According to SBT, the purpose of investing in this company is that there is an industry that corresponds to th...
According to SBT, the purpose of investing in this company is that there is an industry that corresponds to the direction and strategy of the company.
The Board of Directors of the Thanh Thanh Cong - Bien Hoa Corporation (SBT) has unanimously approved a resolution on the purchase of shares of the Tay Ninh Sugar Joint Stock Company (Tanisugar).
Specifically, SBT will purchase 16.78 million Tanisugar shares, or 57.07% in the form of an agreement. After completion, SBT’s total stake in Tanisugar reached nearly 64% and Tanisugar became a subsidiary of Thanh Thanh Cong - Bien Hoa
According to SBT, the purpose of investing in this company is that there is an industry that corresponds to the direction and strategy of the company. The implementation period is Q2, Q3 of the year 2021-2022.
Recently, the board of directors of SBT also approved the transfer of 100% of the capital contributed in Miaqua Water Co., Ltd. to Global Mind Commodities Trading Pte.Ltd, the transfer value is 4.5 billion VND.
In terms of the commercial situation, SBT recorded rather positive commercial results in the first quarter of fiscal year 2021-2022 (from July 1, 2021 to June 30, 2022) with a net profit of 195 billion VND, up 98% compared to the same period last year.
We know that the growth was largely driven by a sudden financial income of 346 billion VND, in particular the interest on derivative investments during the period with 241 billion VND, the first quarter of fiscal 2020-2021 did not have this amount.
A recent SSI Research report also predicts net revenue of 20 trillion VND in fiscal 2022, up 34 percent from the previous year and net profit of 889 billion VND, up 38 percent from the previous year.
This result is based on the forecast of an increase in consumption to 1.3 million tonnes, with production increasing by 25% to 902 thousand tonnes while commercial sugar production decreased by -20% to 362 thousand tonnes. Sugar production from sugar cane increased from 41% to 333 thousand tons, and sugar production from imported raw sugar increased from 16% to 569 thousand tons.
Via Cafef