TẠP CHÍ ĐIỆN TỬ
Sustainable capacity - Sugar Maker TTC AgriS secures additional $80 mln in international capital
Thanh Thanh Cong - Bien Hoa JSC has mobilized $80 million in new foreign capital, bring its mobilization from prestigious financial institutions to $220 million in less than a year.
On May 13, 2024, in Taiwan (China), Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS) completed the signing of a loan agreement for $80 million with E.SUN Commercial Bank from Taiwan (China), which acted as the primary arranger and manager of the loan capital, with participation from a group of banks including the Hua Nan Commercial Bank, the Mega ICBC Bank, the Export-Import Bank of the Republic of China, the Chang Hwa Commercial Bank, the Land Bank of Taiwan, the Shanghai Commercial & Savings Bank, and the Taiwan Business Bank.
The signing ceremony took place in the presence of representatives from TTC Group, TTC AgriS, E.SUN Bank, and the consortium of financial institutions from Taiwan (China) and China. The collaborative agreement is expected to support TTC AgriS in fulfilling its key strategic directions in the 2021-2025 period and realizing its vision to 2030, focusing on exploring potential markets and reaching a revenue target of VND60 trillion.
According to a representative from E.SUN Bank, the loan amount provided by the bank and the group of participating banks exceeded the initial negotiated amount by an impressive 2.26-fold. This reflects the high evaluations from Taiwanese and Chinese credit institutions regarding TTC AgriS’s business operations, growth prospects, creditworthy profile, and comprehensive corporate governance.
Ms. Dang Huynh Uc My, Vice Chairlady of TTC AgriS, who led the company in engaging with the financial institutions, said that with its “green” business strategy, TTC AgriS has not only experienced robust growth but also created sustainable competitive advantages and continued success in international capital mobilization, particularly this $80 million financial deal, underscoring the efficacy of its strategy.
“TTC AgriS aims to establish a playing field for financial institutions and credit organizations to participate in sustainable agricultural economic value chains, contributing to the value resonance and promoting investment for the development of a circular economy,” she said.
E.SUN Bank, established in 1992, is one of the leading banks in Taiwan (China). In addition to its headquarters in Taipei and 139 branches in Taiwan (China), the bank operates a total of 31 business units in ten countries, primarily in financial centers of the Asia-Pacific.
E.SUN Bank is a pioneering bank in ESG (environmental, social, governance) practices in Taiwan (China). It has been included in the Dow Jones Sustainability Emerging Markets Index for ten consecutive years and the Dow Jones Sustainability World Index for the eighth time.
It is ranked in the top 5 per cent of global financial institutions in this Index, and was in the top 1 per cent in 2022 and 2023. This achievement is not only the best in Taiwan (China)’s financial industry but also a remarkable accomplishment in Asia.
As a multinational agricultural enterprise, TTC AgriS has been at the forefront of upgrading and standardizing its corporate management on a sustainable development platform, applying ESG standards across all management, production, and business activities, along with absolute compliance with obligations to stakeholders and transparent information disclosure.
These efforts have positioned TTC AgriS with a distinct competitive edge, meeting stringent comprehensive approval standards and attracting numerous financial institutions for cooperation.
