AsemconnectVietnam - Truong Thanh Wood Processing Group Joint Stock Company (code TTF - HOSE) approved a plan to borrow capital from Agribank - Binh Duong Branch and at the same time gradually reduce outstanding debt at Kien Long Commercial Joint Stock Bank - Saigon Branch.

Truong Thanh Wood approved a plan to borrow VND35 billion from Agribank - Binh Duong Branch, maximum loan term of 9 months, for the purpose of supplementing working capital. In which, the Company continues to use assets attached to land according to the Land Use Rights Certificate No. T313457 issued by Binh Duong Provincial People's Committee on October 24, 2001 to secure all loans of the Company at Agribank - Binh Duong Branch.
In addition, Truong Thanh Wood also approved the policy of gradually reducing outstanding debt at Kien Long Commercial Joint Stock Bank - Saigon Branch and transferring it to borrow capital at Agribank - Binh Duong Branch.
It is known that by the end of the first quarter of 2025, the total short-term and long-term debt of Truong Thanh Wood increased by 6.4% compared to the beginning of the year, equivalent to an increase of VND31.2 billion, up to VND521 billion and equal to 131.5% of equity. In which, short-term debt is VND499.1 billion and long-term debt is VND21.9 billion.
Truong Thanh Wood explained that it is borrowing from Viet A Commercial Joint Stock Bank - Ho Chi Minh City Branch an amount of VND351.6 billion, interest rate of 11.25%/year; borrowing from Vietnam Technological and Commercial Joint Stock Bank an amount of VND47.2 billion, floating interest rate; Borrowed from the Bank for Agriculture and Rural Development - Binh Duong branch for VND27 billion, interest rate of 7%/year; borrowed from Vietnam Thuong Tin Commercial Joint Stock Bank - North Saigon Branch for VND22.55 billion, interest rate of 9.4%/year; borrowed from Kien Long Commercial Joint Stock Bank - Saigon Branch for VND3.04 billion, interest rate of 12.1%/year; borrowed from Vietnam Maritime Commercial Joint Stock Bank for nearly VND1.5 billion and some other long-term loans.
In terms of business activities, in the first quarter of 2025, Truong Thanh Wood recorded revenue of VND178.7 billion, down 44.7% over the same period, profit after tax of VND1.58 billion, down 86.4% over the same period last year. In which, gross profit margin decreased from 13.1% to 7.5%.
In addition, despite making a profit in the first quarter of 2025, as of March 31, 2025, Truong Thanh Wood still had an accumulated loss of VND3,241.8 billion, equivalent to 78.8% of charter capital.
N.Nga
Source: VITIC/Tinnhanhchungkhoan