Ms. Dang Huynh Uc My (commonly known as the Sugar Princess) has just registered to sell all of her 110,419 SCR shares of Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land – stock code: SCR) from September 18 to October 17.
Ms. Dang Huynh Uc My (43 years old) is the daughter of Mr. Dang Van Thanh, Chairman of Thanh Thanh Cong Group, and Mrs. Huynh Bich Ngoc.
Ms. Dang Huynh Uc My sells off her SCR shares.
The purpose of Ms. My’s sale of all 110,419 SCR shares is to restructure her investment portfolio. Currently, SCR is trading around VND 5,390 per share, which is less than half of its book value of VND 12,314 per share. Since the beginning of April, SCR has decreased by about 32%. Compared to the price at the beginning of 2022, SCR’s market price has dropped by 78%.
In mid-July, Thanh Thanh Cong – Bien Hoa Joint Stock Company (TTC AgriS – stock code: SBT) announced the resolution of its Board of Directors, electing Ms. Dang Huynh Uc My as the new Chairwoman of TTC AgriS, replacing Mrs. Huynh Bich Ngoc.
The former Chairwoman of the Board of Directors of TTC AgriS, Mrs. Huynh Bich Ngoc, now serves as a senior advisor to the Board. Prior to her election as Chairwoman, Ms. My served as Vice Chairwoman of TTC AgriS.
In the second quarter of this year, Saigon Thuong Tin Real Estate Company recorded net revenue of over VND 75 billion, an increase of nearly 10% compared to the same period. The company’s management expenses decreased by almost half to nearly VND 20 billion. As a result, TTC Land’s pre-tax profit in the second quarter was VND 9 billion, a 28% increase compared to the previous quarter.
However, SCR’s post-tax profit was just under VND 1 billion. In the first half of the year, TTC Land earned VND 5.7 billion in post-tax profit and over VND 144 billion in revenue.
As of June 30, TTC Land’s total assets increased by 2% to VND 10,867 billion. SCR recorded inventory of VND 4,100 billion, including VND 2,900 billion in real estate under construction and VND 1,168 billion in real estate goods.
TTC Land uses multiple assets as collateral for bank loans.
TTC Land’s payables amounted to more than VND 5,744 billion, of which short-term debt accounted for the majority with over VND 4,232 billion (nearly 74%), and long-term debt was over VND 1,511 billion.
Notably, the company’s equity was just over VND 5,123 billion. This means that SCR’s payables have exceeded its equity.
According to the second-quarter consolidated financial statements, TTC Land uses multiple assets as collateral for bank loans.
Mrs. Đặng Huỳnh Ức My Seeks to Divest Entire Stake in TTC Land
Mrs. Dang Huynh Uc My has registered to sell her entire holding of 110,419 SCR shares from September 18 to October 17, citing portfolio restructuring as the reason.
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