Draft:TTC Group VN-Company

TTC Group

Native name	Thành Thành Công
Company type	Non-state Joint Stock Company
Traded as	SBT
Industry	Agriculture, Energy, Real estate, Hospitality, Education
Founded	July 28, 1979 (1979-07-28) in Ho Chi Minh City, Vietnam
Founder	Mr. Đặng Văn Thành and Ms. Huỳnh Bích Ngọc
Headquarters	Ho Chi Minh City , Vietnam
Products	Sugar, solar energy, wind energy, hotels, resorts
Number of employees	≈7000 (2024)
Website	https://www.ttcgroup.vn/en-US/Default.aspx

TTC Group is a Vietnamese multinational group founded by Mr. Đặng Văn Thành and Ms. Huỳnh Bích Ngọc in 1979. Active in fields such as agriculture, energy, real estate, tourism, and education, the group has a presence in Cambodia, Laos, Australia, and Singapore.

TTC Group has its headquarters in its own TTC Land tower, in Tân Bình district, near the Tan Son Nhat International Airport.

History

The TTC group was created in 1979 by Mr. Dang Van Thanh and Ms. Huynh Bich Ngoc, at the start this company just produced alcohol at HCMC.

The TTC group's development is both material and financial, thanks to shareholders, investment in equipment and investment in other companies.

Indeed, from 1979 to 2001, the charter capital was passed from 100 million VND to 25 Billion VND thanks to national alcohol production in Vietnam but above all thanks to shareholders and a diversity of activities (sugar cane, banking, real estate, and tourism).

From 2001 to 2006, the charter capital increased from 25 billion VND to 50 million VND, the reason for a new investment in industrial real estate. Especially thanks to a new warehouse cluster in Song Than Industrial Park (at Binh Duong).

From 2006 to 2012 the charter capital was increased from 50 Billion VND to 1,000 Billion VND thanks to an investment program in a lot of companies. In 2012, the investment portfolio included more than 60 companies.

Lastly, from 2012 to 2020, the aim is a restructuring to continue to develop these activities. In 2013, the company split into several businesses, each specializing in a particular sector with 19 member companies. Finally, in 2019, the group strategy focuses on 4 key industries: real estate, agriculture, hospitality, and energy.

Since 2021, the Group has been preparing for the future of sustainable development in every sector with several green projects, including the creation of green energy, technological development or more education for inhabitants of Vietnam.

Board of Director (BOD)

Name	Job	In 2023
Ms Huynh Bich Ngoc	Chairwoman
Ms Dang Huynh Uc My	Vice chairwoman
Mr Tran Tan Viet	Member
Mr Vo Tong Xuan	Member
Ms Vo Thuy Anh	Independant member
Mr Hoang Manh Tien	Independant member	Resigned on 26/10/2023
Mr Tran Trong Gia Vinh	Independant member
Mr Dao Duy Thi	Member	Appointed on 26/10/2023

Fields

Agriculture

TTC AgriS (Market code : SBT) is the group's agricultural branch. This is the biggest field of the TTC group with a total assets of $1,320 million, a net revenue of $1,059 million and about 2,800 employees (31st December 2023).

With its historic “Bien Hoa” brand, the company holds a 46% share of the Vietnamese sugar market in 2024, making it the market leader and the most prolonged sugar brand in the country.In 2023, the sugar industry experienced an unexpected boom, of which Thanh Thanh Cong-Bien Hoa was one of the players, according to VietnamPlus. In the fourth quarter of 2023, the company's revenues reached VND 7.02 trillion, while its profit margin rose from 7.6% to 10.6%, resulting in a 40% increase in gross profit.

According to its strategic development plan for 2021-2025, the company plans to increase its presence int the global F&B market and aims a revenue target of VND 60,000 billion in 2030. On May 2024, the Dautu journal reveal that TTC AgriS has raised $80 billion from an international Asian financial institution. According to the newspaper, this agreement, which ends in 2025, provides for an investment plan enabling the group to complete its 2021-2025 plan objectives, as well as broadening its vision for 2030. Finally, on July of the same year, the Singapore-domiciled Legendary Venture Fund 1 has spend $30 million on buying shares of Thanh Thanh Cong-Bien Hoa JSC which represent a huge investment in the sugar market.

Energy

TTC Energy (Market code: GEG) is the group's energy branch. This is the second biggest field of TTC Group with a total assets of $684 million, a net revenue of $91 million and about 800 employees (31st December 2023).

On June 2017, VnExpress revealed that the group was planning to spend at least $1 billion on solar projects. This announcement comes to meet the increasing demand for power in Vietnam due to its expanding economy. The next year, on March 2018, the project is purchased along with significant contracts concluded with JDC Vietnam and the Japanese multinational Sharp Corporation, according to the Vietnam Investment Review .

Real estate

TTC Land (Market code: SCR) is the TTC real estate branch. This is the third biggest field of TTC Group with a total assets of $429 million, net revenue of $15 million, and about 300 employees (31st December 2023).

In 2024, despite a 14% drop in sales, profit after tax reached VND 4.8 billion, a 2.4-fold increase over the same period. . On July 2 of the same year, however, the company dissolved two of its subsidiaries to enable the group to restructure and facilitate its operations.

Industrial real estate

TTC Industrial Real Estate (or TTC IZ) is TTC real estate dedicated to industrial projects. This is the fourth biggest field of TTC Group with a total assets of $469 million, a net revenue of $90 million, and about 600 employees (Fiscal year ended 31st December 2023).

Its main areas of activity are investment and construction of industrial projects, as well as support services for warehouses, workshops and port activities. In total, it's about 1,020 hectares of industrial land among which ready-built factories, warehouses, and inland port. The company also offers services such as pledge, mortgage management and freight forwarding.

Hospitality

TTC Hospitality (Market code: VNG) is the TTC tourism branch. The field has total assets of $156 million, a net revenue of $29 million, and more than 1000 employees (Fiscal year ended 31st December 2023).

According to its strategic development plan for 2021-2025, the company plans to invest in a few hotel projects in key cities such as Hue, Da Nang, and Da Lat. Moreover, the company is also present in Cambodia since the opening of its first hotel in the country

Education

TTC Education is the TTC segment dedicated to its university and education program.

In 1985, the TTC - Enhancing Success program was launched to support the best students with scholarships. Since the programme's inception 38 years ago, TTC has donated VND20 billion. In January 2021, TTC Education announced its new IGC (Institute of Global Citizenship) brand, to be held in Ho Chi Minh City. In June 2022, the TTC Group reinstated this segment to promote its quality training. It opens the Yersin University in Dalat to contribute to Vietnam's social development. The TTC Group donated 30 scholarships (worth VND300 million) and developed practice with new equipment for students.

CSR

CSR in Education

Education has been an important part of TTC for many years. In 1985, the TTC - Enhancing Success programme was launched to support the best students with scholarships. Since the programme's inception 38 years ago, TTC has donated VND20 billion. In June 2022, the TTC Group bought Yersin University in Dalat to contribute to Vietnam's social development, not for business. The TTC Group donated 30 scholarships (worth VND300 million) and developed practice with new equipment for students.

CSR in Energy

The company is trying to develop ‘Net Zero’ from 2035, a project that aims to emit zero carbon dioxide (C02). To achieve this, all areas of the TTC group intend to use renewable energy. For example, in 2023, the Duy Tan Long An plastics factory will use solar panels to generate electricity and reduce its CO2 emissions. With a total capacity of 9,932 kWp, this solar energy project is expected to generate 13 million kWh per year. This is equivalent to the annual energy consumption of around 1,900 households or 7,600 people. According to a Duy Tan representative, this solar energy project will help reduce CO2 emissions by around 8,740 tonnes per year, equivalent to the emissions from 1,900 cars per year. This project was possible thanks to TTC Energy as a subcontractor. This project is very important not only for green development but also for the economy because solar panels save a lot of money, which helps to bring prices down or increase profits. The TTC group is increasing its economic development potential because many companies want to benefit from its energy development capabilities. For example, viettel, a company specializing in communications, has become a partner of the TTC group to take advantage of the brand's reputation and the development of their competitiveness.

Travel CSR

TTC Hospitality is responsible for promoting tourism for profit but respects certain CSR principles. In the construction of hotels, EDGE standards, which are not binding, are respected by the group to promote the development of biodiversity. TTC World - Valley of Love has to implement plan 2209 which aims to plant 500,000 trees in the period from 2021 to 2025. Currently, 400,000 trees have been planted. Therefore, the company's goal is to expand its economic activities sustainably while preserving as much as possible the environment and the surrounding communities which benefit from aid programs, particularly in their education. The Tacu Valley Committee has recorded 287 animal species and nearly 200 insect species, including many rare and endangered species. Developing surrounding forests helps limit their disappearance. In addition, solar panels are installed above or near hotels in order to create more renewable energy.

Agriculture CSR

TTC agriculture is also committed to the community by protecting the environment. The company wants to plant 10 million trees by 2035. Over one year, 800,000 were planted at an estimated cost of $2 million. The primary objective of this plantation is to absorb 110,000 tonnes of CO2 per year from 2035. This will gradually offset the company's gas production and enable it to achieve its ‘2035 Green net 0’ objective, i.e. to emit no more C02 by 2035. It is therefore clear that the company does not want to stop polluting, which would be totally counter-productive in economic terms, but rather to contribute to environmental compensation.

Finances

TTC Group has undergone a remarkable rise in power over the course of the 21st century. This can be seen in particular in the charter capital, which has increased 20-fold between 2010 and 2021.

Charter capital evolution

Years	Charter Capital (Billion VND)
2021	20,269
2020	19,395
2017	14,378
2015	11,371
2010	1,000

→Financial State of TTC AGris (SBT)

On the period 2023-2024, we can see that pre-tax profits have risen to almost 906 billion dông, up 26% on the previous period and exceeding the 7% plan announced by the company. The question is whether this record growth will soon slow down or even reverse itself.

Logically, if we look at the biggest companies, we could answer that the company will come to a halt very soon. Group Chairman Dang Van Thanh said it himself: ‘people live a long time, but companies don't’. What's more, within TTC agris the highest proportion of the company's revenue structure is made up of sugar-based products, with affiliated revenues exceeding 91% of total revenues. This figure is not representative, however, because sugar revenues are so high that even revenues from another growing product would seem derisory. For example, electricity sales linked to the solar panels installed recorded more than 268 billion dông, representing growth of 17%, but only 1% of TTC Agris revenues. Fertiliser revenues were slightly up by 8% on the previous year, contributing 291 billion dông, but still equivalent to 1% of total revenues.

The company is persevering and attempting to diversify into other areas which are always in expansions, even though these areas will not make up for 4 decades of expansion. This suggests that in the worst-case scenario, the company will have developed other assets and will be able to diversify to continue to prosper.

To confirm this scenario, Mrs Dang Huynh My and the company's Board of Directors have pledged to focus on developing the sustainable agricultural business model to achieve the revenue target of 60 billion dông by 2030. TTC agris is therefore determined to reassure investors and continue to benefit from their assets in order to prosper. Investors are important to TTC agris, which is why the company complies with a large number of international regulations, enabling it to gain more trust and more investment.
→Financial state of TTC Hospitality (VNG)

TTC hospitality has a great heritage of welcoming different types of tourists from all horizons. At the beginning of 2024, there was little profit, making it impossible to make a profit. Financial income reached VND5.2 billion and financial costs also increased to VND57.3 billion. However, these initial figures for tourism do not give cause for alarm. In other words, the company has reached these high costs (with an increase of 57% compared to 2023) with the aim of amortising them over several years.

These costs are not linked to an increase in the price of raw materials, but rather to a 37% increase in assets between 2023 and 2024, which will be used to welcome more tourists and increase profit expectations.

In 2023, for example, a number of projects will be launched, for example : TTC Van Phong Bay Resort in Khanh Hoa or TTC Mekong Aqua Park (Ben Tre). ;

Awards

• HR Asia

Best companies in Asia ; Winner of Vietnam 2018

• TTC AgriS

Best industrie 4.0 Vietnam 2023

• BCI Asia Awards for Vietnam.

Best spotlight top architecture and real estate firms.

• CSR Silver Awards 2024

Category; USD 500 Million To USD 1 Billion Market Capitalization

• CMO ASIA

TTC Group: 7th RSE best practices in Asia and best environment-friendly project.

• Top 10 leading awards