“**FAIR AND TRANSPARENT BEHAVIOR OF 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 business results continued to grow impressively. Sugar output is expected to reach 344,000 tons, an increase of 31,400 tons from the previous year, with exports increasing by 40,000 tons and MNC by 14,000 tons.
Total revenue increased by VND 474 billion, or 7%, and profit is expected to reach VND 260 billion, up 3% from the same period last year and reaching nearly 30% of the annual plan. The gross profit margin is forecasted at 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 development cooperation, 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. Specifically, Legendary Venture Fund has just doubled its stake, along with Brilliant Solution Inc., VanEck Vietnam ETF, Phillip Securities (Thailand), and Legal & General ICAV (Ireland), among others. Initially, foreign funds held only 6%, but this figure has gradually grown to the current 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 took place during the three months after Ms. Dang Huynh Uc My, who recently received the “Outstanding Asian Entrepreneur” title for the third consecutive time from the Asia Pacific Enterprise Awards (APEA), took on the role of Chairman of the Board of Directors.
Ms. My shared: “Many 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 thoroughly practicing good international standards in modern corporate governance, avoiding the abuse of a major shareholder’s position, 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 is among the top 10 companies in the Best Corporate Governance category – Large Capitalization Group and the top 5 Boards of Directors 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 GRI Global Sustainability Reporting Standards, which form the fundamental framework for ensuring fairness and transparency.
“However, I also need to clarify my personal perspective in decisions influenced by voting ratios. I hold only 9% of personal interest, but with the trust placed in me, along with the nominated members of the Board of Directors, I will work for the interests 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 strengthening the trust of shareholders and the market,” declared the Chairman of TTC AgriS.
“**INDEPENDENT BOARD MEMBERS: GUARANTEEING OBJECTIVITY AND TRANSPARENCY**”
To achieve this in modern corporate governance, it is necessary to have independent board members. The structure and qualities of the members are crucial for the board to function independently and objectively, 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 more 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 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’s decisions. All efforts must be directed towards 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 clear delegation of authority 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 improving the speed and effectiveness of strategic actions.
