CONSOLIDATED
FINANCIAL STATEMENTS
For the year ended 30 June 2021
CONSOLIDATED
TOTAL ASSETS
20,471
BILLION VND
LỢI NHUẬN TRƯỚC THUẾ
HỢP NHẤT
784
TỶ ĐỒNG
CONSOLIDATED
NET PROFIT AFTER TAX
650
BILLION VND
TTC BIEN HOA
2020-2021 ANNUAL REPORT
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
THE COMPANY
Thanh Thanh Cong - Bien Hoa Joint Stock Company (“the Company”) is a shareholding company incorporated under the Law on
Enterprise of Vietnam pursuant to the Investment License No. 1316/GP issued by the Ministry of Planning and Investment on 15 July
1995 and subsequent amended Investment Licenses/Investment Certicates/Enterprise Registration Certicates, with the latest being
11
th
amended Enterprise Registration Certicate dated 17 August 2021.
The Company’s shares were listed on the Ho Chi Minh City Stock Exchange with trading code as SBT in accordance with License No. 27/
QD-SGDCKHCM issued by the Ho Chi Minh City Stock Exchange on 18 February 2008.
The current principal activities of the Company are producing sugar and electricity; planting sugar cane; producing and trading
products using sugar or its by-products, waste products; producing and trading fertilizer, agricultural materials; constructing civil project;
trading hotel and restaurant; constructing and trading industrial zone infrastructure; mechanical processing; consulting engineering,
technology, and management in sugar’s production industry; producing and trading alcohol products; trading real estates, rent houses
and apartments and investing activities.
The Company’s head oce is located at Tan Hung Commune, Tan Chau District, Tay Ninh Province, Vietnam and its representation oce
is located at No. 253, Hoang Van Thu Street, Ward 2, Tan Binh District, Ho Chi Minh City, Vietnam.
BOARD OF DIRECTORS
Members of the Board of Directors during the year and at the date of this report are:
Ms Huynh Bich Ngoc Chairwoman
Ms Dang Huynh Uc My Permanent Vice chairwoman appointed on 17 August 2021
Member resigned on 17 August 2021
Mr Pham Hong Duong Member appointed on 29 July 2021
Permanent Vice chairman resigned on 29 July 2021
Mr Vo Tong Xuan Member
Mr Henry Chung Independent member resigned on 17 August 2021
Ms Vo Thuy Anh Independent member appointed on 9 September 2020
Ms Huang Lovia Independent member appointed on 17 August 2021
Mr Hoang Manh Tien Independent member
INTERNAL AUDIT FUNCTION UNDER THE BOARD OF DIRECTORS
Members of the Internal Audit Function under the Board of Directors during the year and at the date of this report are:
Mr Hoang Manh Tien Chairman
Mr Pham Hong Duong Member appointed on 9 November 2020
Ms Huynh Bich Ngoc Member resigned on 9 November 2020
Mr Henry Chung Member resigned on 9 November 2020
Mr See Beow Tean Member resigned on 1 July 2020
GENERAL INFORMATION
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
MANAGEMENT
Members of the Management during the year and at the date of this report are:
Mr Nguyen Thanh Ngu General Director
Ms Doan Vu Uyen Duyen Permanent Deputy General Director appointed on 6 August 2020
Ms Duong Thi To Chau Deputy General Director resigned on 30 November 2020
Mr Le Quang Hai Deputy General Director resigned on 16 July 2020
Mr Le Duc Ton Branch Director
Mr Huynh Van Phap Acting Deputy Business Director appointed on 1 June 2021
Mr Nguyen Ngoc Van Quan Acting Deputy Supply Director appointed on 7 June 2021
Mr Sathaporn Singhathawat Acting Deputy Agricultural Director appointed on 16 July 2021
Mr Trang Thanh Truc Public Relationship Director
Ms Nguyen Thi Phuong Thao Finance Director appointed on 6 August 2020
LEGAL REPRESENTATIVE
The legal representative of the Company during the year and at the date of this report is Ms Huynh Bich Ngoc.
AUDITORS
The auditor of the Company is Ernst & Young Vietnam Limited.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
The Board of Directors of Thanh Thanh Cong - Bien Hoa Joint Stock Company (“the Company”) are pleased to present this report and the
consolidated nancial statements of the Company and its subsidiaries (“the Group”) for the year ended 30 June 2021.
THE MANAGEMENT’S RESPONSIBILITY IN RESPECT OF THE CONSOLIDATED FINANCIAL STATEMENTS
Management is responsible for the consolidated nancial statements of each nancial year which give a true and fair view of the
consolidated nancial position of the Group and of the consolidated results of its operations and its consolidated cash ows for the year.
In preparing those consolidated nancial statements, management is required to:
• select suitable accounting policies and then apply them consistently;
• make judgements and estimates that are reasonable and prudent;
• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained
in the consolidated nancial statements; and
• prepare the consolidated nancial statements on the going concern basis unless it is inappropriate to presume that the Group
will continue its business.
Management is responsible for ensuring that proper accounting records are kept which disclose, with reasonable accuracy at any time,
the consolidated nancial position of the Group and to ensure that the accounting records comply with the applied accounting system.
It is also responsible for safeguarding the assets of the Group and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Management conrmed that it has complied with the above requirements in preparing the accompanying consolidated nancial
statements.
APPROVAL OF THE BOARD OF DIRECTORS
The Board of Directors does hereby approve the accompanying consolidated nancial statements. Those consolidated nancial
statements give a true and fair view of the consolidated nancial position of the Group as at 30 June 2021 and of the consolidated
results of its operations and its consolidated cash ows for the year ended 30 June 2021 in accordance with Vietnamese Accounting
Standards, Vietnamese Enterprise Accounting System and the statutory requirements relevant to the preparation and presentation of
the consolidated nancial statements.
For and on behalf of the Board of Directors:
APPROVAL OF THE BOARD OF DIRECTORS
Huynh Bich Ngoc
Chairwoman
Ho Chi Minh City, Vietnam
28 September 2021
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
To: The Shareholders of Thanh Thanh Cong - Bien Hoa Joint Stock Company
We have audited the accompanying consolidated nancial statements of Thanh Thanh Cong - Bien Hoa Joint Stock Company (“the
Company”) and its subsidiaries (collectively referred to as “the Group”), as prepared on 28 September 2021 and set out on pages 267 to
323 which comprise the consolidated balance sheet as at 30 June 2021, the consolidated income statement and the consolidated cash
ow statement for the year then ended and the notes thereto.
Management’s responsibility
The Company’s management is responsible for the preparation and fair presentation of the consolidated nancial statements in
accordance with Vietnamese Accounting Standards, Vietnamese Enterprise Accounting System and the statutory requirements relevant
to the preparation and presentation of the consolidated nancial statements, and for such internal control as management determines is
necessary to enable the preparation and presentation of the consolidated nancial statements that are free from material misstatement,
whether due to fraud or error.
Auditors’ responsibility
Our responsibility is to express an opinion on these consolidated nancial statements based on our audit. We conducted our audit
in accordance with Vietnamese Standards on Auditing. Those standards require that we comply with ethical requirements and plan
and perform the audit to obtain reasonable assurance about whether the consolidated nancial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated nancial
statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement
of the consolidated nancial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal
control relevant to the Group’s preparation and fair presentation of the consolidated nancial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the eectiveness of the
Group’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of
accounting estimates made by management, as well as evaluating the overall presentation of the consolidated nancial statements.
We believe that the audit evidence we have obtained is sucient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the consolidated nancial statements give a true and fair view, in all material respects, of the consolidated nancial
position of the Group as at 30 June 2021, and of the consolidated results of its operations and its consolidated cash ows for the
year then ended in accordance with Vietnamese Accounting Standards, Vietnamese Enterprise Accounting System and the statutory
requirements relevant to the preparation and presentation of the consolidated nancial statements.
Ernst & Young Vietnam Limited
INDEPENDENT AUDITORS’ REPORT
Reference: 61428750/22350958-HN
Pham Thi Cam Tu Tran Thanh Thuy
Deputy General Director Auditor
Audit Practicing Registration Certicate Audit Practicing Registration Certicate
No. 2266-2018-004-1 No. 3076-2019-004-1
Ho Chi Minh City, Vietnam
28 September 2021
TTC BIEN HOA
2020-2021 ANNUAL REPORT
VND
Code ASSETS Notes Ending balance Beginning balance
100 A. CURRENT ASSETS 12,577,330,513,959 10,030,796,116,425
110 I. Cash and cash equivalents 5 1,823,297,113,682 999,620,661,512
111 1. Cash 1,008,162,514,798 799,320,661,512
112 2. Cash equivalents 815,134,598,884 200,300,000,000
120 II. Short-term investments 1,239,955,689,130 899,284,845,919
121 1. Held-for-trading securities 6 671,893,844,171 403,156,950,516
122 2. Provision for held-for-trading securities 6 (67,055,613,671) (43,067,104,597)
123 3. Held-to-maturity investments 7 635,117,458,630 539,195,000,000
130 III. Current accounts receivable 6,219,459,439,416 5,447,159,078,206
131 1. Short-term trade receivables 8 1,439,713,356,060 1,026,526,902,684
132 2. Short-term advances to suppliers 9 3,018,336,296,112 2,522,123,757,499
135 3. Short-term loan receivables 272,662,918 673,291,034
136 4. Other short-term receivables 10 1,811,707,695,287 1,937,434,918,704
137 5. Provision for doubtful short-term receivables 8, 9, 10 (50,570,570,961) (39,599,791,715)
140 IV. Inventories 11 3,158,779,109,857 2,529,346,657,059
141 1. Inventories 3,176,587,967,128 2,541,154,800,749
149 2. Provision for obsolete inventories (17,808,857,271) (11,808,143,690)
150 V. Other current assets 135,839,161,874 155,384,873,729
151 1. Short-term prepaid expenses 12 25,488,691,285 48,619,538,175
152 2. Value-added tax deductible 22 97,009,072,862 92,081,678,271
153 3. Tax and other receivables from the State 22 13,341,397,727 14,683,657,283
200 B. NON-CURRENT ASSETS 7,893,568,735,300 7,924,922,667,487
210 I. Long-term receivables 134,910,654,507 101,806,889,451
212 1. Long-term advances to suppliers 9 97,009,546,692 92,623,661,450
215 2. Long-term loan receivables 3,085,633,364 -
216 3. Other long-term receivables 10 77,766,758,024 9,183,228,001
219 4. Provision for doubtful long-term receivables 9 (42,951,283,573) -
220 II. Fixed assets 3,922,472,696,557 4,179,804,562,879
221 1. Tangible xed assets 13 3,495,944,778,665 3,844,903,217,562
222 Cost 8,315,932,564,826 8,484,840,315,880
223 Accumulated depreciation (4,819,987,786,161) (4,639,937,098,318)
224 2. Finance leases 14 96,193,621,914 108,160,541,664
225 Cost 114,851,907,684 140,481,291,500
226 Accumulated depreciation (18,658,285,770) (32,320,749,836)
227 3. Intangible xed assets 15 330,334,295,978 226,740,803,653
228 Cost 407,760,556,202 284,497,398,107
229 Accumulated amortisation (77,426,260,224) (57,756,594,454)
230 III. Investment properties 16 577,878,136,995 592,437,897,729
231 1. Cost 633,621,394,024 638,075,095,511
232 2. Accumulated depreciation (55,743,257,029) (45,637,197,782)
240 IV. Long-term asset in progress 404,248,687,906 341,526,808,768
242 1. 1. Construction in progress 17 404,248,687,906 341,526,808,768
250 V. Long-term investments 18 1,411,279,203,604 1,245,605,087,900
252 1. Investments in associates 18.1 366,562,215,361 381,424,975,548
253 2. Investments in other entities 18.2 941,013,453,920 767,001,478,655
254 3. Provision for long-term investments (6,976,465,677) (2,001,366,303)
255 4. Held-to-maturity investments 18 110,680,000,000 99,180,000,000
260 VI. Other long-term assets 1,442,779,355,731 1,463,741,420,760
261 1. Long-term prepaid expenses 12 1,303,267,123,794 1,319,693,751,650
262 2. Deferred tax assets 35.3 26,067,595,226 10,072,275,631
269 3. Goodwill 19 113,444,636,711 133,975,393,479
270 TOTAL ASSETS 20,470,899,249,259 17,955,718,783,912
CONSOLIDATED BALANCE SHEET
as at 30 June 2021
B01-DN/HN
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
VND
Code ASSETS Notes Ending balance Beginning balance
300 C. LIABILITIES 12,232,594,239,837 10,313,417,423,502
310 I. Current liabilities 8,571,563,364,667 8,807,443,159,566
311 1. Short-term trade payables 20 489,992,316,600 585,381,760,110
312 2. Short-term advances from customers 21 501,412,293,055 145,426,604,808
313 3. Statutory obligations 22 201,989,164,313 178,370,150,839
314 4. Payables to employees 35,379,211,834 16,613,110,146
315 5. Short-term accrued expenses 23 359,259,431,252 361,548,318,820
318 6. Short-term unearned revenues 27 4,143,413,179 6,317,162,616
319 7. Short-term other payables 24 855,570,226,313 394,675,252,848
320 8. Short-term loans and nance lease obligations 25 6,049,524,116,092 6,989,555,523,295
321 9. Short-term provisions 136,952,167 363,858,167
322 10. Bonus and welfare fund 3.18 74,156,239,862 129,191,417,917
330 II. Non-current liabilities 3,661,030,875,170 1,505,974,263,936
336 1. Long-term unearned revenues 27 20,866,365,084 5,575,597,730
337 2. Other long-term liabilities 24 6,327,952,320 6,310,971,782
338 3. Long-term loans and nance lease obligations 25 3,342,233,158,448 1,221,069,938,518
339 4. Convertible bonds 26 159,503,889,694 152,294,181,382
341 5. Deferred tax liabilities 35.3 116,373,610,831 118,723,574,524
342 6. Long-term provision 3.15 13,725,898,793 -
343 7. Scientic and technological development fund 3.18 2,000,000,000 2,000,000,000
400 D. OWNERS’ EQUITY 8,238,305,009,422 7,642,301,360,410
410 I. Capital 28.1 8,238,306,813,157 7,642,312,996,647
411 1. Share capital 6,387,694,800,000 6,083,518,850,000
411a - Shares with voting rights 6,171,581,470,000 5,867,405,520,000
411b - Preference shares 216,113,330,000 216,113,330,000
412 2. Share premium 6,712,852,344,539 6,712,852,344,539
413 3. Convertible bond - options 26 13,666,133,635 13,666,133,635
414 4. Other fund’s belonging to owner’s equity (5,502,116,030,924) (5,502,116,030,924)
417 5. Foreign exchange dierences reserve (289,277,815,455) (127,041,441,949)
418 6. Investment and development fund 16,593,053,101 17,202,026,560
421 7. Undistributed earnings 843,611,740,035 281,924,507,850
421a
- Undistributed earnings (accumulated
losses) by the end of prior year
265,024,407,850 (38,044,364,281)
421b - Undistributed earnings of the year 578,587,332,185 319,968,872,131
429 8. Non-controlling interests 55,282,588,226 162,306,606,936
430 II. Other fund (1,803,735) (11,636,237)
431 1. Subsidised fund (1,803,735) (11,636,237)
440 TOTAL LIABILITIES AND OWNERS’ EQUITY 20,470,899,249,259 17,955,718,783,912
Nguyen Thuy Trang
Preparer
Le Phat Tin
Chief Accountant
Nguyen Thanh Ngu
Chief Executive Ocer
28 September 2021
CONSOLIDATED BALANCE SHEET (CONTINUED)
as at 30 June 2021
B01-DN/HN
TTC BIEN HOA
2020-2021 ANNUAL REPORT
VND
Code ITEMS Notes Current year Previous year
01 1.
Revenues from sale of goods and rendering of
services
29.1 14,940,490,283,184 12,923,457,051,438
02 2. Deductions 29.1 (15,622,657,469) (34,774,449,661)
10 3.
Net revenues from sale of goods and rendering of
services
29.1 14,924,867,625,715 12,888,682,601,777
11 4. Cost of goods sold and services rendered 30 (12,708,943,157,204) (11,434,141,815,578)
20 5.
Gross prot from sale of goods and rendering of
services
2,215,924,468,511 1,454,540,786,199
21 6. Finance income 29.2 498,576,913,809 730,201,665,535
22 7. Finance expenses 31 (853,002,037,811) (853,865,883,976)
23 In which: Interest expense (691,890,712,661) (685,620,883,846)
24 8. Shares of prot from associates 18.1 22,966,160,615 18,736,282,164
25 9. Selling expenses 32 (532,041,650,804) (446,086,303,998)
26 10. General and administrative expenses 32 (561,053,555,001) (381,565,980,379)
30 11. Operating prot 791,370,299,319 521,960,565,545
31 12. Other income 34 47,695,259,333 48,566,222,616
32 13. Other expenses 34 (55,465,608,618) (58,167,071,012)
40 14. Other loss 34 (7,770,349,285) (9,600,848,396)
50 15. Accounting prot before tax 783,599,950,034 512,359,717,149
51 16. Current corporate income tax expense 35.1 (151,576,778,257) (136,720,597,833)
52 17. Deferred tax income (expense) 35.4 18,345,283,288 (12,719,302,684)
60 18. Net prot after tax 650,368,455,065 362,919,816,632
61 19. Net prot after tax attributable to shareholders of the parent 645,041,044,359 364,259,001,778
62 20.
Net prot (loss) after tax attributable to non-controlling
interests
5,327,410,706 (1,339,185,146)
70 21. Basic earnings per share 28.5 932 531
71 22. Diluted earnings per share 28.5 906 519
CONSOLIDATED INCOME STATEMENT
for the year ended 30 June 2021
B02-DN/HN
Nguyen Thuy Trang
Preparer
Le Phat Tin
Chief Accountant
Nguyen Thanh Ngu
Chief Executive Ocer
28 September 2021
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
VND
Code ITEMS Notes Current year Previous year
I. CASH FLOWS FROM OPERATING ACTIVITIES
01 Accounting prot before tax 783,599,950,034 512,359,717,149
Adjustments for:
02
Depreciation of tangible xed assets and investment
properties and amortisation of intangible xed assets
(including amortisation of goodwill)
13, 14, 15, 16,
19
454,273,798,191 465,220,919,767
03 Provisions 102,385,377,641 22,995,122,858
04
Foreign exchange losses arisen from revaluation of
monetary accounts denominated in foreign currencies
1,085,246,309 4,219,939,424
05 Prot from investing activities (196,045,437,432) (569,619,315,855)
06 Interest expenses 30 691,890,712,661 685,620,883,846
08 Operating prot before changes in working capital 1,837,189,647,404 1,120,797,267,189
09 Increase in receivables (787,222,947,700) (212,748,255,201)
10 (Increase) decrease in inventories (635,433,166,379) 262,409,510,754
11 Increase in payables 865,396,802,021 139,170,653,422
12 Decrease in prepaid expenses 39,557,474,746 105,077,139,617
13 Increase in held-for-trading securities (283,954,836,581) (374,906,621,884)
14 Interest paid (709,186,571,966) (723,688,515,355)
15 Corporate income tax paid 22 (159,187,708,942) (169,105,854,417)
17 Other cash outows for operating activities (72,534,419,012) (48,669,289,840)
20 Net cash ows from operating activities 94,624,273,591 98,336,034,285
II. CASH FLOWS FROM INVESTING ACTIVITIES
21 Purchase and construction of xed assets (347,932,042,951) (302,947,407,068)
22 Proceeds from disposals of xed assets 128,262,339,571 17,786,059,812
23 Loans to other entities (246,330,520,514) (636,221,882,031)
24 Collections from borrowers and term deposits 139,308,690,000 733,760,000,000
25 Payments for investments in other entities (274,225,952,623) (1,885,112,291,193)
26 Proceeds from sale of investments in other entities 37,261,677,856 1,257,549,634,970
27 Interest and dividends received 131,872,475,725 103,412,233,274
30 Net cash ows used in investing activities (431,783,332,936) (711,773,652,236)
III. CASH FLOWS FROM FINANCING ACTIVITIES
31 Capital contribution 28 304,175,950,000 685,919,758,974
32 Capital redemption 28 - 1,099,985,561,092
33 Drawdown of borrowings 25 19,623,726,683,852 14,093,156,883,631
34 Repayment of borrowings 25 (18,399,639,028,529) (15,023,192,054,123)
35 Finance lease principal paid 25 (38,395,179,474) (33,834,401,342)
36 Dividends paid 28.2 (328,922,878,030) (214,065,647,645)
40 Net cash ows from nancing activities 1,160,945,547,819 607,970,100,587
50
Net increase (decrease) in cash and cash equivalents
for the year
823,786,488,474 (5,467,517,364)
60 Cash and cash equivalent at beginning of year 999,620,661,512 1,004,775,238,727
61 Impact of exchange rate uctuation (110,036,304) 312,940,149
70 Cash and cash equivalents at end of year 5 1,823,297,113,682 999,620,661,512
CONSOLIDATED CASH FLOW STATEMENT
for the year ended 30 June 2021
B03-DN/HN
Nguyen Thuy Trang
Preparer
Le Phat Tin
Chief Accountant
Nguyen Thanh Ngu
Chief Executive Ocer
28 September 2021
TTC BIEN HOA
2020-2021 ANNUAL REPORT
1. CORPORATE INFORMATION
Thanh Thanh Cong - Bien Hoa Joint Stock Company (“the Company”) is a shareholding company incorporated under the Law on
Enterprise of Vietnam pursuant to the Investment License No. 1316/GP issued by the Ministry of Planning and Investment on 15
July 1995 and subsequent amended Investment Licenses/Investment Certicates/Enterprise Registration Certicates, with the
latest being 11
th
amended Enterprise Registration Certicate dated 17 August 2021.
The Company’s shares were listed on the Ho Chi Minh City Stock Exchange with trading code as SBT in accordance with License
No. 27/QD-SGDCKHCM issued by the Ho Chi Minh City Stock Exchange on 18 February 2008.
The current principal activities of the Company and its subsidiaries (“the Group”) are producing sugar and electricity; planting sugar
cane; producing and trading products using sugar or its by-products, waste products; producing and trading fertilizer, agricultural
materials; constructing civil project; trading hotel and restaurant; constructing and trading industrial zone infrastructure;
mechanical processing; consulting engineering, technology, and management in sugar’s production industry; producing and
trading alcohol products; trading real estates, rent houses and apartments and investing activities.
The Company’s normal course of business cycle is 12 months.
The Company’s head oce is located at Tan Hung Commune, Tan Chau District, Tay Ninh Province, Vietnam and its representation
oce is located at No. 253, Hoang Van Thu Street, Ward 2, Tan Binh District, Ho Chi Minh City, Vietnam.
The number of the Group’s employees as at 30 June 2021 was 2,691 persons (30 June 2020: 3,151 persons).
Corporate structure
As at 30 June 2021, the Company has 16 direct subsidiaries and 10 indirect subsidiaries, as follows:
No Name of subsidiaries Head office Principal activities
Equity
interest and
voting right
(*)(%)
I Direct subsidiaries
1
Thanh Thanh Cong Agricultural
Development Joint Stock Company
Tan Chau District, Tay
Ninh Province
Manufacturing and trading alcohol and
related by-products; manufacturing and
trading electricity; manufacturing fertilizer
and planting sugarcane
90.00
2
Thanh Thanh Cong Gia Lai Company
Limited (“TTC Gia Lai”)
Ayunpa District, Gia
Lai Province
Manufacturing sugar and other by-products
from sugar-cane for sale; manufacturing
electricity for sale; manufacturing and
trading in fertilizer
100.00
3
TSU Investment Private Limited
Company
Singapore
Trading and apart of manufacturing and
packaging raw and rened sugar to sell in
Singapore and export to region
100.00
4
TTC Bien Hoa - Dong Nai Sugar One
Member Limited Company (“BHS”)
Bien Hoa City, Dong
Nai Province
Produce sugars, plant sugar cane, produce
and trading products and by-products from
sugar, producing and trading in fertilizers and
agricultural materials; produce and sale of
electricity; and technical and management
consultancy in the sugar industry
100.00
5
Miaqua Water One Member
Company Limited
Tan Chau District,
Tay Ninh Province
Manufacturing non-alcoholic beverages,
mineral water; manufacturing and
processing soft drinks, fruit juice and soy
milk; manufacturing bottled water
100.00
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
as at 30 June 2021 and for the year then ended
B09-DN/HN
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
as at 30 June 2021 and for the year then ended
B09-DN/HN
1. CORPORATE INFORMATION (CONTINUED)
Corporate structure (Continued)
As at 30 June 2021, the Company has 16 direct subsidiaries and 10 indirect subsidiaries, as follows: (Continued)
No Name of subsidiaries Head office Principal activities
Equity
interest and
voting right
(*)(%)
I Direct subsidiaries (continued)
6 Hai Vi Limited Company
Chau Thanh District,
Tay Ninh Province
Plant sugarcane; provide services of planting
and technical advisory and trade fertilizers,
agricultural products, agricultural machines
and tools
100.00
7
TTC An Hoa Production - Trading
- Service One Member Limited
Liability Company
Trang Bang District,
Tay Ninh Province
Packaging service; producing sugar; trading
food; warehousing and storage of goods;
producing electricity; transmission and
distribution of electricity; installation of electrical
systems; trading real estate
100.00
8
Thanh Cong Green Idea One
Member Limited Liability
Company
Tan Chau District,
Tay Ninh Province
Producing, transmission and distribution of
electricity
100.00
9
Thanh Thanh Cong Food Company
Limited
Tan Binh District, Ho
Chi Minh City
Planting fruit tree, raising cattles 100.00
10
Nuoc Trong Sugar Joint Stock
Company
Tan Chau District,
Tay Ninh Province
Produce sugar; plant sugar cane and wheat
trees; install food industry machineries and
equipment; and wholesale commercial goods
50.58
11
Thanh Thanh Cong Sugarcane
Research and Application Joint
Stock Company
Chau Thanh District,
Tay Ninh Province
Researching and developing sugar cane
sprouts; analysing cultivation and planting
protection products; producing and
developing mechanic machineries for sugar
canes production
100.00
12
Thanh Cong Green Agriculture
One Member Limited Liability
Company
Tan Chau District,
Tay Ninh Province
Producing electricity 100.00
13
Thanh Cong Green One Member
Limited Liability Company
Tan Chau District,
Tay Ninh Province
Producing electricity 100.00
14
Thanh Cong Agriculture
Investment One Member Limited
Liability Company
Tan Chau District,
Tay Ninh Province
Producing electricity 100.00
15
Ninh Hoa Clean Energy One
Member Limited Liability
Company
Ninh Hoa District,
Khanh Hoa Province
Producing electricity 100.00
16
Ninh Hoa Green Energy One
Member Limited Liability
Company
Ninh Hoa District,
Khanh Hoa Province
Producing electricity 100.00
(*) Comprising direct and indirect voting right by the Group
TTC BIEN HOA
2020-2021 ANNUAL REPORT
As at 30 June 2021, the Company has 16 direct subsidiaries and 10 indirect subsidiaries, as follows (continued):
No Name of subsidiaries Head office Principal activities
Equity
interest and
voting right
(*)(%)
II Indirect subsidiaries
1
Bien Hoa - Ninh Hoa Sugar
One Member Limited Liability
Company (“NHS”)
Ninh Hoa District,
Khanh Hoa Province
Produce sugar and by-products from
sugar cane; manufacture electricity; trade
agricultural materials; produce and trade
fertilizer; and provide storage services
100.00
2
Ninh Hoa Thermoelectricity
One Member Limited Liability
Company (“NHE”)
Ninh Hoa District,
Khanh Hoa Province
Manufacture and sell electricity; and provide
electricity system installation service
100.00
3
Gia Lai Thermoelectricity One
Member Company Limited
Ayunpa District, Gia
Lai Province
Manufacture, transmit and distribute
electricity
100.00
4
Bien Hoa - Phan Rang Sugar Joint
Stock Company
Phan Rang - Thap
Cham City, Ninh
Thuan Province
Produce and trade sugar, by-products from
sugar, produce and trade organic fertilizer
and feed alcohol; and trade oil and gas
95,79
5
Bien Hoa - Thanh Long Joint Stock
Company
Chau Thanh District,
Tay Ninh Province
Plant sugar cane; produce and trade fertilizer
and agricultural materials
98.00
6
Bien Hoa Import Export Trading
Joint Stock Company
Phu Nhuan District,
Ho Chi Minh City
Trade sugar and products using sugar as
material; trade foods and beverages
100.00
7
TTC Attapeu Cane Sugar Limited
Company
Gia Lai Province
Trade sugar and other by-products from
sugar cane
100.00
8
TTC Attapeu Sugar Cane Sole
Co., Ltd.
Attapeu Province,
Laos
Plant sugar cane; produce and trade sugar
and other by-products from sugar cane
100.00
9
Mien Trung Bovine Breeding Joint
Stock Company
Ninh Hoa District,
Khanh Hoa Province
Breed cows; plant sugar cane and other
industrial crops
92.04
10
Global Mind Commodities
Trading Pte. Ltd.
Singapore
Trading commodities, derivatives and
rendering services
100.00
(*) Comprising direct and indirect voting right by the Group
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
as at 30 June 2021 and for the year then ended
B09-DN/HN
2. BASIS OF PREPARATION
2.1 Accounting standards and system
The consolidated nancial statements of the Group expressed in Vietnam dong (“VND”), are prepared in accordance with
Vietnamese Enterprise Accounting System and Vietnamese Accounting Standards issued by the Ministry of Finance as per:
• Decision No. 149/2001/QD-BTC dated 31 December 2001 on the Issuance and Promulgation of Four Vietnamese Accounting
Standards (Series 1);
• Decision No. 165/2002/QD-BTC dated 31 December 2002 on the Issuance and Promulgation of Six Vietnamese Accounting
Standards (Series 2);
• Decision No. 234/2003/QD-BTC dated 30 December 2003 on the Issuance and Promulgation of Six Vietnamese Accounting
Standards (Series 3);
• Decision No. 12/2005/QD-BTC dated 15 February 2005 on the Issuance and Promulgation of Six Vietnamese Accounting
Standards (Series 4); and
• Decision No. 100/2005/QD-BTC dated 28 December 2005 on the Issuance and Promulgation of Four Vietnamese Accounting
Standards (Series 5).
Accordingly, the accompanying consolidated nancial statements, including their utilisation are not designed for those who are
not informed about Vietnam’s accounting principles, procedures and practices and furthermore are not intended to present the
consolidated nancial position and the consolidated results of its operations and consolidated cash ows in accordance with
accounting principles and practices generally accepted in countries other than Vietnam.
2.2 Applied accounting documentation system
The Group’s applied accounting documentation system is the General Journal system.
2.3 Fiscal year
The Group’s scal year applicable for the preparation of its consolidated nancial statements starts on 1 July and ends on 30 June.
2.4 Accounting currency
The consolidated nancial statements are prepared in VND which is also the Company’s accounting currency.
2.5 Basis of consolidation
The consolidated nancial statements comprise the nancial statements of the Company and its subsidiaries for the year ended
30 June 2021.
Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Group obtains control, and continued
to be consolidated until the date that such control ceases.
The nancial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent
accounting policies.
All intra-company balances, income and expenses and unrealised gains or losses resulting from intra-company transactions are
eliminated in full.
Non-controlling interests represent the portion of prot or loss and net assets not held by the Group and are presented separately
in the consolidated income statement and within equity in the consolidated balance sheet, separately from the Company
shareholders’ equity.
Impact of change in the ownership interest of a subsidiary, without a loss of control, is recorded in undistributed earnings.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
3.1 Cash and cash equivalents
Cash and cash equivalents comprise cash on hand, cash at banks and short-term, highly liquid investments with an original and
remaining maturity of not more than three months that are readily convertible into known amounts of cash and that are subject
to an insignicant risk of change in value.
3.2 Inventories
Inventories are stated at the lower of cost incurred in bringing each product to its present location and condition, and net
realisable value.
Net realisable value represents the estimated selling price in the ordinary course of business less the estimated costs to complete
and the estimated costs necessary to make the sale.
The perpetual method is used to record inventories, which are valued as follows:
Raw materials, merchandise - cost of purchase on a weighted average basis.
Finished goods and work-in-process - cost of direct materials and labour plus attributable manufacturing
overheads based on the normal operating capacity on a weighted
average basis.
Provision for obsolete inventories
An inventory provision is created for the estimated loss arising due to the impairment of value (through diminution, damage,
obsolescence, etc.) of raw materials, nished goods, and other inventories owned by the Group, based on appropriate evidence
of impairment available at the balance sheet date.
Increases or decreases to the provision balance are recorded into the cost of goods sold account in the consolidated income
statement.
3.3 Receivables
Receivables are presented in the consolidated nancial statements at the carrying amounts due from customers and other
debtors, after provision for doubtful debts.
The provision for doubtful debts represents amounts of outstanding receivables at the balance sheet date which are doubtful
of being recovered. Increases or decreases to the provision balance are recorded as general and administrative expense in the
consolidated income statement.
3.4 Tangible fixed assets
Tangible xed assets are stated at cost less accumulated depreciation.
The cost of a tangible xed asset comprises its purchase price and any directly attributable costs of bringing the tangible xed
asset to working condition for its intended use.
Expenditures for additions, improvements and renewals are added to the carrying amount of the assets and expenditures for
maintenance and repairs are charged to the consolidated income statement as incurred.
When tangible xed assets are sold or retired, any gain or loss resulting from their disposal (the dierence between the net
disposal proceeds and the carrying amount) is included in the consolidated income statement.
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
as at 30 June 2021 and for the year then ended
B09-DN/HN
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.5 Leased assets
The determination of whether an arrangement is, or contains a lease is based on the substance of the arrangement at inception
date and requires an assessment of whether the fullment of the arrangement is dependent on the use of a specic asset and the
arrangement conveys a right to use the asset.
A lease is classied as a nance lease whenever the terms of the lease transfer substantially all the risks and rewards of ownership
of the asset to the lessee. All other leases are classied as operating leases.
Where the Group is the lessee
Assets held under nance leases are capitalised in the consolidated balance sheet at the inception of the lease at the fair value of
the leased assets or, if lower, at the net present value of the minimum lease payments. The principal amount included in future
lease payments under nance leases are recorded as a liability. The interest amounts included in lease payments are charged to
the consolidated income statement over the lease term to achieve a constant rate on interest on the remaining balance of the
nance lease liability.
Capitalised nancial leased assets are depreciated using straight-line basis over the shorter of the estimated useful lives of the
asset and the lease term, if there is no reasonable certainty that the Group will obtain ownership by the end of the lease term.
Rentals under operating leases are charged to the consolidated income statement on a straight-line basis over the lease term.
Where the Group is the lessor
Assets subject to operating leases are included as the Group’s xed assets in the consolidated balance sheet. Initial direct costs
incurred in negotiating an operating lease are recognised in the consolidated income statement as incurred.
Lease income is recognised in the consolidated income statement on a straight-line basis over the lease term.
3.6 Intangible fixed assets
Intangible xed assets are stated at cost less accumulated amortisation.
The cost of an intangible xed asset comprises its purchase price and any directly attributable costs of preparing the intangible
xed asset for its intended use.
Expenditures for additions, improvements are added to the carrying amount of the assets and other expenditures are charged to
the consolidated income statement as incurred.
When intangible xed assets are sold or retired, any gain or loss resulting from their disposal (the dierence between the net
disposal proceeds and the carrying amount) is included in the consolidated income statement.
Land use rights
Land use right is recorded as intangible xed asset on the consolidated balance sheet when the Company obtained the land
use right certicate. The costs of a land use right comprise all directly attributable costs of bringing the land lot to the condition
available for its intended use.
The advance payment for land rental, of which the land lease contracts have eectiveness prior to 2003 and Land use right
certicate being issued, are recorded as intangible xed asset according to Circular No. 45/2013/TT-BTC issued by the Ministry of
Finance on 25 April 2013 guiding the management, use and depreciation of xed assets (“Circular 45”).
TTC BIEN HOA
2020-2021 ANNUAL REPORT
3.7 Depreciation and amortisation
Depreciation of tangible xed assets and nance lease assets and amortisation of intangible xed assets are calculated on a
straight-line basis over the estimated useful life of each asset as follows:
Land use rights 50 years
Buildings and structures 5 - 50 years
Machineries and equipment 5 - 25 years
Oce equipment 3 - 10 years
Computer software 2 - 6 years
Means of transportation 8 - 15 years
Others 12 - 25 years
3.8 Investment properties
Investment properties are stated at cost including transaction costs less accumulated depreciation.
Subsequent expenditure relating to an investment property that has already been recognized is added to the net book value
of the investment property when it is probable that future economic benets, in excess of the originally assessed standard of
performance of the existing investment property, will ow to the Group.
Depreciation and amortisation of investment properties are calculated on a straight-line basis over the estimated useful life of
each asset as follows:
Buildings and structures 20 - 25 years
Land use right 50 years
Investment properties are derecognised when either they have been disposed of or when the investment properties are
permanently withdrawn from use and no future economic benet is expected from its disposal. The dierence between the
net disposal proceeds and the carrying amount of the assets is recognised in the consolidated income statement in the year of
retirement or disposal.
Transfers are made to investment properties when, and only when, there is a change in use, evidenced by ending of owner-
occupation, commencement of an operating lease to another party or ending of construction or development. Transfers are made
from investment properties when, and only when, there is change in use, evidenced by commencement of owner-occupation
or commencement of development with a view to sale. The transfer from investment property to owner-occupied property or
inventories does not change the cost or the carrying value of the property for subsequent accounting at the date of change in use.
3.9 Investments
Investment in associates
The Group’s investment in its associates is accounted for using the equity method of accounting. An associate is an entity in which
the Group has signicant inuence that is neither subsidiaries nor joint ventures. The Group generally deems they have signicant
inuence if they have over 20% of the voting rights.
Under the equity method, the investment is carried in the consolidated balance sheet at cost plus post acquisition changes in the
Group’s share of net assets of the associates. Goodwill arising on acquisition of the associate is included in the carrying amount
of the investment. Goodwill is not amortised and subject to annual review for impairment. The consolidated income statement
reects the share of the post-acquisition results of operation of the associates.
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
B09-DN/HN
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.9 Investments (continued)
Investment in associates (continued)
Under the equity method, the investment is carried in the consolidated balance sheet at cost plus post acquisition changes in the
Group’s share of net assets of the associates. Goodwill arising on acquisition of the associate is included in the carrying amount
of the investment. Goodwill is not amortised and subject to annual review for impairment. The consolidated income statement
reects the share of the post-acquisition results of operation of the associates.
The share of post-acquisition prot (loss) of the associates is presented on face of the consolidated income statement and its share
of post-acquisition movements in reserves is recognised in reserves. The cumulative post-acquisition movements are adjusted
against the carrying amount of the investment. Dividends received or receivable from associates reduce the carrying amount of
the investment.
The nancial statements of the associates are prepared for the same reporting period and use the same accounting policies as the
Group. Where necessary, adjustments are made to bring the accounting policies in line with those of the Group.
Held-for-trading securities and investments in other entities
Held-for-trading securities and investments in other entities are stated at their acquisition costs.
Provision for investments
Provision of the investment is made when there are reliable evidences of the diminution in value of those investments at the
balance sheet date.
Increases or decreases to the provision balance are recorded as nance expenses in the consolidated income statement.
Held-to-maturity investments
Held-to-maturity investments are stated at their acquisition costs. After initial recognition, held-to-maturity investments are
measured at recoverable amount. Any impairment loss incurred is recognised as nance expense in the consolidated income
statement and deducted against the value of such investments.
3.10 Prepaid expenses
Prepaid expenses are reported as short-term or long-term prepaid expenses on the consolidated balance sheet and amortised
over the period for which the amounts are paid or the period in which economic benets are generated in relation to these
expenses.
Deferred sugar cane crop costs and sugarcane farming costs are calculated and amortised to production costs based on the
volume of sugar produced and sugarcane harvested during the period.
Prepaid land rental
The prepaid land rental represents the unamortised balance of advance payment made in accordance with the lease contract
signed with farmers for a period of 44 - 50 years. Such prepaid rental is recognised as a long-term prepaid expense for allocation
to the income statement over the remaining lease period according to Circular 45.
3.11 Business combinations and goodwill
Business combinations are accounted for using the purchase method. The cost of a business combination is measured as the
fair value of assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange plus any costs
directly attributable to the business combination. Identiable assets and liabilities and contingent liabilities assumed in a business
combination are measured initially at fair values at the date of business combination.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
Goodwill acquired in a business combination is initially measured at cost being the excess of the cost the business combination
over the Group’s interest in the net fair value of the acquiree’s identiable assets, liabilities and contingent liabilities. If the cost
of a business combination is less than the fair value of the net assets of the subsidiary acquired, the dierence is recognized
directly in the consolidated income statement. After initial recognition, goodwill is measured at cost less any accumulated
amortization. Goodwill is amortized over 10-year period on a straight-line basis. The parent company conducts the periodical
review for impairment of goodwill of investment in subsidiaries. If there are indicators of impairment loss incurred is higher than
the yearly allocated amount of goodwill on the straight-line basis, the higher amount will be recorded in the consolidated income
statement.
No new goodwill is recorded as for a business combination involving entities under common control, which is a business
combination in which all of the combining entities are ultimately controlled by the same party or parties both before and after the
business combination, and that control is not transitory. An entity may be controlled by an individual or by a group of individuals
acting together under a contractual arrangement. The dierence between the acquirer’s cost of investment and the acquiree’s
net assets is presented as a separate reserve within equity section and recognised in “Other fund’s belonging to owner’s equity”
in the consolidated balance sheet.
Business combinations involving entities under common control are accounted for as follows:
• The assets and liabilities of the combined entities are consolidated at their carrying amounts on the date of business
combination;
• No goodwill is recognised as a result of the business combination; and
• The consolidated income statement reects the results of the combined entities for the full year, irrespective of when the
combination took place.
3.12 Borrowing costs
Borrowing costs consist of interest and other costs that the Group incurs in connection with the borrowing of funds.
Borrowing costs are recorded as expense during the year in which they are incurred, except to the extent that they are capitalised
as explained in the following paragraph.
Borrowing costs that are directly attributable to the acquisition, construction or production of an asset that necessarily take a
substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the respective asset.
3.13 Payables and accruals
Payables and accruals are recognised for amounts to be paid in the future for goods and services received, whether or not billed
to the Group.
3.14 Foreign currency transactions
Transactions in currencies other than the Group’s reporting currency of VND are recorded at the actual transaction exchange rates
at transaction dates which are determined as follows:
• Transaction resulting in receivables are recorded at the buying exchange rates of the commercial banks designated for
collection;
• Transactions resulting in liabilities are recorded at the selling exchange rates of the transaction of commercial banks designated
for payment; and
• Payments for assets or expenses without liabilities initially being recognised is recorded at the buying exchange rates of the
commercial banks that process these payments.
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
B09-DN/HN
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.14 Foreign currency transactions (continued)
At the end of the year, monetary balances denominated in foreign currencies are translated at the actual transaction exchange
rate at the balance sheet dates which are determined as follow:
• Monetary assets are translated at buying exchange rate of the commercial bank where the Group conducts transactions
regularly; and
• Monetary liabilities are translated at selling exchange rate of the commercial bank where the Group conducts transactions
regularly.
All foreign exchange dierences incurred are taken to the consolidated
Conversion of the financial statements of foreign operation
For the purpose of presenting the consolidated nancial statements, the assets and liabilities of the Group’s foreign operation
are translated into VND using exchange rates prevailing at the end of the reporting period. Income and expense items are
translated at the average exchange rates for the year, unless exchange rates uctuated signicantly during that year, in which case
the exchange rates at the dates of the transactions are used. Exchange dierences arising, if any, are recognised in the “foreign
exchange dierence reserve” account in the equity section of the consolidated balance sheet (attributed to non-controlling
interests as appropriate).
3.15 Provisions
Severance allowance
Severance allowance is provided at the rate of one month’s salary for each working year up to 31 December 2008 and the
minimum amount for each employee is two months’ salary in accordance with the Labour Code and related implementing
guidance. Increases to the provision balance other than actual payment to employee are recorded as general and administrative
expense in the consolidated income statement.
This provision is used to settle the severance allowance to be paid to employee upon termination of their labour contract following
Article 49 of the Labour Code.
3.16 Convertible bond
Bonds that are convertible by the holder into a xed number of ordinary shares of the entity are separated into nancial liability
(a contractual arrangement to deliver cash or other nancial assets) and equity instrument (a call option granting the holder the
right, for a specied period of time) based on the terms of the contract.
On issuance of the convertible bond, the fair value of the liability component is determined by discounting the future payment
(including principal and interest) to present value at the market rate for an equivalent non-convertible bond less issuance cost.
The remainder of the proceeds is allocated to the conversion option that is recognised and included in shareholders’ equity. The
carrying amount of the conversion option is not re-measured in subsequent years.
Transaction costs are amortised during the lifetime of the bond. At initial recognition, issuance costs are deducted from the
liability component of the bond.
3.17 Treasury shares
Own equity instruments which are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain or loss
is recognised in prot or loss upon purchase, sale, re-issue or cancellation of the Group’s own equity instruments.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
3.18 Appropriation of net profits
Net prot after tax (excluding negative goodwill arising from a bargain purchase) is available for appropriation to shareholders
after approval in the Annual General Meeting, and after making appropriation to reserve funds in accordance with the Company’s
Charter and Vietnam’s regulatory requirements.
The Group maintains the following reserve funds which are appropriated from the Group’s net prot as proposed by the Board of
Directors and subject to approval by shareholders at the annual general meeting.
•
Investment and development fund
This fund is set aside for use in the Group’s expansion of its operation or of in-depth investment.
•
Bonus and welfare fund
This fund is set aside for the purpose of pecuniary rewarding and encouraging, common benets and improvement of the
employees’ benets, and presented as a liability on the consolidated balance sheet.
•
Scientic and technological development fund
This fund is set aside in accordance with the Decree No. 95/2014/ND-CP dated 17 October 2014 for use in the Group’s scientic
and technological development in Vietnam.
3.19 Earnings per share
Basic earnings per share amounts are calculated by dividing net prot or loss after tax for the year attributable to ordinary
shareholders of the Company (after adjusting for the bonus and welfare fund) by the weighted average number of ordinary
shares outstanding during the year.
Diluted earnings per share amounts are calculated by dividing the net prot or loss after tax attributable to ordinary equity holders
of the Company by the weighted average number of ordinary shares outstanding during the year plus the weighted average
number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares.
3.20 Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benets will ow to the Group and the revenue can be
reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding trade discount, rebate
and sales return. The following specic recognition criteria must also be met before revenue is recognised:
Sale of goods
Revenue is recognised when the signicant risks and rewards of ownership of the goods have passed to the buyer, usually upon
the delivery of the goods.
Sale of electricity
Revenue is recognized based on the actual electricity sold and transferred to the grid at the pre-agreed tari.
Rental income
Rental income arising from operating leases is accounted for on a straight-line basis over the lease term.
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
B09-DN/HN
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.20 Revenue recognition (continued)
Rendering of services
Revenues are recognised upon completion of the services provided.
Interest
Revenue is recognised as the interest accrues (taking into account the eective yield on the asset) unless collectability is in doubt.
Dividends
Income is recognised when the Group’s entitlement as an investor to receive the dividend is established.
3.21 Taxation
Current income tax
Current income tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered
from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted as at
the balance sheet date.
Current income tax is charged or credited to the consolidated income statement, except when it relates to items recognised
directly to equity, in which case the current income tax is also dealt with in equity.
Current income tax assets and liabilities are oset when there is a legally enforceable right for the Group to oset current tax assets
against current tax liabilities and when the Group intends to settle its current tax assets and liabilities on a net basis.
Deferred tax
Deferred tax is provided using the liability method on temporary dierences at the balance sheet date between the tax base of
assets and liabilities and their carrying amount for nancial reporting purposes.
Deferred tax liabilities are recognised for all taxable temporary dierences.
Deferred tax assets are recognised for all deductible temporary dierences, carried forward unused tax credit and unused tax
losses, to the extent that it is probable that taxable prot will be available against which deductible temporary dierences, carried
forward unused tax credit and unused tax losses can be utilised.
The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer
probable that sucient taxable prot will be available to allow all or part of the deferred tax asset to be utilised. Previously
unrecognised deferred tax assets are re-assessed at each balance sheet date and are recognised to the extent that it has become
probable that future taxable prot will allow the deferred tax assets to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realised
or the liability is settled based on tax rates and tax laws that have been enacted at the balance sheet date.
Deferred tax is charged or credited to the consolidated income statement, except when it relates to items recognised directly to
equity, in which case the deferred tax is also dealt with in the equity account.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
Deferred tax assets and liabilities are oset when there is a legally enforceable right for the Group to oset current tax assets
against current tax liabilities and when they relate to income taxes levied by the same taxation authority on either the same
taxable entity or when the Group intends either settle current tax liabilities and assets on a net basis or to realise the assets and
settle the liabilities simultaneously, in each future period in which signicant amounts of deferred tax liabilities or assets are
expected to be settled or recovered.
3.22 Related parties
Parties are considered to be related parties of the Group if one party has the ability to, directly or indirectly, control the other party
or exercise signicant inuence over the other party in making nancial and operating decisions, or when the Group and other
party are under common control or under common signicant inuence. These related parties can be enterprise or individual,
including their close family members.
3.23 Segment information
A segment is a component determined separately by the Group which is engaged in providing products or related services
(business segment), or providing products or services in a particular economic environment (geographical segment), that is
subject to risks and returns that are dierent from those of other segments.
The Group’s business segment is derived mainly from production and trading sugar and sugar related by-products. Management
denes the Group’s geographical segments to be based on the location of the Group’s assets.
4. SIGNIFICANT EVENT DURING THE YEAR
Covid-19 pandemic
The Covid-19 pandemic is resulting in an economic slowdown and adversely impacting most businesses and industries. This
situation may bring uncertainties and have an impact on the environment in which the Group operates. The Group’s management
has continuously monitored ongoing developments and assessed the nancial impact in respects of the valuation of assets,
provisions and contingent liabilities, and has used estimates and judgement in respect of various issues as the situation has
evolved, using the best information obtained up to the date of these consolidated nancial statements.
5. CASH AND CASH EQUIVALENTS
VND
Ending balance Beginning balance
Cash on hand 3,693,260,660 3,854,737,237
Cash in banks 1,004,469,254,138 795,465,924,275
Cash equivalents (*) 815,134,598,884 200,300,000,000
TOTAL 1,823,297,113,682 999,620,661,512
(*) Cash equivalents as at 30 June 2021 represent bank deposits with an original or remaining term of less than three (3) months
in VND at commercial banks which earn interest from 2.8% to 6.2% per annum.
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
B09-DN/HN
6. HELD-FOR-TRADING SECURITIES
This mainly represented investments in listed shares of Gia Lai Electricity Joint Stock Company (“GEG”), Thanh Thanh Cong Tourist
Joint Stock Company (“VNG”), Sai Gon - Nghe Tinh Beer Joint Stock Company (“SB1”), Viet Capital Securities Joint Stock Company
(“VCI”) and Tan Tao Investment and Industry Corporation (“ITA”). As follow:
Ending balance
GEG (*) VNG (**) SB1 Total
Number of shares 38,316,445 1,700,000 1,000 40,017,455
Cost (VND’000) 637,827,822 34,051,000 15,022 671,893,844
Provision (VND’000) (54,759,991) (12,291,000) (4,622) (67,055,613)
Net (VND’000) 583,067,831 21,760,000 10,400 604,838,231
Fair value (VND’000) 662,874,671 21,760,000 10,400 684,645,071
Beginning balance
GEG VNG ITA VCI SB1 Others Total
Number of shares 13,907,000 1,700,000 1,455,000 266,830 1,000 - 17,329,830
Cost (VND’000) 339,978,654 34,051,000 8,470,940 6,747,003 15,022 13,894,331 403,156,950
Provision (VND’000) (34,024,654) (5,661,000) (2,098,040) (1,276,988) (6,422) - (43,067,104)
Net (VND’000) 305,954,000 28,390,000 6,372,900 5,470,015 8,600 13,894,331 360,089,846
Fair value (VND’000) 305,954,000 28,390,000 6,372,900 5,470,015 8,600 N/A
(*) As at 30 June 2021, all of GEG shares were pledged as collateral for long-term bonds obtained from commercial banks (Note 25.4).
(*) As at 30 June 2021, all of VNG shares were pledged as collateral for short-term loan obtained from commercial banks (Note 25.1).
7. HELD-TO-MATURITY INVESTMENTS
This balance represents bank deposits in VND with maturity of twelve (12) months and earns interest at the rates ranging from
3.0% to 6.2% per annum. As at 30 June 2021, a part of bank deposits was pledged as collaterals for the short-term loans obtained
from commercial banks (Note 25.1).
8. SHORT-TERM TRADE RECEIVABLES
VND
Ending balance Beginning balance
Due from other parties 1,424,668,550,733 942,977,117,672
In which:
- Dakai Mineral Water Joint Stock Company 339,047,522,591 -
- Long Son Real Estate Joint Stock Company 96,542,600,000 -
- Tu Vinh Services and Trading Company Limited 91,696,500,000 213,479,110,000
- Ham Luong Investing Trading Company Limited 58,505,935,125 -
- Son Tin Commodity Exchange Joint Stock Company 54,308,423,617 -
- Lien Loc Phat Services Trading Joint Stock Company - 108,091,410,500
- Others 784,567,569,400 621,406,597,172
Due from related parties (Note 36) 15,044,805,327 83,549,785,012
TOTAL 1,439,713,356,060 1,026,526,902,684
Provision for doubtful short-term trade receivables (5,461,112,618) (2,355,871,658)
NET 1,434,252,243,442 1,024,171,031,026
TTC BIEN HOA
2020-2021 ANNUAL REPORT
As at 30 June 2021, a part of short-term trade receivables was pledged as collaterals for the short-term loans obtained from
commercial banks (Note 25.1).
Details of movements of provision for doubtful short-term trade receivables:
VND
Current year Previous year
Beginning balance 2,355,871,658 3,457,073,421
Provisions made during the year 3,105,240,960 5,522,798,990
Utilisation and reversal of provisions during the year - (6,624,000,753)
Ending balance 5,461,112,618 2,355,871,658
9. ADVANCES TO SUPPLIERS
VND
Ending balance Beginning balance
Short-term 3,018,336,296,112 2,522,123,757,499
Advances to related parties (Note 36) 356,377,882,072 529,015,662,681
Advances to farmers (*) 516,011,729,288 379,735,552,751
Advances to other parties 2,145,946,684,752 1,613,372,542,067
In which:
- Dakai Mineral Water Joint Stock Company 421,351,292,395 -
- Long Son Real Estate Joint Stock Company 312,125,453,817 -
-
Hong Quang Vinh Manufacturing Trading Services
Company Limited
202,956,220,000 -
- Son Tin Commodity Exchange Joint Stock Company 185,000,000,000 349,900,000,000
- Ham Luong Investing Trading Company Limited 170,000,000,000 -
- Svayrieng Sugarcane One Member Company Limited 137,089,858,597 63,126,543,196
- New Century Service Trading Joint Stock Company 97,900,000,000 -
- Tu Vinh Services and Trading Company Limited - 499,078,665,783
- Lien Loc Phat Service Trading Joint Stock Company - 301,362,125,734
-
Hong Minh Huy Import Export Services Trading Joint
Stock Company
- 200,000,000,000
- Others 619,523,859,943 199,905,207,354
Long-term 97,009,546,692 92,623,661,450
Advances to farmers (*) 97,009,546,692 92,623,661,450
TOTAL 3,115,345,842,804 2,614,747,418,949
Provision for doubtful short-term advances to suppliers (41,378,336,894) (31,703,663,469)
Provision for doubtful long-term advances to suppliers (42,951,283,573) -
NET 3,031,016,222,337 2,583,043,755,480
(*) Advances to sugarcane farmers are partially secured by the farmers’ land use rights and earned applicable interest.
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
B09-DN/HN
9. ADVANCES TO SUPPLIERS (CONTINUED)
Details of movements of provision for doubtful short-term advances to suppliers:
VND
Current year Previous year
Beginning balance 31,703,663,469 43,354,882,201
Provisions made during the year 11,677,873,008 11,103,142,912
Reversal of provisions during the year (2,003,199,583) (22,754,361,644)
Ending balance 41,378,336,894 31,703,663,469
10. OTHER RECEIVABLES
VND
Ending balance Beginning balance
Short-term 1,811,707,695,287 1,937,434,918,704
Deposits for land rentals (*) 1,196,353,761,507 1,198,218,256,726
Deposits for future contracts 355,087,140,373 281,762,766,763
Interest receivables 195,274,190,684 106,961,636,993
Discount from future contracts - 265,009,882,713
Advances to employees 19,171,040,726 15,139,431,243
Others 45,821,561,997 70,342,944,266
Long-term 77,766,758,024 9,183,228,001
Capital contribution under Business Cooperation
Contract (**)
51,772,000,000 -
Deposits for land rentals 22,500,103,070 9,029,459,533
Others 3,494,654,954 153,768,468
TOTAL
1,889,474,453,311
1,946,618,146,705
Provision for doubtful other short-term receivables (3,731,121,449) (5,540,256,588)
NET
1,885,743,331,862
1,941,077,890,117
In which:
Other receivables from related parties (Note 36) 1,302,235,726,538 1,218,995,305,217
Other receivables from other parties 583,507,605,324 722,082,584,900
(*) Mainly comprise of:
(i)
Deposits amounting to VND 673 billion in accordance with Deposit Contracts dated 21 June 2019 and 26 June 2019 and
Amendment No. 5 dated 30 October 2020 between the Group and Toan Hai Van Joint Stock Company with the total
contract value of VND 1,440 billion to lease land lots with total area of 215,285 m
2
located in Vinh Dam Complex Project,
Phu Quoc District, Kien Giang Province in 40 years; and
(ii)
Deposits amounting to VND 522 billion in accordance with Memorandums dated 24 June 2019 and 25 December 2019
and Amendment No. 9 dated 11 September 2021 between the Group and Thanh Thanh Cong Industrial Zone Joint Stock
Company with total value of VND 634 billion to lease land lots with total area of 456,655.3 m
2
located at Thanh Thanh Cong
Industrial Zone, An Hoi Hamlet, An Hoa Commune, Trang Bang District, Tay Ninh Province in 38 years.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
(**) It represents capital contribution according to Business Cooperation Contract No. 10-03/2021 signed on 10 March 2021, 2021
between the Group and Binh Phuoc Food Production Joint Stock Company to develop the project of Growing high-quality
fruit trees under the form of prot-sharing business cooperation contract without establishing a legal entity. Accordingly, the
Group contributed billion 52 VND to the project and will receive 20% of the total prot after tax of the project. As at 30 June
2021, the Group contributed total amount of VND 51,772,000,000.
Details of movements of provision for doubtful other short-term receivables:
VND
Current year Previous year
Beginning balance 5,540,256,588 626,303,698
Provisions made during the year 6,216,496,778 5,183,437,086
Reversal of provisions during the year (8,025,631,917) (269,484,196)
Ending balance 3,731,121,449 5,540,256,588
11. INVENTORIES
VND
Ending balance Beginning balance
Cost Provision Cost Provision
Finished goods 1,181,757,293,151 (1,826,092,644) 1,051,092,338,189 (3,945,634,726)
Merchandise goods 879,376,621,859 (2,771,075,442) 507,351,475,633 (6,663,039,137)
Raw materials 605,343,996,584 (12,870,840,583) 440,174,810,698 -
Work in progress 468,371,704,167 - 444,169,101,425 -
Tools and supplies 35,497,427,127 (340,848,602) 63,390,339,421 (1,199,469,827)
Goods in transit 5,621,822,782 - - -
Goods on consignment 619,101,458 - 34,976,735,383 -
TOTAL 3,176,587,967,128 (17,808,857,271) 2,541,154,800,749 (11,808,143,690)
As at 30 June 2021, a part of inventories was pledged as collaterals for the short-term loans obtained from commercial banks
(Note 25.1).
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
B09-DN/HN
11. INVENTORIES (CONTINUED)
Details of movements of provision for obsolete inventories:
VND
Current year Previous year
Beginning balance 11,808,143,690 22,165,726,972
Provisions made during the year 8,417,551,301 21,652,663,544
Reversal of provisions during the year (2,416,837,720) (32,010,246,826)
Ending balance 17,808,857,271 11,808,143,690
12. PREPAID EXPENSES
VND
Ending balance Beginning balance
Short-term 25,488,691,285 48,619,538,175
Sugar cane farming costs 5,260,902,971 6,602,348,452
Deferred sugar cane crop costs 8,281,225,072 11,500,067,583
Prepaid land rental - 3,445,559,523
Others 11,946,563,242 27,071,562,617
Long-term 1,303,267,123,794 1,319,693,751,650
Sugar cane farming cost and tree on land (*) 947,491,509,138 969,765,486,374
Prepaid land rental (**) 218,742,927,382 232,864,843,891
Young sugarcane expense 75,052,367,221 60,697,528,550
Tools and supplies 21,506,682,574 23,843,656,742
Others 40,473,637,479 32,522,236,093
TOTAL 1,328,755,815,079 1,368,313,289,825
(*) Sugar cane farming costs mainly represented land costs and expenses for developing of sugar cane farm of the Group with
the amount of VND 808 billion, located at Attapeu Province, Lao People’s Democratic Republic, and the fair value surplus
adjustments in accordance with Appraisal Letter No. 177/017/CT/TDGSG dated 15 August 2017 and be allocated during land
rental duration of 44 years from 1 July 2017.
(**) A part of prepaid land rental as at 30 June 2021 was pledged as collateral for the short-term loans obtained from commercial
banks (Note 25.1).
TTC BIEN HOA
2020-2021 ANNUAL REPORT
13. TANGIBLE FIXED ASSETS
VND
Buildings and
structures
Machinery and
equipment
Means of
transportation
Office
equipment
Other assets Total
Cost:
Beginning balance 1,600,906,512,510 6,467,172,651,388 259,011,998,986 63,732,125,743 94,017,027,253 8,484,840,315,880
New purchase 18,463,482,404 123,051,343,206 997,688,852 1,058,876,406 - 143,571,390,868
Construction in progress completed 19,616,660,591 78,120,901,571 990,193,563 - 121,778,499 98,849,534,224
Reclassication (27,127,855,660) (29,931,807,170) 69,635,463,157 (56,384,904) (19,082,655,499) (6,563,240,076)
Repurchase of nance leases - 73,767,448,385 - - - 73,767,448,385
Disposal (52,578,281,981) (288,916,888,027) (6,391,531,429) (5,462,939,812) (512,226,358) (353,861,867,607)
Impact from foreign exchange dierence (45,812,302,702) (66,571,824,775) (9,897,273,941) (1,254,314,827) (1,135,300,603) (124,671,016,848)
Ending balance 1,513,468,215,162 6,356,691,824,578 314,346,539,188 58,017,362,606 73,408,623,292 8,315,932,564,826
In which:
Fully depreciated 104,904,358,369 1,578,501,349,926 28,402,381,006 13,350,466,184 58,421,831,440 1,783,580,386,925
Accumulated depreciation:
Beginning balance 808,073,008,696 3,592,023,284,048 128,847,943,252 39,722,208,823 71,270,653,499 4,639,937,098,318
Depreciation for the year 64,433,792,743 308,980,174,208 14,812,016,575 3,364,091,423 1,905,906,978 393,495,981,927
Reclassication (6,549,481,150) (13,151,886,793) 23,750,693,581 102,778,942 (6,133,645,550) (1,981,540,970)
Repurchase of nance leases - 25,835,742,195 - - - 25,835,742,195
Disposal (27,854,956,871) (150,836,771,971) (4,365,901,029) (4,215,702,861) (512,226,358) (187,785,559,090)
Impact from foreign exchange dierence (13,489,114,771) (29,739,614,239) (5,030,089,119) (915,359,539) (339,758,551) (49,513,936,219)
Ending balance 824,613,248,647 3,733,110,927,448 158,014,663,260 38,058,016,788 66,190,930,018 4,819,987,786,161
Net carrying amount:
Beginning balance 792,833,503,814 2,875,149,367,340 130,164,055,734 24,009,916,920 22,746,373,754 3,844,903,217,562
Ending balance 688,854,966,515 2,623,580,897,130 156,331,875,928 19,959,345,818 7,217,693,274 3,495,944,778,665
In which:
Pledged as loan security (Note 25) 688,854,966,515 1,979,023,522,589 35,567,618,108 8,672,676,983 7,217,693,274 2,719,336,477,468
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
B09-DN/HN
14. FINANCE LEASES
VND
Machineries
and equipment
Means of
transportation
Total
Cost:
Beginning balance 140,481,291,500 - 140,481,291,500
Additions 44,943,212,369 3,194,852,200 48,138,064,569
Reclassication (1,206,663,471) 1,206,663,471 -
Repurchase (73,767,448,385) - (73,767,448,385)
Ending balance 110,450,392,013 4,401,515,671 114,851,907,684
Accumulated depreciation:
Beginning balance 32,320,749,836 - 32,320,749,836
Depreciation for the year 11,864,015,499 309,262,630 12,173,278,129
Reclassication (540,484,503) 540,484,503 -
Repurchase (25,835,742,195) - (25,835,742,195)
Ending balance 17,808,538,637 849,747,133 18,658,285,770
Net carrying amount:
Beginning balance 108,160,541,664 - 108,160,541,664
Ending balance 92,641,853,376 3,551,768,538 96,193,621,914
15. INTANGIBLE FIXED ASSETS
VND
Land use rights Computer software Others Total
Cost:
Beginning balance 238,916,874,049 45,544,144,124 36,379,934 284,497,398,107
New purchase 108,247,631,225 6,387,062,684 - 114,634,693,909
Construction in progress
completed
- 6,751,885,468 - 6,751,885,468
Disposal (4,626,206,608) - - (4,626,206,608)
Reclassication - 6,563,240,076 - 6,563,240,076
Foreign exchange dierences - (60,454,750) - (60,454,750)
Ending balance 342,538,298,666 65,185,877,602 36,379,934 407,760,556,202
In which:
Fully amortised 6,198,443,436 7,393,696,041 36,379,934 13,628,519,411
Accumulated amortisation:
Beginning balance 38,599,433,940 19,120,780,580 36,379,934 57,756,594,454
Amortisation for the year 14,185,611,587 4,142,823,355 - 18,328,434,942
Disposal (622,347,904) - - (622,347,904)
Reclassication - 1,981,540,970 - 1,981,540,970
Foreign exchange dierences - (17,962,238) - (17,962,238)
Ending balance 52,162,697,623 25,227,182,667 36,379,934 77,426,260,224
Net carrying amount:
Beginning balance 200,317,440,109 26,423,363,544 - 226,740,803,653
Ending balance 290,375,601,043 39,958,694,935 - 330,334,295,978
In which:
Pledged as loan security
(Note 25)
290,375,601,043 - - 290,375,601,043
TTC BIEN HOA
2020-2021 ANNUAL REPORT
16. INVESTMENT PROPERTIES
VND
Land use rights
Buildings and
structures
Total
Cost:
Beginning balance 223,360,711,418 414,714,384,093 638,075,095,511
Disposal (2,449,767,860) - (2,449,767,860)
Foreign exchange dierences - (2,003,933,627) (2,003,933,627)
Ending balance 220,910,943,558 412,710,450,466 633,621,394,024
Accumulated depreciation and amortisation:
Beginning balance 6,521,994,359 39,115,203,423 45,637,197,782
Depreciation and amortisation for the year 585,121,432 9,782,572,897 10,367,694,329
Foreign exchange dierences - (261,635,082) (261,635,082)
Ending balance 7,107,115,791 48,636,141,238 55,743,257,029
Net carrying amount:
Beginning balance 216,838,717,059 375,599,180,670 592,437,897,729
Ending balance 213,803,827,767 364,074,309,228 577,878,136,995
In which:
Pledged as loan security (Note 25.1) 213,803,827,767 340,571,047,743 554,374,875,510
The fair values of the investment properties as at 30 June 2021 had not yet been formally assessed and determined. However,
based on current rental situation and the market value of these investment properties, the management believed that their fair
values were higher than their carrying values as at the balance sheet date.
Revenue and expense relating to investment properties
VND
Current year Previous year
Rental income from investment properties 33,659,573,805 30,213,621,672
Direct operating expenses of investment properties that generated rental
income during the year
(14,264,322,421) (16,566,455,776)
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B09-DN/HN
17. CONSTRUCTION IN PROGRESS
VND
Ending balance Beginning balance
Solar energy system 188,050,121,057 237,601,325,244
ERP Cloud system 62,233,649,063 2,250,494,599
Machineries and equipment under installation 56,100,856,598 27,208,126,436
Machineries and equipment for Banana farms 41,883,613,413 3,174,718,765
Boiler system 37,103,760,024 -
Drying bagasse system - 40,095,293,483
Others 18,876,687,751 31,196,850,241
TOTAL 404,248,687,906 341,526,808,768
18. LONG-TERM INVESTMENTS
VND
Ending balance Beginning balance
Investments in associates (Note 18.1) 366,562,215,361 381,424,975,548
Investments in other entities (Note 18.2) 941,013,453,920 767,001,478,655
Held-to-maturity investments (*) 110,680,000,000 99,180,000,000
TOTAL 1,418,255,669,281 1,247,606,454,203
Provision for long-term investments (6,976,465,677) (2,001,366,303)
NET 1,411,279,203,604 1,245,605,087,900
(*) It represents long term bonds with the terms from three (3) years to ten (10) years at commercial banks and earning interest
from 6.5% to 8.0% per annum. A part of long-term bonds as at 30 June 2021 were pledged as collateral for loans obtained
from commercial banks (Note 25).
18.1 Investments in associates
Details of these investments in associates were as follows:
Name of
associates
Ending balance Beginning balance
Quantity
Carrying
amount
% of interest Quantity Carrying amount % of interest
(share) (VND) (%) (share) (VND) (%)
Tan Dinh Import
Export Joint
Stock Company
(“Tadimex”) (i)
2,082,900 366,562,215,361 41,65 2,082,900 351,065,814,753 41.65
Sorbitol French
- Vietnam Joint
Stock Company1
(“Sorbitol”) (Note
18.2)
- - 3,157,920 30,359,160,795 19.13
TOTAL 366,562,215,361 381,424,975,548
TTC BIEN HOA
2020-2021 ANNUAL REPORT
(i) This company’s main business activities is leasing of oce building.
Fair value of these investments are not ocially determined as at 30 June 2021 due to unavailability of market information.
However, based on the current nancial position of these companies, the management believed that their fair value were higher
than their book values as at the balance sheet date.
Details of these investments in associates were as follows (continued):
VND
Cost of investment:
Beginning balance 391,920,900,000
Additional investments during the year 256,565,000,000
Transfer to other long-term investment by decreasing interests (288,144,200,000)
Ending balance 360,341,700,000
Accumulated share in post-acquisition prot (loss) of the associates:
Beginning balance (10,495,924,452)
Share in post-acquisition prot of the associates for the year 22,966,160,615
Transfer to other long-term investment by decreasing interests (6,249,720,802)
Ending balance 6,220,515,361
Net carrying amount:
Beginning balance 381,424,975,548
Ending balance
366,562,215,361
1
Formerly known as Tay Ninh Chemical Industry Joint Stock Company.
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
B09-DN/HN
18. LONG-TERM INVESTMENTS (CONTINUED)
18.2 Investments in other entities
Details of these investments in associates were as follows (continued):
Business activities
Ending balance Beginning balance
Cost of
investment
(VND)
% of
interest
%
Cost of
investment
(VND)
%
of interest
%
Toan Hai Van Joint Stock
Company
Operating real estate, port,
warehouse
594,279,765,337 18.76 591,654,980,000 18.12
Huynh Industrial
Zones Exploitation and
Management Joint Stock
Company (“Dang Huynh
Company”) (*)
Leasing industrial zone 266,154,514,119 9.55 112,700,000,000 10.89
Tay Ninh Sugar Joint Stock
Company
Planting sugarcane,
producing and trading in
sugar, cassava and rubber
59,051,540,000 6.93 59,051,540,000 6.93
Tan Hoi Industrial Complex
Infrastructure Investment
Joint Stock Company
Trading real estates, land
use rights belonging to the
Company or from leasing
activities
1,940,478,185 6.74 1,940,478,185 6.74
Sorbitol (**)
Producing starch and
products related to
starch; producing articial
condensed products,
non-alcohol and mineral
water, nitrogen compound;
installing machinery and
industrial equipment
17,951,535,922 18.86 - -
Other long-term
investments
1,635,620,357 1,654,480,470
TOTAL 941,013,453,920 767,001,478,655
Provision for diminution
in value of long-term
investment
(6,976,465,677) (2,001,366,303)
NET 934,036,988,243 765,000,112,352
Fair value of these investments are not determined ocially as at 30 June 2021 due to unavailability of market information.
However, based on the nancial position of these companies, the management believed that their fair values were higher than
their book value as at the balance sheet date.
(*) During the year, the Group completed the acquisition of 4,170,000 shares, equivalent to 9.27% equity interest in Dang Huynh
Company for a consideration of VND 143,865,000,000. Accordingly, the Group’s interest in Dang Huynh Company increased from
10.89% to 20.16% and Dang Huynh Company became the Group’s associate.
On 20 January 2021, Dang Huynh increased its share capital. In according, the actual capital contribution rate of the Group’s
capital contribution decreased to 9.55% and Dang Huynh Company is not the associate of the Group at balance sheet date.
As at 30 June 2021, a part of Dang Huynh Company‘s shares was pledged as collateral for short-term loan obtained from
commercial banks (Note 25.1).
(**) Durnig the year, Sorbitol increased the capital contribution. In according, the actual capital contribution rate of the Group’s
actual capital contribution decreased to 18.86% (30 June 2020: 20.10% - Note 18.1) and Sorbitol is not the associate of the
Group as at the balance sheet date.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
19. GOODWILL
VND
Cost:
Beginning and ending balances 196,175,605,787
Accumulated amortisation:
Beginning balance 62,200,212,308
Amortisation for the year 20,530,756,768
Ending balance 82,730,969,076
Net carrying amount:
Beginning balance
133,975,393,479
Ending balance
113,444,636,711
20. SHORT-TERM TRADE PAYABLES
VND
Ending balance Beginning balance
Due to related parties (Note 36) 64,998,706,600 107,391,356,427
Due to other parties 424,993,610,000 477,990,403,683
In which:
- Czarnikov Group Limited 117,890,849,029 78,448,807,979
- Farmers 61,548,206,251 66,485,218,314
- Svayrieng Sugarcane One Member Company Limited 8,506,968,200 172,264,536
- ED&F MAN Sugar Limited - 40,078,975,876
- Others 237,047,586,520 292,805,136,978
TOTAL 489,992,316,600 585,381,760,110
21. SHORT-TERM ADVANCES FROM CUSTOMERS
VND
Ending balance Beginning balance
Due to related parties (Note 36) 20,466,923,454 45,161,183,576
Due to other parties 480,945,369,601 100,265,421,232
In which:
- Vietnam Sugar Joint Stock Company 119,201,620,000 -
-
Hong Minh Import Export One-member Company
Limited
116,273,122,028 -
- Son Tin Commodity Exchange Joint Stock Company 82,383,434,528 -
- Thanh Nien Printing Joint Stock Company 33,740,067,110 -
- XinYuan Trading (Thailand) Co,, Ltd. - 36,487,098,670
- Xiamen Hehujia Trading Co,, Ltd. - 29,528,430,500
- Kingwell Co,. Ltd. - 17,729,459,300
- Pham Nguyen Confectionery Corporation - 12,343,731,250
- Others 129,347,125,935 4,176,701,512
TOTAL 501,412,293,055 145,426,604,808
SBT AT GLANCE CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
B09-DN/HN
22. STATUTORY OBLIGATIONS
VND
Beginning balance
Increase during
the year
Decrease during
the year
Ending balance
Payables
Corporate income tax 91,135,917,112 161,343,481,165 (158,854,319,346) 93,625,078,931
Value-added tax 47,820,991,403 781,054,337,044 (761,842,046,524) 67,033,281,923
Personal income tax 8,752,844,754 16,443,023,367 (13,803,218,352) 11,392,649,769
Others 30,660,397,570 63,238,436,201 (63,960,680,081) 29,938,153,690
TOTAL 178,370,150,839 1,022,079,277,777 (998,460,264,303) 201,989,164,313
Receivables
Value-added tax deductible 92,081,678,271 381,217,219,448 (376,289,824,857) 97,009,072,862
Corporate income tax 5,920,669,970 551,360,827 (333,389,596) 6,138,641,201
Personal income tax 422,727,214 1,281,019,663 (1,158,917,062) 544,829,815
Other 8,340,260,099 4,584,169 (1,686,917,557) 6,657,926,711
TOTAL 106,765,335,554 383,054,184,107 (379,469,049,072) 110,350,470,589
23. SHORT-TERM ACCRUED EXPENSES
VND
Ending balance Beginning balance
Interest expenses 80,862,691,182 118,227,133,942
Transportation and loading fees 45,697,312,684 35,210,471,142
External services expense 47,984,131,474 14,696,825,525
Accrued foreign contractor withholding tax 39,542,448,350 18,526,087,020
Bonus and support fees for agencies 21,710,460,441 19,336,490,902
Purchase of sugarcane 13,123,177,885 86,865,960,582
Others 110,339,209,236 68,685,349,707
TOTAL 359,259,431,252 361,548,318,820
24. OTHER PAYABLES
VND
Ending balance Beginning balance
Short-term 855,570,226,313 394,675,252,848
Payables for letters of credit (*) 715,494,673,000 -
Dividends 45,966,806,511 324,120,209,282
Reimbursement of expenses 24,508,345,350 15,773,749,677
Dierence in purchase price of raw materials from futures contracts 24,165,675,528 -
Interest expenses 16,011,894,070 10,940,876,482
Deposits 4,449,846,183 11,978,374,983
Others 24,972,985,671 31,862,042,424
Long-term 6,327,952,320 6,310,971,782
Deposits 6,327,952,320 6,310,971,782
TOTAL 861,898,178,633 400,986,224,630
In which:
Other parties 832,136,012,079 379,104,033,788
Related parties (Note 36) 29,762,166,554 21,882,190,842
(*) This represents the payable to commercial banks in respect of the purchase of materials through deferred letters of credit at
commercial banks (UPAS L/C), due at maturity date and charged at applicable fee rate.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
25. LOANS AND FINANCE LEASE OBLIGATIONS
VND
Opening balance
Movement during the year
Ending balance
Repayment Reclassification Reclassification
Foreign exchange
difference
Short-term 6,989,555,523,295 16,657,274,707,406 (18,228,853,474,592) 632,562,273,769 (1,014,913,786) 6,049,524,116,092
Loans from banks
(Note 25.1)
6,362,365,007,014 16,428,645,186,669 (17,439,660,293,658) - (1,176,230,685) 5,350,173,669,340
Loans from other party
(Note 25.2)
5,182,643,698 36,051,207,130 (5,140,380,410) - (42,261,900) 36,051,208,518
Loans from related parties
(Note 36)
39,000,000,000 190,000,000,000 (223,392,904,099) - - 5,607,095,901
Current portion of long-term
loans from banks
(Note 25.3)
255,180,631,198 - (228,375,313,707) 217,647,284,386 203,578,799 244,656,180,676
Current portion of long-term
bonds
(Note 25.4)
309,180,571,649 696,666,688 (309,877,238,344) 390,290,466,667 - 390,290,466,660
Current portion of nance
leases
(Note 25.5)
18,646,669,736 1,881,646,919 (22,407,344,374) 24,624,522,716 - 22,745,494,997
Long - term 1,221,069,938,518 2,966,451,976,446 (209,180,733,411) (632,562,273,769) (3,545,749,336) 3,342,233,158,448
Loans from banks
(Note 25.3)
540,073,355,176 619,156,827,656 (109,889,282,723) (217,647,284,386) (3,545,749,336) 828,147,866,387
Long-term bonds
(Note 25.4)
634,588,761,689 2,297,456,115,334 (83,303,615,588) (390,290,466,667) - 2,458,450,794,768
Long-term nance leases
(Note 25.5)
46,407,821,653 49,839,033,456 (15,987,835,100) (24,624,522,716) - 55,634,497,293
TOTAL 8,210,625,461,813 19,623,726,683,852 (18,438,034,208,003) - (4,560,663,122) 9,391,757,274,540
B09-DN/HN
25. LOANS AND FINANCE LEASE OBLIGATIONS (CONTINUED)
25.1 Short-term loans from banks
Banks
Ending balance
Principal repayment term Descriptions of collaterals
VND
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Gia Dinh Branch
894,438,926,368 From 13 July 2021 to 11 December 2021
Land use rights of 329.44 ha at Ben Cau District; capital
contribution in Thanh Thanh Cong Gia Lai One Member
Co., Ltd. bank deposits, held for trading securities and
real estate in Bien Hoa Province
Vietnam Maritime Commercial Stock Bank -
Ho Chi Minh city Branch
592,716,775,375 From 25 June 2021 to 5 December 2021
Machines and equipment of a subsidiary; land use right
at land lot No. 8 at Thai Binh Commune, Chau Thanh
District, Tay Ninh Province; SBT shares owned by related
parties and bank deposits
Orient Commercial Joint Stock Bank - Dak
Lak Branch
391,224,838,148 From 25 June 2021 to 6 November 2021
Inventory and a part of capital contribution in subsidiary;
SBT shares owned by related parties and other shares
owned by a third party; debt collection rights formed
in the future / formed from the sugar purchase and
sale contract between companies within the Group;
property rights and land use right arising from the
sublease contract land use rights with Thanh Thanh
Cong Industrial Zone JSC
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Khanh Hoa Branch
349,398,974,569 From 3 August 2021to 25 November 2021 Bank deposits; bonds issued by BIDV and inventories
Military Commercial Joint Stock Bank - Ho
Chi Minh City Branch
307,269,183,334 From 6 August 2021 to 30 December 2021
Inventories, short-term trade receivables, bank deposits;
held for trading securities; land use rights of 65.13 ha in
Thanh Long Commune, Chau Thanh District, Tay Ninh
Province
Malayan Banking Berhad Bank 271,200,031,989 From 10 August 2021 to 7 December 2021 Inventories and short-term trade receivables
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Ho Chi Minh City Branch
256,956,084,571 From 29 July 2021 to 31 December 2021
Bank deposits; bonds issued by BIDV and land use rights
of 144.51 ha at Tay Ninh Province
Vietnam Joint Stock Commercial Bank for
Industry and Trade - Tay Ninh Branch
249,347,560,178 From 19 July 2021 to 21 December 2021
Land use rights of 156.2 ha at Tay Ninh Province;
machineries and equipment and bank deposits
TTC BIEN HOA
2020-2021 ANNUAL REPORT
25. LOANS AND FINANCE LEASE OBLIGATIONS (CONTINUED)
25.1 Short-term loans from banks
Banks
Ending balance
Principal repayment term Descriptions of collaterals
VND
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Gia Dinh Branch
894,438,926,368 From 13 July 2021 to 11 December 2021
Land use rights of 329.44 ha at Ben Cau District; capital
contribution in Thanh Thanh Cong Gia Lai One Member
Co., Ltd. bank deposits, held for trading securities and
real estate in Bien Hoa Province
Vietnam Maritime Commercial Stock Bank -
Ho Chi Minh city Branch
592,716,775,375 From 25 June 2021 to 5 December 2021
Machines and equipment of a subsidiary; land use right
at land lot No. 8 at Thai Binh Commune, Chau Thanh
District, Tay Ninh Province; SBT shares owned by related
parties and bank deposits
Orient Commercial Joint Stock Bank - Dak
Lak Branch
391,224,838,148 From 25 June 2021 to 6 November 2021
Inventory and a part of capital contribution in subsidiary;
SBT shares owned by related parties and other shares
owned by a third party; debt collection rights formed
in the future / formed from the sugar purchase and
sale contract between companies within the Group;
property rights and land use right arising from the
sublease contract land use rights with Thanh Thanh
Cong Industrial Zone JSC
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Khanh Hoa Branch
349,398,974,569 From 3 August 2021to 25 November 2021 Bank deposits; bonds issued by BIDV and inventories
Military Commercial Joint Stock Bank - Ho
Chi Minh City Branch
307,269,183,334 From 6 August 2021 to 30 December 2021
Inventories, short-term trade receivables, bank deposits;
held for trading securities; land use rights of 65.13 ha in
Thanh Long Commune, Chau Thanh District, Tay Ninh
Province
Malayan Banking Berhad Bank 271,200,031,989 From 10 August 2021 to 7 December 2021 Inventories and short-term trade receivables
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Ho Chi Minh City Branch
256,956,084,571 From 29 July 2021 to 31 December 2021
Bank deposits; bonds issued by BIDV and land use rights
of 144.51 ha at Tay Ninh Province
Vietnam Joint Stock Commercial Bank for
Industry and Trade - Tay Ninh Branch
249,347,560,178 From 19 July 2021 to 21 December 2021
Land use rights of 156.2 ha at Tay Ninh Province;
machineries and equipment and bank deposits
Banks
Ending balance
Principal repayment term Descriptions of collaterals
VND
Vietnam Joint Stock Commercial Bank
for Industry and Trade - Ho Chi Minh City
Branch
245,083,554,511 From 15 July 2021 to 22 September 2021
Short-term trade receivables; inventories; bank deposits;
bonds owned by subsidiaries and a related party;
machineries and equipment and real estate located
at No 2 Hai Ba Trung, Can Tho City and construction
associated with land owned by a related party
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Gia Lai Branch
110,000,000,000
90,000,000,000
From 7 November 2021 to 21 November 2021
Unsecured
Inventories and bank deposits
Orient Commercial Joint Stock Bank - Gia
Lai Branch
197,564,027,435 From 23 August 2021 to 15 December 2021
Inventories; debt collection right arised in the future;
held for trading securities; bank deposits and shares of
other investment owned by subsidiaries
Vietnam International Commercial Joint
Stock Bank - Dong Nai Branch
167,547,109,960 From 3 September 2021to 15 November 2021
Inventories; short-term trade receivables; guarantee
letter and commitment to pay issued by the Company
Joint Stock Commercial Bank for Foreign
Trade of Vietnam - Khanh Hoa Branch
160,047,424,638 From 29 October 2021to 21 December 2021
Bank deposits, means of transportations, inventories
and agricultural land use right
Vietnam Prosperity Joint Stock Commercial
Bank - Ho Chi Minh Branch
155,238,700,617 From 20 August 2021 to 26 October 2021
Inventories, SBT shares and VNG shares owned by
related parties
Woori Bank Viet Nam Limited - Ho Chi Minh
Branch
148,192,339,000
From 18 August 2021 to 22 December 2021 Bank deposits
Vietnam Technological And Commercial
Joint Stock Bank
143,221,952,282 From 21 November 2021 to 18 December 2021
SBT shares owned by related parties, held for trading
securities, bonds and bank deposits
BPCE IOM Bank - Ho Chi Minh Branch 136,587,746,085 From 4 August 2021 to 24 December 2021 Inventories and short-term trade receivables
Military Commercial Joint Stock Bank -
Khanh Hoa Branch
99,930,542,758 From 8 July 2021 to 19 October 2021 Bank deposits and inventories
Malayan Banking Berhard - Ho Chi Minh
Branch
87,480,121,341 From 1 July 2021 to 17 December 2021
Short-term trade receivables; inventories, guarantee
commitment from the Company and a subsidiary for all
debt obligations
B09-DN/HN
25. LOANS AND FINANCE LEASE OBLIGATIONS (CONTINUED)
25.1 Short-term loans from banks (continued)
Banks
Ending balance
Principal repayment term Descriptions of collaterals
VND
Malayan Banking Berhard - Ha Noi Branch 57,040,840,000 From 28 September 2021 to 22 October 2021 Short-term trade receivables and inventories
United Oversea Bank Limited 54,341,446,726 19 July 2021
Real estate at No. 2 Kaki Bukit Place, EunosTechpark,
Singapore 416180; the right to receive rental revenue
at the above Property; guarantee letters from related
parties and a subsidiary
Bank SinoPac - Ho Chi Minh City Branch 45,912,590,779 From 4 August 2021 to 17 December 2021 Unsecured
Shinhan Bank Vietnam - Ho Chi Minh
Branch
45,416,640,613 From 1 October 2021 to 15 October 2021 Unsecured
Lao Viet Joint Venture Bank - Attapeu
Branch
39,736,440,117 17 August 2017
Land use right of 3400 ha located in Laos, real estate
owned by a third party and machines and equipment
Ho Chi Minh City Development Joint Stock
Commercial Bank - Tay Ninh Branch
30,000,000,000 3 August 2021 Inventories
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Ninh Thuan Branch
24,279,817,946 31 July 2021 Machineries and equipment
TOTAL 5,350,173,669,340
In which:
in VND 4,675,568,056,258
in USD 35,368,415
Those short-term loans from banks are charged at market interest rate for nancing its working capital requirements.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
25.2 Loan from other party
Lender
Ending balance
Principal repayment term Purpose Descriptions of collaterals
VND USD
Dole Asia Holding PTE. LTD 36,051,208,518 1,559,983 24 September 2021
Financing its working capital
requirements
Unsecured
25.3 Long-term loans from banks
Banks
Ending balance
Principal repayment term Purpose
Descriptions of collaterals
VND
Joint Stock Commercial Bank for
Investment and Development of
Vietnam - Binh Dinh Branch
275,027,269,245
From 15 July 2021
to 21 April 2023
Purchase and construction
of xed assets
All constructions and equipment
system of sugar factory and
thermal power plants
Woori Bank Viet Nam Limited - Ho Chi
Minh Branch
250,000,000,000
From 30 September 2021
to 15 June 2023
Increasing working capital for
subsidiaries
Machineries and equipment; land
use right and construction on land
in Gia Lai Province
KEB Hana Bank 150,000,000,000
From 30 September 2021
to 15 June 2023
Daegu Bank - Ho Chi Minh Branch 100,000,000,000
From 28 March 2022
to 15 June 2043
Increasing share capital for
subsidiaries
Machineries and equipment; land
use right and construction on land
in Gia Lai Province
Orient Commercial Joint Stock Bank -
Dak Lak Branch
98,364,994,315
From 25 September 2020
to 4 March 2028
Financing for its working capital
Machineries and equipments
funded from the loan, entire Solar
Energy System project at land lot
No 30, Tan Hung Commune, Tan
Chau District, Tay Ninh Province,
property rights and land use right
arising from the sublease contract
of land use rights with Thanh
Thanh Cong Industrial Zone JSC
Malayan Banking Berhad 98,125,245,080
From 6 October 2025
to 5 October 2040
Purchasing xed assets
and export bill of exchange
Real estate at No. 2 Kaki Bukit
Place, Eunos Techpark, Singapore
416180; right to receive rental
income arised from the loan in
the future; deed of Guarantee and
Indemnity from related parties and
a subsidiary
B09-DN/HN
25. LOANS AND FINANCE LEASE OBLIGATIONS (CONTINUED)
25.3 Long-term loans from banks (continued)
Banks
Ending balance
Principal repayment term Purpose
Descriptions of collaterals
VND
Oversea-Chinese Banking Corporation 61,978,133,688
From 22 October 2019
to 31 December 2040
Renancing existing loans and
purchasing export bill of exchange
and
Real estate at No. 60 Paya Lebar
Road #10-51/52, Paya Lebar Square,
Singapore; right to receive rental
income arisen from the loan in the
future; bank deposits and personal
guarantee from third party
Military Commercial Joint Stock Bank -
Dong Sai Gon Branch
30,055,404,735
From 25 August 2021
to 17 November 2022
Purchase and construction
of xed assets
Machineries and equipment funded
from the loan
Orient Commercial Joint Stock Bank - Pleiku
Branch
8,800,000,000
From 25 July 2021
to 25 June 2028
Machineries and equipment funded
from the loan and rights emerged from
trading electricity contract with EVN
Vietnam Joint Stock Commercial Bank for
Industry and Trade -Gia Lai Branch
453,000,000
From 21 August 2021
to 25 August 2022
Agricultural machineries and
equipment funded from the loan and
land use right in Tay Ninh Province
TOTAL 1,072,804,047,063
In which:
Current portion 244,656,180,676
Non-current portion 828,147,866,387
VND 637,673,399,043
USD 19,554,427
The Group obtained long-term loans from banks at the market interest rate for the purpose of nancing its working capital.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
25.4 Long-term bonds
Ending balance
Principal repayment term
Interest
Purpose
VND (%/year)
Issued at par value
Vietnam Technological and Commercial
Joint Stock Bank (i)
1,200,000,000,000 13 April 2024 3.3% + reference interest rate
1
Financing for working capital
700,000,000,000
From 26 January 2022
to 26 January 2024
3.875% + reference interest rate
1
Financing for working capital
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Binh Dinh Branch (ii)
383,040,000,000
From 23 June 2021
to 23 June 2023
8.78
Investing in project to develop sugar
industrial zone and material plating area
located at Attapeu Province, The Lao
People’s Democratic Republic through
the acquisition of shares in a subsidiary
Vietnam Joint Stock Commercial Bank for
Industry and Trade - Ho Chi Minh Branch
(iii)
360,000,000,000
From 30 September 2021
to 30 September 2025
8.95 Financing for working capital
Joint Stock Commercial Bank for
Investment and Development of Vietnam -
Gia Dinh Branch (ii)
255,360,000,000
From 23 June 2021
to 23 June 2023
9.7 - 9.95
Investing in project to develop sugar
industrial zone and material plating area
located at Attapeu Province, The Lao
People’s Democratic Republic through
the acquisition of shares in a subsidiary
Issuance fee (49,658,738,572)
2,848,741,261,428
In which:
Current portion 390,290,466,660
Non-current portion 2,458,450,794,768
B09-DN/HN
25. LOANS AND FINANCE LEASE OBLIGATIONS (CONTINUED)
25.4 Long-term bonds (continued)
(i) Collateral
- Held for trading securities and related rights, benets and property rights arisen from these securities owned by the
Company and its subsidiaries;
- All of land use rights and associated assets, real estates and all rights and obligations emerging from TTC Plaza Tay Ninh
Project;
- All of land use rights and associated assets, real estates and all rights and obligations emerging from Tay Ninh Sugar Factory
for 320,000 m
2
located at Tan Hung Ward, Tan Chau District, Tay Ninh Province under the Certicates of Land Use Rights
issued by the Chairman of the People’s Committee of Tay Ninh Province on 19 June 2013 and the Director of the Department
of Natural Resources and Environment of Tay Ninh Province on 28 June 2016; and
- All of land use rights and associated assets of land area owned by the Company for 338,000 m
2
located at Thai Binh Ward,
Chau Thanh District, Tay Ninh Province under the Certicates of Land Use Rights No. M 087354 issued by the Chairman of
the People’s Committee of Tay Ninh Province on 23 November 2000.
(ii) Collateral
- Land lease rights of 2.825,9 hectare land area located at Phu Vong District, Attapeu Province, Laos and associated assets,
real estates and all rights and obligations emerging from those assets owned by TTC Attapeu Sugar Cane Sole Co., Ltd.;
construction, machineries in use at farm sites, sugar manufacturing plant, thermal power plant and microbiological fertilizer
manufacturing plant; and ownership and entitlement to indemnity for incidents arising under insurance policies for those
assets; and
- Capital contributed by the Company into subsidiaries.
(iii) Collateral
Debt collection rights arising in future; land use right and machineries; bonds and Guarantee commitment issued by
related parties.
25.5 Finance leases
The Group currently has leased machineries and equipment under nance lease agreements with Asia Commercial Bank Leasing
Company Limited and Vietnam International Leasing Company. Future obligations due under nance lease agreements as at the
balance sheet dates were as follows:
VND
Less than 1 year From 1 - 5 years More than 5 years Total
Ending balance
Total minimum lease payments 28,317,504,556 63,438,661,013 - 91,756,165,569
Finance charges 5,572,009,559 7,804,163,720 - 13,376,173,279
Lease liabilities 22,745,494,997 55,634,497,293 - 78,379,992,290
Beginning balance
Total minimum lease payments 23,704,618,103 52,236,577,937 4,370,361,114 80,311,557,154
Finance charges 5,057,948,367 10,054,589,602 144,527,796 15,257,065,765
Lease liabilities 18,646,669,736 42,181,988,335 4,225,833,318 65,054,491,389
TTC BIEN HOA
2020-2021 ANNUAL REPORT
26. CONVERTIBLE BONDS
On 29 June 2020, the Company completed the issuance of 172 convertible bonds with par value of 1 billion VND per bond to Cape
Yeollim Coretrend Global Fund. The above transaction at total amount of VND 172 billion was approved by the the Shareholders’
Resolution No. 01/2019/NQ-DHDCD dated 3 September 2020 and the Resolution by the Board of Directors No. 28/2020/NQ-
HDQT dated 17 June 2020.
Main terms and conditions of the convertible bonds are as follows:
- Convertible bond held term of three (3) years.
- Convertible bond shall be entitled at any time after one (1) year since the issuance date to convert into fully paid ordinary
shares based on the agreed conversion price, but meet the yield-to-maturity rate of 6.5% per annum.
- The Company has obligations to pay interest expense at rate of 3.5% per annum each six months.
Details of the convertible bond are as follows:
VND
Current year
Value of convertible bond 172,000,000,000
Issuance fee (6,039,684,983)
Equity component (Note 28.1) (13,666,133,635)
Liability component at initial recognition 152,294,181,382
Plus: Accumulated discount allocation
Beginning balance -
Allocation during the period 7,209,708,312
Ending balance 7,209,708,312
Liability component at end of year 159,503,889,694
27. UNEARNED REVENUE
Unearned revenue represents one-time payment received from customers for leasing the premises in TTC Plaza Tay Ninh located
at No. 217 - 219, 30/04 Street, Tay Ninh City, Tay Ninh Province, Vietnam and premises in oce building at No. 60 Paya Lebar Road,
Paya Lebar Square, Singapore and related services.
B09-DN/HN
28. OWNERS’ EQUITY
28.1 Increase and decrease in owners’ equity
Share capital
VND
Common
shares
Preference
shares (*)
Share
premium
Convertible
bond
options
Other funds
belonging
to owner’s
equity (i)
Treasury
shares
Foreign
exchange
difference
reserve
Investment
and
development
fund
Undistributed
earnings
Non -
controlling
interest
Total
Previous year
Beginning balance
5,867,405,520,000 - 6,243,045,915,565 - (5,502,116,030,924) (1,099,985,561,092) (44,001,327,529) 124,701,077,143 181,120,487,767 48,422,081,018 5,818,592,161,948
Issuance of shares (*)
- 216,113,330,000 432,226,670,000 - - - - - - - 648,340,000,000
Re-issuance of treasury
shares
- - 37,579,758,974 - - 1,099,985,561,092 - - - - 1,137,565,320,066
Issuance of convertible
bonds (Note 26)
- - - 13,666,133,635 13,666,133,635
Impact from business
combination
- - - - - - - - (25,670,456,209) 115,375,533,741 89,705,077,532
Disposal of subsidiary
- - - - - - - - - (151,822,677) (151,822,677)
Net prot for the year
- - - - - - - - 364,259,001,778 (1,339,185,146) 362,919,816,632
Conversion of nancial
statements of foreign
operation
- - - - - - (83,040,114,420) - - - (83,040,114,420)
Transfer to bonus and
welfare fund
- - - - - - - - (27,782,618,368) - (27,782,618,368)
Prot appropriation
- - - - - - - 17,202,026,560 (17,202,026,560) - -
Dividend
- - - - - - - (124,701,077,143) (192,799,880,558) - (317,500,957,701)
Ending balance
5,867,405,520,000 216,113,330,000 6,712,852,344,539 13,666,133,635 (5,502,116,030,924) - (127,041,441,949) 17,202,026,560 281,924,507,850 162,306,606,936 7,642,312,996,647
(i) This is a reserve within equity incurred from business combination transactions of under common control companies (Note 3.11).
TTC BIEN HOA
2020-2021 ANNUAL REPORT
28. OWNERS’ EQUITY (CONTINUED)
28.1 Increase and decrease in owners’ equity (continued)
Share capital
VND
Common
shares
Preference
shares (*)
Share
premium
Convertible
bond options
Other funds
belonging to
owner’s equity
(i)
Foreign
exchange
difference
reserve
Investment
and
development
fund
Undistributed
earnings
Non -
controlling
interest
Total
Current year
Beginning balance
5,867,405,520,000 216,113,330,000 6,712,852,344,539 13,666,133,635 (5,502,116,030,924) (127,041,441,949) 17,202,026,560 281,924,507,850 162,306,606,936
7,642,312,996,647
Issuance of shares (i)
304,175,950,000 - - - - - - - -
304,175,950,000
Additional increase in
ownership of subsidiary
- - - - - - - (15,403,597,984) (112,351,429,416)
(127,755,027,400)
Net prot for the year
- - - - - - - 645,041,044,359 5,327,410,706
650,368,455,065
Conversion of nancial
statements of foreign
operation
- - - - - (162,236,373,506) - - -
(162,236,373,506)
Transfer to bonus and
welfare fund
- - - - - - - (16,900,100,000) -
(16,900,100,000)
Utilization
- - - - - - (608,973,459) - -
(608,973,459)
Preferences dividend
(Note 28.2) (ii)
- - - - - - - (51,050,114,190) -
(51,050,114,190)
Ending balance
6,171,581,470,000 216,113,330,000 6,712,852,344,539 13,666,133,635 (5,502,116,030,924) (289,277,815,455) 16,593,053,101 843,611,740,035 55,282,588,226
8,238,306,813,157
(i) This is a reserve within equity incurred from business combination transactions of under common control companies (Note 3.11).
(*) On 23 September 2019, the Group completed the issuance of 21,611,333 convertible dividend preference shares at VND 30,000 per share, in accordance with Shareholders’
Resolution No. 01/2018/NQ-DHDCD dated 17 October 2018. On 28 October 2019, the Group received the ninth amendment of BRC from the Planning and Investment
Department of Tay Ninh Province approving the increase of share capital to VND 6,083,518,850,000.
Main terms and conditions of the convertible dividend preference shares (“preference shares”) are as follows:
- Preference shares will not carry any voting rights.
- Preference dividend period and preference dividend rate are on negotiation, and must be paid prior to declaration of dividend or distribution in respect of ordinary shares.
- Each holder of preference shares shall be entitled at any time to convert all or any of the preference shares into fully paid ordinary shares based on the agreed conversion
price, but not higher than VND 38,000 per share.
(i) On 28 December 2020, the Company completed the issuance of 30,417,595 new ordinary shares in accordance with the Employee Stock Ownership Plan program at price of VND
10,000 per share to its employees. The issuance was conducted in accordance with the approved Shareholders’ Resolution No. 09/2019/NQ-ĐHĐCĐ dated 14 October 2019 and the
Board of Directors’ Resolutions No. 60/2020/NQ-HĐQT dated 19 October 2020. Accordingly, the Company’s registered share capital has been increased to VND 6,387,694,800,000. On 30
December 2020, the Company’s increase of share capital was approved by the Department of Planning and Investment of Tay Ninh Province through the issuance of the 10th amended
Enterprise Registration Certicate.
B09-DN/HN
28. OWNERS’ EQUITY (CONTINUED)
28.2 Capital transactions with owners and distribution of dividends
VND
Current year Previous year
Issued contributed share capital
Beginning balance 6,083,518,850,000 5,867,405,520,000
Increase during the year (i) 304,175,950,000 216,113,330,000
Ending balance 6,387,694,800,000 6,083,518,850,000
Dividends declared (ii) 51,050,114,190 317,500,957,701
Dividends on ordinary shares
Dividends declared in cash - 293,370,276,000
Dividends on preference shares 51,050,114,190 24,130,681,701
Dividends paid in cash 328,922,878,030 214,065,647,645
Dividends on ordinary shares 293,264,178,030 204,003,055,590
Dividends on preference shares 35,658,700,000 10,062,592,055
(i) On 14 October 2019, Shareholders Committee approved Shareholders’ Resolution No. 09/2019/NQ-DHDCD for issuing the
share of Employee Stock Ownership Plan.
On 19 October 2020, the Board of Directors approved the Resolution No. 60/2020/NQ.HDQT to implement the issuance of
new shares as per Employee Stock Ownership Plan. Accordingly, the Company completed the issuance of 30,417,595 shares
at VND 10,000 per share to employees on 22 December 2020.
(ii) The Company declared the dividends for convertible preference shares with total value of VND 51,050,114,190, in which an
amount of VND 35,658,700,000 has been paid in accordance with the Resolution approved by the Board of Directors No.
80/2020/NQ.HDQT dated 10 November 2020.
In addition, the General Shareholders’ Resolution No. 05/2020/NQ-DHDCD dated 28 October 2020 announced the plan of
dividend distribution at the rate of 5% (with the total amount of VND 308,579,070,000 in the form of cash and/or stocks from
investment and development fund, undistributed earnings and share premium as at 30 June 2020. As at the date of these
consolidated nancial statements, the nal decision of dividend payment method has not been approved. Therefore, the
Group has not recognised this transaction.
28.3 Shareholders
Ending balance Beginning balance
Number of
ordinary
shares
Number of
preference
shares
%
interest
Number of
ordinary
shares
Number of
preference
shares
%
interest
Thanh Thanh Cong
Investment Joint Stock
Company
168,021,963 - 26.31 168,021,963 - 27.62
Deutsche
Investitions-und
Entwicklungsgesellschaft
(DEG)
- 21,611,333 3.38 - 21,611,333 3.55
Others 449,136,184 - 70.31 418,718,589 - 68.83
TOTAL 617,158,147 21,611,333 100.00 586,740,552 21,611,333 100.00
TTC BIEN HOA
2020-2021 ANNUAL REPORT
28.4 Shares
Number of shares
Ending balance Beginning balance
Authorised shares 638,769,480 608,351,885
Shares issued and fully paid
Ordinary shares 617,158,147 586,740,552
Preference shares 21,611,333 21,611,333
Shares in circulation
Ordinary shares 617,158,147 586,740,552
Preference shares 21,611,333 21,611,333
The par value of each outstanding share: VND 10,000/share (as at 30 June 2020: VND 10,000/share).
28.5 Earnings per share
The Group of Companies uses the following information to calculate basic prot
Current year
Previous year
(Restated)
Net prot for the year attributable to the Company’s
shareholders (VND)
645,041,044,359 364,259,001,778
Distribution to bonus and welfare fund (*) (32,252,052,218) (36,553,374,222)
Dividend of dividend preference shares attached with
convertible rights (Note 28.2)
(51,050,114,190) (24,130,681,701)
Net prot attributable to ordinary shareholders before
adjusting for the eect of dilution
561,738,877,951 303,574,945,855
Adjustment due to convertible preferences shares - -
Net prot attributable to ordinary shareholders after
adjusting for the eect of dilution
561,738,877,951 303,574,945,855
Weighted average number of ordinary shares for basic
earnings per share
602,657,704 571,829,119
Increase of weight average number of shares due to eect
of dilution caused by potential convertible preference shares
(Note 26)
17,061,579 13,565,699
Weighted average number of ordinary shares adjusted for the
eect of dilution
619,719,283 585,394,818
Basic earnings per share
(VND/share)
932 531
Diluted earnings per share
(VND/share)
906 519
(*) Net prot used to compute earnings per share for the year ended 30 June 2020 was restated following the actual distribution
to Bonus and welfare fund appropriated from scal year ended 2020’s undistributed earnings as approved in the Resolution
of Annual Shareholders Meeting No. 03/2019/NQ-DHDCD dated 14 October 2020.
The bonus and welfare fund is expected to be appropriated of net prot for the year in accordance with the Resolution of
Annual Shareholder Meeting No. 04/2019/NQ-DHDCD dated 14 October 2020.
B09-DN/HN
29. REVENUES
29.1 Revenues from sale of goods and rendering of services
VND
Current year Previous year
Gross revenue 14,940,490,283,184 12,923,457,051,438
In which:
Sale of sugar 14,138,248,548,396 12,025,739,829,084
Sale of molasses 276,298,272,473 311,464,944,384
Sale of electricity 188,750,827,334 167,044,939,026
Sale of fertilizer 103,294,868,961 66,621,313,725
Rendering of rental services (Note 16) 33,659,573,805 30,213,621,672
Other 200,238,192,215 322,372,403,547
Less (15,622,657,469) (34,774,449,661)
Sales allowances (479,001,963) (18,488,866,776)
Trade discounts (9,372,724,102) (9,295,490,818)
Sales returns (5,770,931,404) (6,990,092,067)
Net revenues 14,924,867,625,715 12,888,682,601,777
In which:
Sale of sugar 14,124,598,036,995 12,002,669,165,517
Sale of molasses 276,298,272,473 311,464,944,384
Sale of electricity 188,750,157,059 167,044,939,026
Sale of fertilizer 103,154,968,961 66,321,313,725
Rendering of rental services (Note 16) 33,659,573,805 30,213,621,672
Other 198,406,616,422 310,968,617,453
In which:
Sales to other parties 14,133,677,892,931 11,740,174,658,094
Sales to related parties 791,189,732,784 1,148,507,943,683
29.2 Finance income
VND
Current year Previous year
Interest income from bank deposit, lending and advance to
suppliers
285,234,531,780 213,709,910,660
Gains from future contract 172,584,284,080 -
Gains from transfer of trading securities 18,613,255,437 28,901,351,795
Foreign exchange gains 17,706,251,186 9,802,111,661
Income from increase in fair value of other long-term
investment (Note 18.2)
- 33,844,721,573
Gains from disposal of investments 3,430,479,493 139,409,184,262
Dividends income 645,050,560 1,039,573,565
Gains from transfer shares purchasing rights - 269,800,000,000
Others 363,061,273 33,694,812,019
TOTAL 498,576,913,809 730,201,665,535
TTC BIEN HOA
2020-2021 ANNUAL REPORT
30. COST OF GOODS SOLD AND SERVICES RENDERED
VND
Current year Previous year
Cost of sugar 12,063,629,882,732 10,663,152,692,920
Cost of molasses 222,734,613,120 273,126,755,215
Cost of electricity 168,085,121,935 151,801,009,825
Cost of fertilizer 95,124,759,693 56,674,950,234
Cost of rental services 14,264,322,421 16,566,455,776
Others 145,104,457,303 272,819,951,608
TOTAL 12,708,943,157,204 11,434,141,815,578
31. FINANCE EXPENSES
VND
Current year Previous year
Interest expense 691,890,712,661 685,620,883,846
Foreign exchange losses 105,693,068,446 78,639,371,507
Provision for diminution in investments 30,065,925,074 44,273,444,227
Payment discount and advanced interest 3,824,067,190 2,064,059,832
Losses from decrease in fair value of 10,287,870,760 18,463,831,249
the investment (Note 18.2) 11,240,393,680 24,804,293,315
TOTAL 853,002,037,811 853,865,883,976
32. SELLING EXPENSES AND GENERAL AND ADMINISTRATIVE EXPENSES
VND
Current year Previous year
Selling expenses
Transportation expense 170,096,258,152 110,629,430,355
Expenses for external services 142,924,498,445 175,563,959,584
Labour cost 106,188,916,575 68,377,867,633
Sales supporting fee 50,718,133,188 65,089,742,479
Depreciation and amortisation 4,153,589,700 5,944,527,846
Others 57,960,254,744 20,480,776,101
532,041,650,804 446,086,303,998
General and administrative expenses
Labour costs 276,029,112,825 215,524,076,235
Expenses for external services 108,711,203,496 112,638,873,942
Provision (reversal of provision) 71,957,127,528 (7,286,532,703)
Depreciation and amortisation 20,676,796,858 21,998,736,882
Goodwill (Note 19) 20,530,756,768 20,174,973,548
Other expenses 63,148,557,526 18,515,852,475
TOTAL 561,053,555,001 381,565,980,379
B09-DN/HN
33. PRODUCTION AND OPERATING COSTS
VND
Current year Previous year
Raw materials and merchandise goods 11,863,729,539,177 9,869,635,823,750
Labour costs 539,894,863,298 624,009,110,280
Expenses for external services 549,174,863,298 842,524,470,761
Depreciation and amortisation 454,273,798,191 465,220,919,767
Other expenses 405,825,295,742 461,131,716,940
TOTAL 13,812,898,359,706 12,262,522,041,498
34. OTHER INCOME AND EXPENSES
VND
Current year Previous year
Other income 47,695,259,333 48,566,222,616
Income from leasing activities 15,951,868,714 14,112,618,863
Gains from disposal of xed assets 6,462,978,972 17,786,059,812
Penalties received 3,449,635,610 3,958,467,252
Others 21,830,776,037 12,709,076,689
Other expenses 55,465,608,618 58,167,071,012
Depreciation of idle assets 36,655,768,719 33,261,254,275
Penalties 1,876,932,301 2,366,375,202
Loss from disposal of assets - 1,519,980,348
Others 16,932,907,598 21,019,461,187
OTHER LOSS (7,770,349,285) (9,600,848,396)
35. CORPORATE INCOME TAX
The statutory corporate income tax (“CIT”) rate applicable to the Company is 10% of taxable prots. The Company is entitled to
an exemption from CIT in regards to taxable prots generated from manufacturing sugar from sugar-cane commencing from 1
January 2015 in accordance with Circular No. 96/2015/TT-BTC issued by the Ministry of Finance dated 22 June 2015.
The Company’s subsidiaries have the obligations to pay CIT at the rates ranging from 10% to the normal applicable rate of their
respective taxable prots their respective taxable prots. They are also entitled to CIT exemption and reduction in accordance with
their respective enterprise registration certicates and applicable tax regulations
The tax returns led by Group are subject to examination by the tax authorities. As the application of tax laws and regulations is
susceptible to varying interpretations, the amounts reported in the consolidated nancial statements could change at a later date
upon nal determination by the tax authorities.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
35.1 CIT expense
VND
Current year Previous year
Current CIT expense 172,530,992,738 149,640,481,050
Adjustment for over accrual of tax from prior years (*) (20,954,214,481) (12,919,883,217)
151,576,778,257 136,720,597,833
Deferred tax expenses (18,345,283,288) 12,719,302,684
TOTAL 133,231,494,969 149,439,900,517
(*)
This mainly represented a decrease adjustment due to the change in the calculation of deductible interest expenses in
accordance with the Decree No. 68/2020/ND-CP dated 24 June 2020 providing amendments to clause 3 article 8 of the
Government’s Decree No. 20/2017/ND-CP dated 24 February 2017.
Reconciliation between CIT expense and the accounting prot multiplied by CIT rate is presented below:
VND
Current year Previous year
Accounting prot before tax 783,599,950,034 512,359,717,149
At applicable CIT rates 165,781,892,928 95,087,294,944
Adjustments:
Non-deductible expenses 14,107,889,311 8,555,241,003
Unrealized loss 11,952,602,289 9,141,239,766
Amortisation of goodwill 4,106,151,348 4,034,994,710
Adjustment for over accrual of tax from prior years (4,428,380,483) (12,919,883,217)
Adjustment related to Decree No. 132/2020/ND-CP (*) (16,525,833,998) -
Tax loss carried forward - 43,101,174,904
Gains of change in ownership interest of investments 442,471,931 6,768,944,315
Dividends income (6,884,596,780) 3,124,885,287
Share of prot in associates (4,593,232,123) (3,747,256,433)
Tax exemption (26,666,390,565) (12,285,807,893)
Others (4,061,078,889) 8,579,073,131
CIT expenses 133,231,494,969 149,439,900,517
(*) In accordance with the Decree No. 132/2020/ND- CP dated 5 November 2020 prescribing tax administration for enterprises
having related-party transactions issued by the Government, CIT expense was decreased by VND 16,525,833,998.
B09-DN/HN
35. CORPORATE INCOME TAX (CONTINUED)
35.2 Current CIT
The current tax payable is based on taxable income for the current year. The taxable income of the Group for the year diers from
the prot as reported in the consolidated income statement because it excludes items of income or expense that are taxable or
deductible in other years and it further excludes items that are not taxable or deductible. The Group’s liability for current tax is
calculated using tax rates that have been enacted by the balance sheet date.
35.3 Deferred tax
The following is the deferred tax asset recognised by the Group, and the movement thereon, during the current and previous year:
VND
Consolidated balance sheet Consolidated income statement
Ending balance Beginning balance Current year Previous year
Deferred tax asset
Unrealised prots 19,800,778,791 5,398,717,540 14,402,061,251 3,858,574,853
Accrued expenses 2,313,190,831 3,928,835,639 (1,615,644,808) (3,472,111,639)
Decrease in fair value of
long-term investment
2,481,524,975 - 2,481,524,975 -
Provision for obsolete
inventories
1,187,056,116 744,722,452 442,333,664 744,722,452
Foreign exchange
dierence
285,044,513 - 285,044,513 -
TOTAL 26,067,595,226 10,072,275,631
Deferred tax liabilities
Surplus fair value of
net assets acquired in
business combination
97,990,990,531 102,052,069,420 4,061,078,889 2,079,800,420
Gains in fair value of long-
term investments
8,080,288,423 7,656,337,600 (423,950,823) (7,656,337,600)
Provisions for long-term
investments
9,887,127,880 7,196,958,856 (2,690,169,024) (6,455,742,522)
Provisions for doubtful
receivables
415,203,997 1,818,208,648 1,403,004,651 (1,818,208,648)
TOTAL 116,373,610,831 118,723,574,524
Deferred tax income
(expenses)
18,345,283,288 (12,719,302,684)
TTC BIEN HOA
2020-2021 ANNUAL REPORT
36. TRANSACTIONS WITH RELATED PARTIES
Terms and conditions of transactions with related parties:
The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm’s length transactions.
Outstanding balances at 30 June 2021 are unsecured, interest free and will be settled in cash. For the scal year ended 30 June
2021, the Group has not made any provision for doubtful debts relating to amounts owed by related parties (30 June 2020: 0 VND).
This assessment is undertaken each nancial year through the examination of the nancial position of the related party and the
market in which the related party operates.
Signicant transactions with related parties including entities within Thanh Thanh Cong Group (“aliates”) and other related
parties during the current and previous year were as follows:
VND
Related parties Relationship Transactions Current year Previous year
Thanh Thanh Cong
Investment Joint Stock
Company
Major shareholder
Sale of goods 288,413,182,415 324,763,879,636
Purchase of goods 170,187,324,618 170,489,979,071
Dividend paid 84,010,981,500 -
Interest income 10,926,412,720 17,832,584,470
Purchase of services 13,817,493,504 13,496,149,845
Thanh Thanh Cong Trading
Joint Stock Company
Common owner
Sale of goods 379,461,517,215 194,956,690,775
Purchase of goods 7,791,693,911 74,533,169,087
Purchase of services 55,275,295,314 63,705,337,782
Interest income 26,601,908,886 28,440,810,763
Ms Huynh Bich Ngoc Chairwoman
Dividend paid 33,775,932,000 -
Purchase of shares - 350,910,400,000
Ben Tre Import Export Joint
Stock Company
Shareholder
Sale of goods 227,671,500,000 248,547,553,638
Purchasing share 14,730,217,500 150,000,000,000
Purchase of goods 19,038,901,883 5,316,019,238
Ms Dang Huynh Uc My Vice Chairwoman Dividend paid 49,197,413,000 -
Deutsche Investitions-und
Entwicklungsgesellschaft
(“DEG”)
Shareholder
Declared dividend 51,050,114,190 24,212,498,159
Dividend paid 35,658,700,000 10,062,592,055
Thanh Thanh Cong Packing
- Trading - Production Joint
Stock Company
Aliate
Purchase of goods 21,451,132,180 26,308,068,790
Purchase of materials 36,484,976,706 28,463,521,816
Gia Lai Electricity Joint Stock
Company
Aliate Interest income - 28,901,351,795
Tadimex Associate
Sale of goods 33,650,552,300 -
Purchase of goods 31,181,177,123 -
Dang Huynh Company Aliate
Dividend paid 3,430,000,000 -
Render of services 1,686,328,974 -
Purchase of services 902,357,652 2,669,750,322
B09-DN/HN
36. TRANSACTIONS WITH RELATED PATIES (CONTINUED)
Signicant transactions with related parties including aliates and other related parties during the current and previous year were
as follows: (continued)
Transactions with other related parties
Remuneration to members of the Board of Directors and Management:
VND
Current year Previous year
Salaries and bonus 25,577,782,959 9,783,121,638
Amounts due from and due to related parties at the balance sheet date were as follows:
VND
Related parties Relationship Transactions Ending balance Beginning balance
Short-term trade receivables
Thanh Thanh Cong
Investment Joint Stock
Company
Major shareholder Sale of goods 8,500,000,000 57,330,474,358
Sai Gon Thuong Tin Real
Estate Joint Stock Company
Common owner Sale of goods 3,691,050,885 -
Thanh Thanh Cong Trading
Joint Stock Company
Common owner Sale of goods 123,938,710 24,369,171,300
Dang Huynh Company Aliate Sale of asset 220,253,510 370,253,510
Other related parties Related party 2,509,562,222 1,479,885,844
TOTAL 15,044,805,327 83,549,785,012
Short-term advances to suppliers (*)
Thanh Thanh Cong Trading
Joint Stock Company
Common owner Purchase of goods 266,386,078,717 315,703,360,000
Thanh Thanh Cong Industrial
Zones Joint Stock Company
Aliate Land rental - 110,261,990,683
Thanh Thanh Cong
Investment Joint Stock
Company
Major shareholder Purchase of goods 83,575,000,000 96,439,737,590
Thanh Thanh Cong Packaging
Trading - Production Joint
Stock Company
Aliate Purchase of materials 2,550,762,915 2,859,351,385
Ben Tre Import and Export
Joint Stock Company
Aliate Purchase of goods 205,330,440 1,218,816,223
TTC BIEN HOA
2020-2021 ANNUAL REPORT
Amounts due from and due to related parties at the balance sheet date were as follows:
VND
Related parties Relationship Transactions Ending balance Beginning balance
Short-term advances to suppliers (continued) (*)
Thanh Thanh Cong Tourist
Joint Stock Company
Common owner Purchase of services 3,660,710,000 160,710,000
Other related parties Related party Purchase of goods - 2,371,696,800
TOTAL 356,377,882,072 529,015,662,681
Other short-term receivables
Toan Hai Van Joint Stock
Company
Aliate
Deposit for land rental 673,000,000,000 673,000,000,000
Interest income 43,409,383,561 -
Thanh Thanh Cong Industrial
Zones Joint Stock Company
Aliate Đặt cọc thuê đất 522,000,000,000 522,000,000,000
Thanh Thanh Cong Trading
Joint Stock Company
Common owner Deposit for land rental 42,338,404,837 15,861,211,951
Thanh Thanh Cong
Investment Joint Stock
Company
Major shareholder
Interest income 5,076,327,529 4,237,882,945
Interest income 13,604,756,243 -
Other related parties Related party 2,806,854,368 3,896,210,321
TOTAL 1,302,235,726,538 1,218,995,305,217
Short-term trade payables
Thanh Thanh Cong
Investment Joint Stock
Company
Major shareholder Purchase of services 52,974,896,420 100,343,608,911
Thanh Thanh Cong Trading
Joint Stock Company
Common owner Purchase of goods 1,720,650,050 3,953,924,624
Thanh Thanh Cong Packaging
Trading - Production Joint
Stock Company
Aliate Purchase of materials 4,696,844,807 2,677,389,714
Ben Tre Import and Export
Joint Stock Company
Aliate Purchase of goods 5,256,525,500 25,200,001
Other related parties Related party Purchase of goods 349,789,823 391,233,177
TOTAL 64,998,706,600 107,391,356,427
(*) Short-term advances to related parties earn interest at the rates ranging from 8.0% to 9.5% per annum.
B09-DN/HN
36. TRANSACTIONS WITH RELATED PARTIES (CONTINUED)
Amounts due from and due to related parties at the balance sheet date were as follows: (continued)
VND
Related parties Relationship Transactions Ending balance Beginning balance
Short-term advances from customers
Thanh Thanh Cong Trading
Joint Stock Company
Common owner Sale of goods 4,686,063,239 29,354,185,348
Tay Ninh Sugar Joint Stock
Company
Aliate Sale of goods 15,780,860,215 15,800,000,000
Other related parties Related party Sale of goods - 6,998,228
TOTAL 20,466,923,454 45,161,183,576
Other short-term payables
DEG Shareholder Dividend payable 29,459,503,856 14,068,089,646
Thanh Thanh Cong
Investment Joint Stock
Company
Major shareholder Dividend payable - 4,061,876,978
Thanh Thanh Cong Trading
Joint Stock Company
Common owner Purchase of services - 2,432,682,353
Tan Hoi Industrial Complex
Infrastructure Investment
Joint Stock Company
Aliate Interest expense - 1,159,068,495
Other related parties Related party 302,662,698 160,473,370
TOTAL 29,762,166,554 21,882,190,842
VND
Related parties Relationship Transactions Ending balance Beginning balance
Short-term loans (*)
TTC Energy Joint Stock
Company
Aliate Loan 5,607,095,901 33,000,000,000
Tan Hoi Industrial Complex
Infrastructure Investment
Joint Stock Company
Aliate Loan - 6,000,000,000
TOTAL 5,607,095,901 39,000,000,000
(*) This represented unsecured short-term loans with the interest rate ranging from 6.5% per annum for nancing its working
capital requirements.
TTC BIEN HOA
2020-2021 ANNUAL REPORT
37. COMMITMENTS
Operating lease commitment
The Group leases oce and warehouses under operating lease arrangements. The future minimum lease commitment as at the
balance sheet dates under the operating lease agreements is as follows:
VND
Ending balance Beginning balance
Less than 1 year 34,390,971,615 31,319,372,040
From 1 - 5 years 91,178,007,900 72,850,102,018
More than 5 years 528,891,970,762 360,655,795,159
TOTAL 654,460,950,277 464,825,269,217
38. SEGMENT INFORMATION
The Group’s geographical segments are based on the location of the Group’s assets. Sales to external customers disclosed in
geographical segments are based on the geographical location of its customers.
The following tables present revenue, expenditure and certain asset information regarding the Group’s geographical segments:
VND
Domestic Foreign territories Elimination Total
For the year ended 30 June 2021
Revenue
Sales to external customers
11,023,311,361,222 3,901,556,264,493 - 14,924,867,625,715
Inter-segment sales
6,570,407,672,161 3,358,448,078,981 (9,928,855,751,142) -
Net revenue 17,593,719,033,383 7,260,004,343,474 (9,928,855,751,142) 14,924,867,625,715
Consolidation income
statement
Segment result 2,215,924,468,511
Unallocated expenses (916,115,776,694) (176,979,429,111) - (1,093,095,205,805)
Finance income 482,621,370,060 154,216,315,951 (138,260,772,202) 498,576,913,809
Finance expese (837,136,853,711) (148,179,826,007) 132,314,641,907 (853,002,037,811)
Share prot from associates 22,966,160,615
Other loss (7,770,349,285)
Operating prot 783,599,950,034
Current corporate income tax expense (151,576,778,257)
Deferred tax expense 18,345,283,288
Net prot after tax 650,368,455,065
B09-DN/HN
38. SEGMENT INFORMATION (CONTINUED)
The following tables present revenue and prot and certain assets and liability information regarding the Group’s business
segment
VND
Domestic Foreign territories Elimination Total
As at 30 June 2021
Segment’s assets
Cash and cash equivalents
1,494,391,521,431 328,905,592,251 - 1,823,297,113,682
Short-term investments
1,239,955,689,130 - - 1,239,955,689,130
Current accounts receivable
8,906,230,446,340 1,054,858,118,396 (3,741,629,125,320) 6,219,459,439,416
Inventories
2,748,327,500,949 651,810,228,640 (241,358,619,732) 3,158,779,109,857
Other current assets
116,689,711,220 19,149,450,654 - 135,839,161,874
Long-term receivables
1,357,519,116,275 - (1,222,608,461,768) 134,910,654,507
Fixed assets
2,634,290,378,581 1,288,182,317,976 - 3,922,472,696,557
Investment properties
388,963,627,386 188,914,509,609 - 577,878,136,995
Construction in progress
404,248,687,906 - - 404,248,687,906
Long-term investments
1,309,753,214,355 101,525,989,249 - 1,411,279,203,604
Other long-term assets
1,442,779,355,731
Total assets 20,470,899,249,259
Segment’s liabilities
Short-term trade payables
1,383,432,013,030 229,130,306,995 (1,122,570,003,425) 489,992,316,600
Short-term loans and nance
lease obligations
5,744,551,581,460 335,915,933,999 (30,943,399,367) 6,049,524,116,092
Long-term loans and nance
lease obligations
3,023,399,464,787 352,524,154,449 (33,690,460,788) 3,342,233,158,448
Unallocated liabilities
2,350,844,648,697
Total liabilities 12,232,594,239,837
TTC BIEN HOA
2020-2021 ANNUAL REPORT
The following tables present revenue, expenditure and certain asset information regarding the Group’s geographical segments:
VND
Domestic Foreign territories Elimination Total
For the year ended 30 June 2020
Revenue
Sales to external customers
11,439,218,367,116 1,449,464,234,661 - 12,888,682,601,777
Inter-segment sales
4,607,058,625,066 2,588,267,159,850 (7,195,325,784,916) -
Net revenue 15,891,130,396,973 4,192,877,989,720 (7,195,325,784,916) 12,888,682,601,777
Consolidation income statement
Segment result 1,450,679,138,934
Unallocated expenses (732,078,169,939) (95,574,114,438) (827,652,284,377)
Finance income 862,719,990,024 23,529,726,072 (156,048,050,561) 730,201,665,535
Finance expense (834,975,860,305) (168,584,365,695) 149,694,342,024 (853,865,883,976)
Share prot from associates 18,736,282,164
Other loss (9,600,848,396)
Operating prot 512,359,717,149
Current corporate income
tax expense
(136,720,597,833)
Deferred tax expense (12,719,302,684)
Net prot after tax 362,919,816,632
B09-DN/HN
38. SEGMENT INFORMATION (CONTINUED)
The following tables present revenue and prot and certain assets and liability information regarding the Group’s business
segment:
VND
Domestic Foreign territories Elimination Total
As at 30 June 2020
Segment’s assets
Cash and cash equivalents
766,857,430,069 232,763,231,443 - 999,620,661,512
Short-term investments
885,390,515,004 13,894,330,915 - 899,284,845,919
Current accounts receivable
7,123,699,700,430 903,829,489,641 (2,580,370,111,865) 5,447,159,078,206
Inventories
2,087,554,256,134 485,348,738,418 (43,556,337,493) 2,529,346,657,059
Other current assets
140,469,109,784 14,915,763,945 - 155,384,873,729
Long-term receivables
101,806,889,451 - - 101,806,889,451
Fixed assets
4,179,804,562,879
Investment properties
396,402,966,195 196,034,931,534 - 592,437,897,729
Construction in progress
341,526,808,768 - - 341,526,808,768
Long-term investments
1,146,703,883,985 98,901,203,915 - 1,245,605,087,900
Other long-term assets
1,463,741,420,760
Total assets 17,955,718,783,912
Segment’s liabilities
Short-term trade payables
1,246,372,342,440 535,012,127,366 (1,196,002,709,696) 585,381,760,110
Short-term loans and nance
lease obligations
7,309,673,574,901 278,218,706,847 (595,647,000,000) 6,992,245,281,748
Long-term loans and nance
lease obligations
1,247,321,341,435 390,882,597,083 (417,134,000,000) 1,221,069,938,518
Unallocated liabilities
1,514,720,443,126
Total liabilities 10,313,417,423,502
TTC BIEN HOA
2020-2021 ANNUAL REPORT
39. OFF BALANCE SHEET ITEMS
Ending balance Beginning balance
Goods held on consignment
- Sugar nished goods (tonne) 29,029 30,763
- Molasses (tonne) 9,520 14,675
- Raw sugar (tons) 8,017 -
- Good sugar (tons) 3,491 -
Foreign currencies
- LAK 131,003,933 1,664,336,467
- USD 3,537,055 10,205,815
- Bath 451 -
- EUR 250 250
- INR - 18,140
- AUD - 950
- GBP - 630
40. EVENTS AFTER THE BALANCE SHEET DATE
On 1 July 2021, the Board of Directors of the Company approved the Resolution No. 214/2021/NQ-HDQT in accordance with the
Resolution of Annual General Shareholders’ Meeting No. 01/2019/NQ-DHDCD for the conversion plan of all convertible bonds held
by Cape Yeollim Coretrend Global Fund into ordinary shares of the Company. Accordingly, the Company has issued 11,992,748
shares at par value of 10,000 VND/share for the conversion. Subsequently, on the Company also received the 11
th
amended
Enterprise Registration Certicate issued by the Department of Planning and Investment of Tay Ninh Province on 17 August 2021
regarding the increase of the share capital.
On 29 July 2021, the General Shareholders’ Meeting approved the Resolution No. 07/2021/NQ-DHDCD to execute the issuance
of shares as dividends at the ratio of 5% of the total issued voting shares. Subsequently, the Board of Directors also approved
the Resolution No. 243/2021/NQ-HĐQT dated 13 September 2021 to approve the share dividend plan with the expected
implementation time in Quarter IV of 2021.
There is no other matter or circumstance that has arisen since the balance sheet date that requires adjustment or disclosure in the
consolidated nancial statements of the Group.
Nguyen Thuy Trang
Preparer
Le Phat Tin
Chief Accountant
Nguyen Thanh Ngu
Chief Executive Ocer
28 September 2021
SEPARATE
FINANCIAL STATEMENTS
For the year ended 30 June 2021
SEPARATE
TOTAL ASSETS
21,611
BILLION VND
ACCOUNTING PROFIT
BEFORE TAX
337
BILLION VND
SEPARATE
NET PROFIT AFTER TAX
318
BILLION VND
TTC BIEN HOA
2020-2021 ANNUAL REPORT
VND
Code ASSETS Notes Ending balance Beginning balance
100 A. CURRENT ASSETS 7,249,523,418,000 5,188,684,452,600
110 I. Cash and cash equivalents 4 949,714,290,815 510,081,795,392
111 1. Cash 351,579,691,931 375,081,795,392
112 2. Cash equivalents 598,134,598,884 135,000,000,000
120 II. Short-term investments 546,044,526,130 195,241,515,004
121 1. Held-for-trading securities 5 297,147,689,996 49,283,965,426
122 2. Provision for diminution in value of held-for-trading securities 5 (12,295,622,496) (9,042,450,422)
123 3. Held-to-maturity investments 6 261,192,458,630 155,000,000,000
130 III. Current accounts receivable 4,176,401,712,048 3,395,471,753,145
131 1. Short-term trade receivables 7 1,100,949,322,998 811,658,108,303
132 2. Short-term advances to suppliers 8 1,901,795,681,995 1,495,579,321,218
135 3. Short-term loan receivables 34 72,650,000,000 112,610,000,000
136 4. Other short-term receivables 9 1,120,586,669,025 1,004,932,343,278
137 5. Provision for doubtful short-term receivables 7, 8, 9 (19,579,961,970) (29,308,019,654)
140 IV. Inventories 10 1,557,405,689,521 1,047,470,814,321
141 1. Inventories 1,569,276,250,678 1,054,918,038,845
149 2. Provision for obsolete inventories (11,870,561,157) (7,447,224,524)
150 V. Other current assets 19,957,199,486 40,418,574,738
151 1. Short-term prepaid expenses 11 1,670,398,983 31,429,677,963
152 2. Value-added tax deductible 20 9,297,903,728 -
153 3. Tax and other receivables from the State 20 8,988,896,775 8,988,896,775
200 B. NON-CURRENT ASSETS 14,361,895,569,189 13,454,247,972,698
210 I. Long-term receivables 278,173,212,921 248,947,958,662
211 1. Long-term trade receivables 7, 34 167,955,017,657 214,080,522,339
212 2. Long-term advances to suppliers 8 43,272,682,178 29,450,581,274
215 3. Long-term loan receivables 3,000,000,000 -
216 4. Other long-term receivables 9 63,945,513,086 5,416,855,049
220 II. Fixed assets 626,917,437,156 625,748,714,594
221 1. Tangible xed assets 12 553,242,807,125 562,615,651,339
222 Cost 2,287,673,080,497 2,247,315,596,811
223 Accumulated depreciation (1,734,430,273,372) (1,684,699,945,472)
224 2. Finance leases 13 25,894,599,092 10,463,017,867
225 Cost 29,193,828,784 11,587,378,400
226 Accumulated depreciation (3,299,229,692) (1,124,360,533)
227 3. Intangible xed assets 14 47,780,030,939 52,670,045,388
228 Cost 87,849,379,124 83,959,417,564
229 Accumulated amortisation (40,069,348,185) (31,289,372,176)
230 III. Investment properties 15 141,844,884,427 146,209,719,552
231 1. Cost 167,991,741,266 167,991,741,266
232 2. Accumulated depreciation (26,146,856,839) (21,782,021,714)
240 IV. Long-term asset in progress 92,724,400,421 58,023,905,975
242 1. Construction in progress 16 92,724,400,421 58,023,905,975
250 V. Long-term investments 17 13,018,203,755,685 12,206,888,633,367
251 1. Investments in subsidiaries 17.1 12,432,651,275,463 11,648,586,221,986
252 2. Investments in associates 17.2 360,341,700,000 391,920,900,000
253 3. Investments in other entities 17.3 237,123,614,444 182,414,414,444
254 4.
Provision for diminution in value of long-term
investments
17 (46,912,834,222) (26,032,903,063)
255 5. Held-to-maturity investments 17 35,000,000,000 10,000,000,000
260 VI. Other long-term assets 204,031,878,579 168,429,040,548
261 1. Long-term prepaid expenses 11 202,844,822,463 167,684,318,096
262 2. Deferred tax assets 33.3 1,187,056,116 744,722,452
270 TOTAL ASSETS 21,611,418,987,189 18,642,932,425,298
SEPARATE BALANCE SHEET
as at 30 June 2021
B01-DN
VND
Code ASSETS Notes Ending balance Beginning balance
300 C. LIABILITIES 7,588,792,004,872 5,176,725,984,391
310 I. Current liabilities 5,001,446,687,514 4,677,822,621,957
311 1. Short-term trade payables 18 195,250,887,194 656,475,478,588
312 2. Short-term advances from customers 19 539,668,517,012 38,340,501,212
313 3. Statutory obligations 20 12,546,729,557 72,720,107,420
314 4. Payables to employees 23,221,414,644 7,900,484,084
315 5. Short-term accrued expenses 21 167,551,875,836 63,462,274,673
318 6. Short-term unearned revenue 22 3,947,005,304 6,161,783,616
319 7. Other short-term payables 23 456,219,023,914 409,580,588,634
320 8. Short-term loans and nance lease 24 3,558,061,589,585 3,348,318,154,768
322 9. Bonus and welfare fund 3.16 44,979,644,468 74,863,248,962
330 II. Non-current liabilities 2,587,345,317,358 498,903,362,434
336 1. Long-term unearned revenue 22 20,646,244,834 5,200,098,480
337 2. Other long-term liability 23 5,978,252,320 6,026,471,782
338 3. Long-term loans and nance lease 24 2,396,979,968,260 335,382,610,790
339 4. Convertible bonds 25 159,503,889,694 152,294,181,382
342 5. Long-term provision 3.14 4,236,962,250 -
400 D. OWNERS’ EQUITY 26 14,022,626,982,317 13,466,206,440,907
410 I. Capital 14,022,626,982,317 13,466,206,440,907
411 1. Share capital 6,387,694,800,000 6,083,518,850,000
411a - Shares with voting rights 6,171,581,470,000 5,867,405,520,000
411b - Preference shares 216,113,330,000 216,113,330,000
412 2. Share premium 6,712,852,344,539 6,712,852,344,539
413 3. Convertible bonds option 25 13,666,133,635 13,666,133,635
421 4. Undistributed earnings 908,413,704,143 656,169,112,733
421a - Undistributed earnings up to the end of prior year 641,169,112,733 294,136,106,614
421b - Undistributed earnings of the year 267,244,591,410 362,033,006,119
440 TOTAL LIABILITIES AND OWNERS’ EQUITY 21,611,418,987,189 18,642,932,425,298
SEPARATE BALANCE SHEET (CONTINUED)
as at 30 June 2021
B01-DN
Nguyen Thuy Trang
Preparer
Le Phat Tin
Chief Accountant
Nguyen Thanh Ngu
Chief Executive Ocer
28 September 2021
TTC BIEN HOA
2020-2021 ANNUAL REPORT
VND
Code ITEMS Notes Current year Previous year
01 1. Revenue from sale of goods and rendering of services 27.1 7,885,850,302,340 6,653,210,041,390
02 2. Deductions 27.1 (4,582,660,199) (5,218,840,295)
10 3. Net revenue from sale of goods and rendering of services 27.1 7,881,267,642,141 6,647,991,201,095
11 4. Cost of goods sold and services rendered 28, 32 (6,988,956,738,996) (6,038,197,662,107)
20 5. Gross prot from sale of goods and rendering of services 892,310,903,145 609,793,538,988
21 6. Finance income 27.2 266,124,404,870 537,319,060,938
22 7. Finance expenses 29 (454,265,044,140) (377,013,740,975)
23 In which: Interest expense (403,689,252,429) (332,117,011,654)
25 8. Selling expenses 30, 32 (165,920,247,663) (149,764,440,458)
26 9. General and administrative expenses 30, 32 (213,847,774,551) (163,088,097,049)
30 10. Operating prot 324,402,241,661 457,246,321,444
31 11. Other income 31 24,423,824,953 17,285,326,566
32 12. Other expenses 31 (12,244,929,729) (10,792,761,994)
40 13. Other prot 31 12,178,895,224 6,492,564,572
50 14. Accounting prot before tax 336,581,136,885 463,738,886,016
51 15. Current corporate income tax expense 33.1 (18,728,764,949) (72,586,161,163)
52 16. Deferred tax income (expense) 33.3 442,333,664 (4,989,037,033)
60 17. Net prot after tax 318,294,705,600 386,163,687,820
SEPARATE INCOME STATEMENT
for the year ended 30 June 2021
B02-DN
Nguyen Thuy Trang
Preparer
Le Phat Tin
Chief Accountant
Nguyen Thanh Ngu
Chief Executive Ocer
28 September 2021
VND
Code ITEMS Notes Current year Previous year
I. CASH FLOWS FROM OPERATING ACTIVITIES
01 Prot before tax 336,581,136,885 463,738,886,016
Adjustments for:
02
Depreciation of tangible xed assets and investment
properties and amortisation of intangible xed assets
12, 14, 15 70,568,141,125 68,049,698,463
03 Provisions 18,828,382,182 19,079,495,690
04
Foreign exchange losses arisen from revaluation of
monetary accounts dominated in foreign currency
977,330,205 3,042,563,550
05 Prot from investing activities (256,993,892,883) (528,424,663,761)
06 Interest expense 29 403,689,252,429 332,117,011,654
08 Operating prot before changes in working capital 573,650,349,943 357,602,991,612
09 Increase in receivables (733,207,055,100) (182,010,806,969)
10 (Increase) decrease in inventories (514,358,211,833) 60,536,581,961
11 Increase in payables 426,213,909,034 447,590,500,184
12 (Increase) decrease in prepaid expenses (10,941,262,863) 25,682,353,793
13 Increase in held-for-trading securities (247,863,724,570) (49,268,942,926)
14 Interest paid (321,821,931,963) (346,563,526,727)
15 Corporate income tax paid 20 (76,100,215,437) (85,033,896,081)
17 Other cash outows for operating activities (44,883,604,494) (39,606,192,185)
20 Net cash ows (used in) from operating activities (949,311,747,283) 188,929,062,662
II. CASH FLOWS FROM INVESTING ACTIVITIES
21 Purchase and construction of xed assets (97,646,542,537) (177,312,745,535)
22 Proceeds from disposals of xed assets 24,844,740,387 27,296,816,020
23 Loans to other entities and term deposits (310,042,458,630) (2,672,898,400,000)
24 Collections from borrowers and term deposits 218,810,000,000 2,564,288,400,000
25 Payments for investments in other entities (808,317,553,477) (1,557,991,846,000)
26 Proceeds from sale of investments in other entities 1,122,500,000 766,193,037,208
27 Interest and dividends received 113,680,266,449 253,154,612,483
30 Net cash ows used in investing activities (857,549,047,808) (797,270,125,824)
SEPARATE CASH FLOW STATEMENT
for the year ended 30 June 2021
B03-DN
TTC BIEN HOA
2020-2021 ANNUAL REPORT
VND
Code ITEMS Notes Current year Previous year
III. CASH FLOWS FROM FINANCING ACTIVITIES
31 Capital contribution 26.1 304,175,950,000 1,785,905,320,066
33 Capital redemption 24 12,268,670,528,057 7,349,539,014,806
34 Drawdown of borrowings 24 (9,991,789,698,294) (8,078,988,173,500)
35 Payment of principal of nance lease liabilities 24 (5,540,037,476) (796,583,334)
36 Dividends paid 26.2 (328,922,878,030) (214,065,647,645)
40 Net cash ows from nancing activities 2,246,593,864,257 841,593,930,393
50 Net increase in cash and cash equivalents for the year 439,733,069,166 233,252,867,231
60 Cash at beginning of year 510,081,795,392 276,506,697,442
61 Impact of exchange rate uctuation (100,573,743) 322,230,719
70 Cash and cash equivalents at end of year 4 949,714,290,815 510,081,795,392
Nguyen Thuy Trang
Preparer
Le Phat Tin
Chief Accountant
Nguyen Thanh Ngu
Chief Executive Ocer
28 September 2021
TTC BIEN HOA
2020-2021 ANNUAL REPORT
HEADQUARTER
|
Tan Hung Commune, Tan Chau District, Tay Ninh Province
|
(0276) 375 32 50
|
ttcs@ttcsugar.com.vn
CONTACT INFORMATION
INVESTOR RELATIONS DEPARTMENT
|
11
th
Floor, TTC Building, 253 Hoang Van Thu St., Ward 2, Tan Binh Dist., HCMC
|
Ms. Vu Thi Le Giang -
Head of Investor Relations Department
|
(0283) 999 88 11
|
giangvtl@ttcsugar.com.vn
AGRICULTURE DEPARTMENT
|
11
th
Floor, TTC Building, 253 Hoang Van Thu St., Ward 2, Tan Binh Dist., HCMC
|
Mr. Nguyen Van Kien -
Agriculture Director
|
(0283) 999 88 11
|
cad@ttcsugar.com.vn
INFORMATION
FOR KEY
STAKEHOLDERS
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
SALES DEPARTMENT
|
11
th
Floor, TTC Building, 253 Hoang Van Thu St., Ward 2, Tan Binh Dist., HCMC
|
Mr. Huynh Van Phap -
Acting deputy CEO (Division of Sales)
|
(0283) 999 88 11
|
cd.dir@ttcsugar.com.vn
SUPPLY DEPARTMENT
|
11
th
Floor, TTC Building, 253 Hoang Van Thu St., Ward 2, Tan Binh Dist., HCMC
|
Mr. Nguyen Ngoc Van Quan -
Acting deputy CEO (Division of Supply)
|
(0283) 999 88 11
|
quannnv@ttcsugar.com.vn
HR DEPARTMENT
|
11
th
Floor, TTC Building,
253 Hoang Van Thu St., Ward 2,
Tan Binh Dist., HCMC
|
Mr. Huynh Ngoc Sinh
HR Deputy Director
|
(0283) 999 88 11
|
sinhhn@ttcsugar.com.vn
TRADE OFFICE
|
11
th
Floor, TTC Building,
253 Hoang Van Thu Street, Ward 2,
Tan Binh District, HCMC
|
(0283) 999 88 11
|
ttcs@ttcsugar.com.vn
WHISTLE-BLOWING HOTLINE
|
T11
th
Floor, TTC Building,
253 Hoang Van Thu Street, Ward 2,
Tan Binh District, HCMC
|
Mr. Huynh Thanh Nhan
Head of Internal Audit Department
|
090 123 37 90 (24/7)
|
ia.mgr@ttcsugar.com.vn