TTC AgriS sets date for holding 2023-2024 Annual General Meeting of Shareholders
On September 30, TTC AgriS announced information about the organization of the Annual General Meeting of Shareholders for the fiscal year 2023-2024, scheduled to be held on October 24, 2024 at the Company's Headquarters in Tay Ninh.
Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, HOSE: SBT) plans to hold the Annual General Meeting of Shareholders (AGM) for the fiscal year 2023-2024 on October 24, 2024, accordingly, TTC AgriS will submit to the AGMS for approval 9 proposals and 3 reports with the following contents: proposal to approve the Production and Business Plan and profit distribution plan, remuneration of the Board of Directors (BOD); registration, deposit and listing of bonds; plan to issue shares to pay dividends, elect additional members of the Board of Directors and report to the Board of Directors, business performance of the Executive Board, ... and some other contents.
Notably, TTC AgriS reported to the General Meeting of Shareholders positive business results for the fiscal year 2023-2024, continuing to exceed the plan with consolidated net revenue reaching VND 29,021 billion, up 17% over the same period, completing 141% of the plan.
Pre-tax profit reached VND908 billion, up 26% year-on-year and fulfilling 107% of the plan. After-tax profit reached VND806 billion, up 33% year-on-year. Output continued to exceed the 1 million ton mark.
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| Ms. Dang Huynh Uc My - Chairwoman of TTC AgriS Board of Directors introduced C-Cane Crush Energy Drink at the Grand Ceremony to celebrate the 55th anniversary of the establishment and development of the TTC AgriS brand. |
TTC AgriS submitted to the General Meeting of Shareholders for approval a plan to pay dividends in shares at a rate of 10%, of which 4% for the 2022-2023 fiscal year and 6% for the 2023-2024 fiscal year, equivalent to ~740 billion VND, thereby continuing to fulfill its dividend obligations to shareholders regularly every year since listing in 2008.
During the period of escalating geopolitical conflicts, the world economy has many fluctuations, along with the impact of climate change, creating many challenges and competition for the sugar industry in the 2024-2025 fiscal year. To ensure sustainable and stable development, TTC AgriS strengthens cost control and ensures business efficiency, aiming to continue to maintain market share in established business segments with total revenue in the 2024-2025 fiscal year expected to reach VND 26,168 billion, pre-tax profit expected to be VND 900 billion.
Accordingly, focus on expanding the FBMC product line through research and launching new product lines. In particular, promote M&A activities of promising beverage businesses, participate extensively and anticipate global F&B trends.
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| Mr. Justin McGowan – General Director of Queensland Trade and Investment (bottom row, left), Ms. Dang Huynh Uc My – Chairman of TTC AgriS (bottom row, right), Ms. Doan Vu Uyen Duyen – General Director of GMAA (top row, left) and Ms. Kym Cooper – Founder of East Forged (top row, right) at the signing ceremony held at the Queensland Trade and Investment Office, Australia |
Promote R&D activities, continuously launch beverage products, and anticipate F&B market trends
In the 2023-2024 fiscal year, TTC AgriS has stepped up research and launched new beverage products such as bottled Xim coconut water - a refreshing drink containing electrolytes Sodium and Potassium to help replenish minerals and water. In particular, at the 55th Anniversary Ceremony of the establishment and development of the TTC AgriS brand on August 8, 2024, the Company officially launched the energy drink C-Cane Crush - a creative drink combining natural sugarcane juice with precious herbal extracts from ginseng, cordyceps and B vitamins, providing more energy for the body.
In September 2024, TTC AgriS invested 1.5 million USD in East Forged - an Australian cold brew nitro tea production company through its subsidiary - Global Mind Australia (GMA). Through mergers and acquisitions (M&A) with promising beverage companies, TTC AgriS is accelerating its strategy of deeply participating in the global F&B market, especially in the field of processing natural foods of TTC AgriS.
Taking advantage of its advantages, TTC AgriS promotes internal strength, strengthens international cooperation and adheres to a sustainable development strategy.
TTC AgriS currently owns the advantage of raw material areas of more than 71,000 hectares in 4 countries: Vietnam, Laos, Cambodia and Australia, with the goal of expanding the total global raw material area to 90,000 hectares by 2030. Along with a diverse product portfolio and widespread distribution channels, in the 2023-2024 fiscal year, TTC AgriS's export market has increased from 50+ to 69 countries worldwide, equivalent to an increase of nearly 40% over the same period.
The Company actively expands cooperation with Government, non-Government organizations and Financial Institutions in implementing green credit products, sustainable agricultural practices, aiming to harmonize and maximize the benefits of all stakeholders. Recently, the Board of Directors of TTC AgriS has continuously met and exchanged to discuss cooperation in developing strategies for sustainable development.
On September 10, 2024, TTC AgriS representatives also had a strategic meeting with the Singapore Economic Development Board (EDB) to discuss strategic cooperation in sustainable agricultural economic development. EDB, as an important bridge, will work with TTC AgriS to create global synergies based on the long-standing strategic partnership between the two sides, thereby contributing to enhancing the cooperative relationship between the two regions of Vietnam and Singapore.
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| The event was attended by Ms. Dang Huynh Uc My - Chairwoman of TTC AgriS Board of Directors and Mr. Pee Beng Kong - Executive Vice President of EDB and senior staff from both sides. |
Previously, on September 5, 2024, Ms. Dang Huynh Uc My met and discussed with Ms. Susan Burns - US Consul General in Ho Chi Minh City. The content of the conversation focused on TTC AgriS's commitment to always strive to accompany the Vietnamese and US Governments in enhancing economic, trade and investment cooperation between the two countries, not only in the field of agriculture but also joining hands to ensure food security and implement ESG criteria (environment, society, governance).
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Ms. Susan Burns - US Consul General in Ho Chi Minh City (standing in the middle), Ms. Dang Huynh Uc My - Chairwoman of TTC AgriS Board of Directors (right) and Mr. Thai Van Chuyen - General Director of TTC AgriS (left) recorded memories of their meeting at the ceremony.
Continuing the journey of "55 years of service and perfecting the value chain of responsibility", TTC AgriS identifies the fiscal year 2024-2025 as an important pivotal year, and a solid transition point for the next 5-year strategic period 2025-2030.
Accordingly, the Company continues to adhere to the goal of perfecting the "Responsible Value Chain", increasing the value chain from crops, ensuring maximum benefits for stakeholders, developing natural and sustainable nutritional solutions, participating in the global nutritional food and beverage supply chain, moving towards completing the revenue target of 60,000 billion by 2030 and Net Zero by 2035.
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