Mrs. Dang Thi Hoang Yen Returns to the TTC Agri Board

TTC Agri-S, a prominent agribusiness company with the stock code SBT, recently held its annual general meeting for the 2023-2024 fiscal year.

At the gathering, TTC Agri-S announced a remarkable surge in profits, reporting a 33% increase from the previous year. Additionally, the company elected Mr. Le Quang Phuc to its board of directors.

The assembly approved the company’s strategic plan for the 2024-2025 fiscal year, which includes changes to the board composition. The meeting also emphasized the importance of enhancing corporate governance and adopting international best practices.

For the 2023-2024 fiscal year, TTC Agri-S achieved impressive results, with sugar sales surpassing one million tons for the fifth consecutive year. The company’s revenue reached VND 29,021 billion, exceeding the plan by 141% and reflecting a 17% increase compared to the previous year. Notably, net profit amounted to VND 806 billion, marking a significant 33% rise year-over-year.

TTC Agri-S intends to distribute a 10% stock dividend, valued at over VND 740 billion, with an expected issuance date before June 2025.

The assembly also approved the dismissal of Mr. Dao Duy Thi from the board and Ms. Vo Thuy Anh as an independent board member. The number of board members was set at five, including the newly elected Ms. Huynh Bich Ngoc and Mr. Le Quang Phuc.

Mr. Le Quang Phuc also serves as an independent board member for several prominent listed companies, including PNJ, a leading jewelry company.

The new board of TTC Agri-S comprises: Ms. Dang Huynh Uc My (Chairwoman), Ms. Huynh Bich Ngoc (Member), Mr. Tran Tan Viet (Member), Mr. Le Quang Phuc (Independent Member), and Mr. Tran Trong Gia Vinh (Independent Member)

It is worth noting that Ms. Huynh Bich Ngoc is the wife of Mr. Dang Van Thanh, the Chairman of Thanh Thanh Cong Group, and Ms. Dang Huynh Uc My is their daughter. In July, Ms. Ngoc stepped down as chairwoman, passing the role to her daughter, Ms. Uc My.

Amid global sugar industry challenges, TTC Agri-S presented a cautious business plan for the 2024-2025 fiscal year, targeting VND 26,168 billion in revenue and VND 900 billion in pre-tax profits. The company aims to improve its pre-tax profit margin from 3.1% to 3.4%.

During the assembly, Chairwoman Dang Huynh Uc My emphasized the importance of sustainable development for TTC Agri-S’s long-term success. She reiterated the company’s commitment to adopting international best practices in modern corporate governance. Additionally, TTC Agri-S is focused on achieving its VND 60,000 billion revenue goal ahead of schedule.

“I will work for the benefit of all shareholders and stakeholders, prioritizing objectivity and transparency in our governance practices,” affirmed the Chairwoman of TTC Agri-S to the shareholders, investors, farmers, employees, financial institutions, and partners.