The Chairman of TTC AgriS works in the best interests of 91% of SBT shareholders and stakeholders.

The Chairman of TTC AgriS works in the best interests of 91% of SBT shareholders and stakeholders.

Amidst the ongoing interest from international investors and major financial institutions in Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS) (HOSE: SBT), Ms. Dang Huynh Uc My, Chairwoman of the Board of Directors, affirmed that the company will ensure fairness and transparency for shareholders, investors, and stakeholders.

"The conduct of the Board of Directors must be fair and transparent ."

In the 2023-2024 fiscal year, TTC AgriS achieved record revenue exceeding VND 29,000 billion, the highest among Vietnamese agricultural companies. Following this, at the end of the first quarter of the 2024-2025 fiscal year, business results continued to show strong growth. Sugar production is projected to reach 344,000 tons, an increase of 31,400 tons compared to the previous year, with exports increasing by 40,000 tons and MNC production increasing by 14,000 tons. Total revenue increased by VND 474 billion, equivalent to 7%, and profit is projected to reach VND 260 billion, a 3% increase compared to the same period and nearly 30% of the annual plan. The gross profit margin is forecast to reach 12.38%, an increase of 1.43% compared to the same period. Notably, revenue from the FBMC segment reached VND 132 billion, an impressive three-fold increase compared to the same period.  

Many international organizations have continuously approached TTC AgriS to discuss investment and development cooperation, including the Singapore Economic Development Board (EDB), UOB Bank, SACE Financial Group, ING Bank, IFC, and a host of other international investors.

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

Currently, five foreign funds hold a 22.62% stake in TTC AgriS. Specifically, Legendary Venture Fund recently doubled its stake, along with Brilliant Solution Inc., VanEck Vietnam ETF, Phillip Securities (Thailand), Legal & General ICAV (Ireland), and hundreds of other investors. Initially, foreign funds held only 6%, but this figure has gradually grown to 22.62%. TTC AgriS stated that it is in negotiations to allow this group to increase their ownership to over 35%. This capital will primarily be invested in the company's sustainable agricultural infrastructure.

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

Ensuring fairness and transparency for shareholders . investors and stakeholders

These positive events unfolded during the three months that Dang Huynh Uc My took the "hot seat" as Chairwoman of the Board of Directors, after she received the "Outstanding Asian Entrepreneur" award for the third consecutive time from the Asia Pacific Enterprise Awards (APEA).

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

Ms. My stated, “Many international investors and leading domestic and international financial institutions have participated in TTC AgriS. Therefore, I must focus more resolutely, with less compromise, by thoroughly practicing good international standards in modern corporate governance, avoiding the abuse of the position of a major shareholder, if any, in transactions with related parties. This is to ensure that all actions of the board of directors are fair and transparent to shareholders, investors, farmers, workers, financial institutions, and partners.”

Currently, TTC AgriS is among the top 10 companies with the best corporate governance – large-cap group, and the top 5 in the Board of Directors in the Corporate Governance Forum since 2023. The company has applied advanced international standards such as the IIRC Integrated Reporting, the ASEAN Corporate Governance Scorecard, the OECD Corporate Governance Rules, the Global Sustainable Development Reporting Standards (GRI), etc., which form the basic foundation for the company to ensure fairness and transparency.

“However, I also need to clarify my personal stance on decisions that are influenced by voting percentages. I only have a 9% personal interest, but with the trust and support of the nominated members of the Board of Directors, I will work for the benefit of the remaining 91% of shareholders and stakeholders. Of course, the final decision will still rest with the general shareholders' meeting. Therefore, I will focus even more on objectivity and transparency in governance, so that TTC AgriS approaches the highest global standards, as this is crucial to strengthening shareholder and market confidence,” the Chairman of TTC AgriS declared.

Independent Board Members : Factors that maintain objectivity and transparency.

To achieve this in modern corporate governance, the presence of independent board members is essential. The organizational structure and the qualities of the members are crucial for the board to operate independently and objectively, ensuring efficiency, minimizing the risks of nepotistic management, and guaranteeing that decisions are based on fairness for all shareholders and stakeholders.

Ms. My stated: “The company will invite more competent, experienced, and ethical experts, who have previously served as independent members of leading businesses known for their efficiency and reputation in the market, to join the Board of Directors. Depending on their expertise, these members will be assigned to key committees such as the Strategy Committee, Audit Committee, Human Resources Committee, Sustainable Development Committee, etc., to advise and vote on the Board of Directors' decisions. All must adhere to international standards and best practices in the market.”

TTC AgriS has two legal representatives, held by the Chairman of the Board of Directors and the General Director. With clear delegation of authority and responsibility, this balance allows for diverse perspectives in the company's decision-making process, ensuring careful consideration and transparency. This, in turn, enhances the accuracy of strategic decisions, minimizes risks, and increases the speed 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