SBT and the quest for a new height
TGVN. Despite various impacts, which are mostly from the COVID-19 pandemic, which also makes macro-economy suffered, Thanh Thanh Cong Joint Stock Company - Bien Hoa (SBT) still made an impressive breakthrough thanks to stable internal resources, along with modern management thinking and management.
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| Ms. Dang Huynh Uc My - SBT Vice Chairwoman. |
SBT’s transformation: A require of professional, specialization and efficiency
SBT's strategy is to become a leading provider of sustainable and sourced agricultural products in Indochina. Therefore, it is not difficult to feel that SBT is accelerating in everything from business development, expanding market share, to restructuring, lean structure, and M&A fees optimization.
From the 2017-2018 period, Dang Huynh Uc My - SBT Vice Chairwoman has drastically implemented synchronous application of international standards for all affiliated companies. The G20/OECD Corporate Governance Code and Corporate Governance Scorecard focus on transparency of information and ensure to maximize benefits for SBT's shareholders, especially small shareholders, in addition to recommendations, current regulations and circulars (which is Decree 71/2017/ND-CP, guiding Corporate Governance applicable to public companies, and Circular 75/2017/TT-BTC).
As a result, at the end of the 2018-2019 period and the beginning of the 2019-2020 period, despite strugglings, SBT still succeeded to attract investment from fastidious investors such as DEG and Coretrends with a total investment of up to nearly 900 billion VND. In the 2019-2020 period, SBT was one of the leading agricultural listed agricultural companies in the development and implementation of a risk management program (Risk Management) as a statement: investment to the SBT will be the best preservation.
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| SBT's TTCS factory in Tay Ninh. |
The stature of the "Giant" of Viet Nam's Sugar Industry is also proven by its flexibility and sophistication in adapting to the situation. The widespread COVID-19 pandemic caused rapid changes in the product value chain’s global distribution system and the habits of trading traditional commodity, from pure spot trading to trading “ future ” commodity, along with the risks of food shortages, renewable resources and pressure from the volatility of domestic and international markets.
In the midst of the challenge, SBT has made a spectacular breakthrough when it successfully consumed 1 million tons of sugar in the 2019 – 2020 period, resulting in an increase in the domestic market share to 46% (from 42% of the previous year). SBT stock continues to maintain its title as the only sugar company in the VN30 index basket by the Ho Chi Minh City Stock Exchange, announced on January 18, 2021.
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| SBT"s Organic ingredients field in Attapeu, Laos. |
SBT and the quest of digitizing operating models
The digitization of the operating model at SBT is getting drastically stronger than ever. In the first half of the 2020-2021 era, SBT announced the implementation of digital transformation to implement a 5-year strategy, aiming to become the most modern digital agriculture enterprise in Viet Nam. KPMG is a companion partner and Oracle cloud is the optional platform for SBT to synchronize and increase the value of the agribusiness chain. With the scale of implementation for 22 companies in 4 countries, participating in digital transformation is a big challenge, and SBT also receives attention from both domestic and foreign business communities about its effort of digitization.
SBT is becoming a new, pioneering and modern, with aims for core goals, resource optimization, standardizing of the entire supply chain, reforming metrics of Active Production and Inventory Planning, setting up a standard data management system from financial indicators close to international standards... to firmly ready for a 5-year strategy of 130% growth compared to the year 2020 and 250% compared to the year 2019.
In order to compete with other sugar companies in the world, along with building internal power, there is also a need to rethink the way of business participation, change the mindset of management and approach to international practices.
With a modern vision and mindset, a well-trained background of in-depth knowledge from the international environment, Dang Huynh Uc My has performed excellently in a leadership role, with a team of persistent and determinations, on the journey to overcome challenges and complete missions.
(TGVN)
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