Thanh Thanh Cong Trading Joint Stock Company has registered to buy VND 100 billion of SCR stock
On December 2nd, 2019, Thanh Thanh Cong Trading Joint Stock Company registered to buy more than 16 million SCR shares, equivalent to 4.7% outstanding shares of TTC Land for long-term investment purpose. This is the first time Thanh Thanh Cong Trading JSC has purchased to own SCR shares and the transaction expected to happen from December 5th to December 31st with a total estimated value of VND 100 billion.
One of the projects invested by TTC Land
After Thanh Thanh Cong Group being a major shareholder of TTC Land for 8 years, Thanh Thanh Cong Trading JSC would like to invest when SCR stock price being considered very attractive as well as in the period that business activities have been remained quite efficiently in this quiet time of the market.
Regarding of SCR shares, in the last 3 years, SCR's P/E in 12 months fluctuated between 6.1 and 9.1 times, which was much lower than the industry average figure from 9.3 to 12.1 times. In the first 9 months, SCR's EPS reaches VND 957 / share, increasing by 49% compared the end of 2018. This reflects that the company’s business activities are getting better, leading to EPS growth but the stock is currently undervalued when P / E and P / B are lower than the industry average. Statistics from the beginning of 2019, SCR shares transferred with stable liquidity of an average of 2.8 million shares matched / session. In the recent time as of December 2nd, 2019, the average trading volume of 10 sessions of SCR suddenly increased to nearly 3.2 million shares a day, even some days it reached about 5 million shares.
For business activities, by the end of Q3 2019, the company has reached 95% of the profit plan and is expected to exceed the plan of this year. In Q4 2019, TTC Land continues to sell the Panomax River Villa "Apartment" project. Revenue from this project is expected to be over VND 1,500 billion recorded in 02 years 2020 and 2021 according to the handing over schedule. It is expected that in 2020, TTC Land will promote the simultaneous implementation of 7 civil real estate projects in prime locations of the center of Ho Chi Minh city, Dong Nai, Da Nang and Lam Dong.
In Da Nang, Charmington Tamashi high-class complex project is expected to be under implementation in early 2020 with a floor area of 124,000 m2. In Lam Dong, TTC Land is also implementing the construction of TTC Plaza Duc Trong commercial center with a scale of 4 commercial floors, 1 basement and construction floor area of about 12,000 m2. The project is planned on handing over commercial space to tenants in February 2020 with the participation of leading names in the retail industry of Vietnam and Korea. This is also the first commercial center project and the first cinema in Duc Trong town.
TTC Plaza Duc Trong - the first commercial center project and the first cinema in Duc Trong town
In the strategy of increasing the ownership ratio of institutional shareholders and professional investment funds, after Ban Viet Securities Company - VCI has officially become a major shareholder of TTC Land, if Thanh Thanh Cong Trading JSC completed transaction, the total ownership of the major shareholders and related parties is estimated to account for 42.3% compared with 36.4% as before. Recently, TTC Land has also signed strategic cooperation agreement with Lotte E&C - Korea to invest in project development with value estimated up to USD 100 million.
Thanh Thanh Cong Trading JSC has nearly 40 years of experience in the traditional trading of sugar, molasses and alcoholic products, with a wide distribution network of more than 1,000 processing and trading customers spreading from South to North. Thanh Thanh Cong Trading JSC is continuing to invest in developing warehousing - transportation services throughout the country, focusing on construction for both operation and business development, promoting ex-import activities and international businesses.
