Why Thanh Thanh Cong leader

The Ho Chi Minh City Stock Exchange (HOSE) has just announced that Ms. Doan Vu Uyen Duyen, Deputy General Director of Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, stock code: SBT) has just registered to sell all 8.1 million SBT shares.

Expected transaction time is from July 25 to August 23 by negotiation and/or order matching. The purpose is to restructure the investment portfolio.

If the transaction is successful, Ms. Duyen will no longer hold SBT shares. Ms. Duyen's sale comes as the stock is gradually recovering after a plunge in mid-April.

Provisionally calculated with the closing price on July 22 of 13,300 VND/share, the estimated value of the above shares is nearly 108 billion VND.

SBT stock fluctuations in recent times Source: Fireant

Before taking the chair of TTC AgriS Board of Directors, Ms. Dang Huynh Uc My registered to sell 70 million SBT shares to restructure her investment portfolio, with the transaction period from July 12 to August 10 by negotiation and/or order matching.

Ms. My is the daughter of Ms. Huynh Bich Ngoc and Mr. Dang Van Thanh - Chairman of Thanh Thanh Cong Group. Ms. My is also known as the "sugar princess".

Regarding business performance, the consolidated financial report for the third quarter of fiscal year 2023-2024 (from January 1 to March 31, 2024) of TTC AgriS recorded net revenue of VND 6,159 billion and profit after tax of VND 187.5 billion, up 8% and 23% respectively over the same period.

By the end of the first quarter of 2024, the value of TTC AgriS's cash and cash equivalents portfolio increased by nearly VND 1,300 billion compared to the end of the second quarter of 2023, to VND 4,445 billion. Of which, cash equivalents (bank deposits, short-term investments...) accounted for 70.5%.

However, TTC AgriS's debt at the end of the first quarter increased by more than VND3,400 billion, to VND22,875 billion. The main reason was that short-term loans and financial lease debts increased by more than VND2,200 billion, to VND13,307 billion; long-term loans and financial lease debts increased by more than VND1,200 billion.

Source: https://nld.com.vn/vi-sao-lanh-dao-thanh-thanh-cong-bien-hoa-muon-ban-sach-81-trieu-co-phieu-sbt-196240722191653227.htm