The wife of tycoon Dang Van Thanh has left, the largest sugar company in Vietnam has a new 'female general'

Ms. Dang Huynh Uc My - new president of TTC AgriS - Photo: SBT

On July 14, Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, stock code: SBT) announced a change in senior personnel.

Accordingly, Ms. Dang Huynh Uc My will hold the position of Chairman of the Board of Directors, replacing Ms. Huynh Bich Ngoc. Ms. Dang Huynh Uc My is the daughter of Ms. Ngoc and Mr. Dang Van Thanh - Chairman of Thanh Thanh Cong Group.

Before taking the highest position on the Board of Directors of TTC AgriS, Ms. My was vice president and was often called by the nickname "sugar princess".

According to the accompanying information sheet, Ms. My holds nearly 145 million SBT shares of TTC AgriS, equivalent to 19.02% of charter capital (as of July 4, 2024).

In this company, Mr. Truong Hong Quan - Ms. My's husband, does not own any shares. Similarly, Mr. Dang Van Thanh - Ms. My's father and Mr. Dang Hong Anh - Ms. My's brother - also do not hold any shares.

Also today, TTC AgriS announced the resignation of Ms. Huynh Bich Ngoc.

The announcement also stated that Ms. Ngoc was elected as a member of the Board of Directors for a 5-year term (from July 12, 2019), so Ms. Ngoc's term has ended. From July 13, Ms. Ngoc is no longer a member of the Board of Directors and cannot hold the position of Chairman of the Board of Directors.

After changing the chairman position, the board of directors of TTC AgriS includes Ms. My as the new chairman and members Prof. Dr. Vo Tong Xuan; Mr. Tran Tan Viet; Ms. Vo Thuy Anh; Tran Trong Gia Vinh; Dao Duy Thi.

Regarding business situation, in TTC AgriS's Q1-2024 financial report, the company recorded net revenue of VND 6,159 billion, up 8% over the same period, profit after tax of VND 188 billion, up 23%.

According to Vietnam Report's 2023 ranking, TTC AgriS is the largest enterprise in Vietnam in the field of sugar production, processing and trading.

The financial report also shows that the total assets of this enterprise as of the end of March 2024 reached 34,198 billion VND, liabilities 22,875 billion VND, and owners' equity 11,323 billion VND.

Ms. Huynh Bich Ngoc continuously withdrew from the highest positions in the enterprise.

Before resigning as chairwoman of the largest sugar company in the industry, Ms. Huynh Bich Ngoc also resigned as chairwoman of TTC Land - a real estate company in the TTC Group ecosystem.

After Ms. Ngoc withdrew, TTC Land accelerated restructuring by "eliminating" many subsidiaries.

Most recently, on July 11, TTC Land temporarily suspended business at TTC Land Hung Dien Real Estate Investment Joint Stock Company for 12 months from August 1, 2024.

A few days earlier, this company also announced the simultaneous dissolution of two subsidiaries, including TTC Land Retail Management LLC and TTC Land Phu Quoc Real Estate Investment LLC.

Source: https://tuoitre.vn/vo-dai-gia-dang-van-thanh-rut-cong-ty-mia-duong-lon-nhat-viet-nam-co-nu-tuong-moi-20240714131737536.htm