“**FAIR AND TRANSPARENT BEHAVIOR FROM THE BOARD OF DIRECTORS**”
For the fiscal year 2023-2024, TTC AgriS achieved a record revenue of over VND 29,000 billion, the highest among Vietnamese agricultural companies. Subsequently, for the first quarter of the 2024-2025 fiscal year, the financial results continued to show robust growth. Sugar production is expected to reach 344,000 tons, an increase of 31,400 tons from the previous year, with exports rising by 40,000 tons and MNC by 14,000 tons.
Total revenue increased by VND 474 billion, or 7%, and the projected profit is VND 260 billion, a 3% rise from the same period last year, and it nears 30% of the annual plan. The gross profit margin is forecasted to reach 12.38%, a 1.43% increase from the previous year. Notably, the FBMC segment’s revenue reached VND 132 billion, an impressive threefold increase from the previous year.
Numerous international organizations have continuously approached TTC AgriS to discuss investment and collaborative development opportunities, including the Singapore Economic Development Board (EDB), UOB Bank, SACE Financial Group, ING Bank, IFC, and a host of other international investors.
Currently, five foreign funds hold 22.62% of TTC AgriS’s ownership. Specifically, Legendary Venture Fund has doubled its stake, along with Brilliant Solution Inc., VanEck Vietnam ETF, Phillip Securities (Thailand), and Legal & General ICAV (Ireland). Initially, foreign funds held only 6%, but this figure has gradually grown to the current level of 22.62%. TTC AgriS shared that they are 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 indicate that TTC AgriS is highly regarded by international investors for its agricultural economic model, strategic orientation, and implementation results.
“**ENSURING FAIRNESS AND TRANSPARENCY TOWARDS SHAREHOLDERS, INVESTORS, AND RELATED PARTIES**”
A series of positive events transpired during the three months since Ms. Đặng Huỳnh Ức My took on the role of Chairman of the Board of Directors, and she has recently been bestowed the title of “Outstanding Asian Entrepreneur” for the third consecutive year by the Asia Pacific Enterprise Awards (APEA).
Ms. My shared: “Numerous international investors and leading domestic and global financial institutions have participated in TTC AgriS. Therefore, I must focus on being more determined and less compromising by rigorously practicing good international standards in modern corporate governance, avoiding any abuse of position by majority shareholders, if any, in transactions with related parties. This ensures that all behaviors of the board of directors are fair and transparent towards shareholders, investors, farmers, employees, financial institutions, and partners.”
Currently, TTC AgriS ranks among the top 10 companies in the Best Corporate Governance category – Large Capitalization Group and the top 5 in the Board of Directors category in the Corporate Governance Forum since 2023. The company has adopted advanced international standards such as the IIRC Integrated Report, the ASEAN Corporate Governance Scorecard, the OECD Corporate Governance Principles, and the Global Reporting Initiative’s Sustainability Reporting Standards. These serve as the fundamental framework for the company to ensure fairness and transparency.
“However, I also need to clarify my personal perspective in decisions influenced by voting ratios. I hold only 9% of the personal interest, but with the trust placed in me, along with the nominated members of the Board of Directors, I will work for the benefit of the remaining 91% of shareholders and related parties. Of course, the ultimate decision-making power rests with the general meeting of shareholders. Therefore, I will focus even more on objectivity and transparency in governance so that TTC AgriS can approach the world’s highest standards because this is the key to enhancing shareholder and market confidence,” declared the Chairman of TTC AgriS.
“**INDEPENDENT BOARD MEMBERS: GUARANTEEING OBJECTIVITY AND TRANSPARENCY**”
To achieve this in modern corporate governance, it is essential to have independent board members. The organization’s structure and the members’ qualities are pivotal for the board’s independence and objectivity, ensuring effectiveness, minimizing the risks of family-style management, and guaranteeing that decisions are based on fairness for all shareholders and related parties.
Ms. My stated: “The company will invite additional experts with strong capabilities, extensive experience, and ethical qualities, who have served as independent members of leading enterprises in terms of efficiency and reputation in the market, to join the Board of Directors. Depending on their areas of expertise, these members will be allocated to crucial committees such as the Strategy Committee, Audit Committee, Human Resources Committee, and Sustainability Committee, among others, to advise and vote on the Board of Directors’ decisions. All efforts must be directed towards adhering to international standards and best practices in the market.”
TTC AgriS has appointed two legal representatives, held by the Chairman of the Board of Directors and the General Director. With this clear division of power and responsibilities, this balance enables the company’s decision-making process to benefit from diverse perspectives, careful consideration, and transparency, thereby enhancing the accuracy of strategic decisions, minimizing risks, and increasing the speed and effectiveness of implementing strategic actions.
