AsemconnectVietnam - Truong Thanh Wood Industry Group Joint Stock Company (code TTF - HOSE) announced that it has divested all capital from a member unit before the end of the 2023 fiscal year.

On December 29, 2023, Truong Thanh Wood Company transferred all shares in Viestones Joint Stock Company and officially no longer owns shares in this unit.
It is known that as of September 30, 2023, Truong Thanh Wood owns 20% of the capital at Viestones Joint Stock Company and is accounted for as an investment in joint ventures and affiliated companies. Among them, Viestones Joint Stock Company is located in Binh Duong province and operates in the field of construction stone production.
Previously, on December 28, 2023, Truong Thanh Wood Company approved the policy of receiving credit, with a maximum total loan amount of VND400 billion, for a period of 12 months. The purpose of the loan is to supplement and compensate for working capital.
Truong Thanh Wood Company added that measures to ensure debt repayment obligations can be mortgages, pledges of part or all of the Company's assets, guarantees from other individuals or organizations.
Another notable development, previously, Truong Thanh Wood Company approved the policy of receiving credit at SinoPac Bank - Ho Chi Minh City Branch with a maximum loan limit of USD1.5 million to supplement mobile capital.
In particular, the agreement to use the assets of Truong Thanh Wood Company is an unconditional and irrevocable letter of guarantee issued by domestic banks such as Vietcombank, BIDV, VietinBank, and Techcombank to ensure all obligations. The Company's loans are made at SinoPac Bank - Ho Chi Minh City Branch.
N.Nga
Source: VITIC/Tinnhanhchungkhoan