of the Board of Directors of the company, affirmed that she will ensure fairness and transparency for shareholders, investors and related parties.

“The conduct of the Board of Directors must be fair and transparent ”

In the 2023-2024 fiscal year, TTC AgriS achieved a record revenue of over VND 29,000 billion, the highest among Vietnamese agricultural companies. Next, at the end of the first quarter of the 2024-2025 fiscal year, business results continued to grow well. Sugar output is expected to reach 344,000 tons, an increase of 31,400 tons compared to the previous year, of which exports increased by 40,000 tons and MNC increased by 14,000 tons. Total revenue increased by VND 474 billion, equivalent to 7%, profit is expected to reach VND 260 billion, an increase of 3% over the same period and reaching nearly 30% of the annual plan. Gross profit margin is forecast to reach 12.38%, an increase of 1.43% over the same period. In particular, FBMC revenue reached VND 132 billion, an impressive growth of 3 times over the same period.

Many international organizations continuously approach TTC AgriS to discuss investment and development cooperation, such as Singapore Economic Development Board EDB, UOB Bank, SACE financial group, ING Bank, IFC and many other international investors.

Ms. Dang Huynh Uc My met and discussed with the Singapore Economic Development Board (EDB)

There are currently 5 foreign funds holding 22.62% of TTC AgriS. Specifically, Legendary Venture Fund has just doubled its ownership, Brilliant Solution Inc., VanEck Vietnam ETF, Phillip Securities (Thailand), Legal & General ICAV (Ireland), and hundreds of investors. Initially, foreign funds only held 6%, but this number has gradually increased to 22.62% now. TTC AgriS said it is in the process of negotiating to allow this group to increase its ownership to over 35%. This capital will mainly be invested in the company's sustainable agricultural infrastructure.

These figures show that TTC AgriS is highly appreciated by international investors for its agricultural economic model, strategic orientation and implementation results.

Ensure fairness and transparency for shareholders , investors and stakeholders

A series of positive events took place in the three months since Ms. Dang Huynh Uc My took the “hot seat” as Chairwoman of the Board of Directors, who has just received the title of “Outstanding Asian Entrepreneur” for the third consecutive time from the Asia Pacific Enterprise Awards (APEA).

TTC AgriS Chairman Dang Huynh Uc My was honored as "Outstanding Asian Entrepreneur"

Ms. My said, “Many international investors and leading financial institutions in the country and the world have participated in TTC AgriS. Therefore, I have to focus more resolutely, with less compromise, by thoroughly implementing international standards in modern corporate governance, avoiding abuse of the position of major shareholders, if any, in transactions with related parties. To ensure that all actions of the board of directors must be fair and transparent towards shareholders, investors, farmers, employees, financial institutions and partners.”

Currently, TTC AgriS is in the top 10 best corporate governance companies - Large-cap group, and Top 5 Board of Directors in the Corporate Governance Forum from 2023. The company has applied advanced international standards such as IIRC Integrated Report, ASEAN Corporate Governance Scorecard, OECD Corporate Governance Code, GRI Global Sustainability Reporting Standards, ... this is the basic foundation for the company to ensure fairness and transparency.

“However, I also need to clarify my personal views in decisions that affect the voting ratio. I only have 9% personal interests, but with the trust, together with the nominated members of the Board of Directors, I will work for the interests of the remaining 91% of shareholders and stakeholders, of course the highest decision will still belong to the general meeting of shareholders. Therefore, I will focus more on objectivity and transparency in governance activities, so that TTC AgriS can approach the highest standards in the world, because this is the key point to increase the trust of shareholders and the market”, the Chairman of TTC AgriS declared.

Independent Board Member : A Factor in Maintaining Objectivity and Transparency

To achieve this in modern corporate governance, the presence of independent board members is essential. The organizational structure and the quality of the members are key to the independent and objective operation of the board, ensuring efficiency, minimizing the risks of family-style management, ensuring that decisions are based on fairness for all shareholders and stakeholders.

Ms. My said: “The company will invite more competent, experienced and ethical experts who have been independent members of leading enterprises in terms of efficiency and reputation in the market to join the Board of Directors. Depending on their professional strengths, these members will be assigned to key committees such as the Strategy Committee, Audit Committee, Personnel Committee, Sustainable Development Committee, etc. to advise and vote on the decisions of the Board of Directors. All must aim at international standards and best practices in the market.”

TTC AgriS has 2 legal representatives, held by the Chairman of the Board of Directors and the General Director. With clear delegation of authority and responsibility, this balance helps the decision-making process of the enterprise to have diverse perspectives, be carefully considered, ensure transparency, thereby improving the accuracy of strategic decisions, minimizing risks, increasing the speed of implementation and effectiveness of strategic actions for the company.

Source: https://baodautu.vn/chu-tich-ttc-agris-lam-viec-vi-loi-ich-cho-91-co-dong-sbt-va-cac-ben-lien-quan-d227611.html