Entrepreneur Truong Sy Ba: From Tan Long Group to BaF agriculture

DNHN - The firm has set a target for 2022 of VND 5,950 billion in net sales, which is only 57% of last year's results, while profit after tax is predicted to climb 25% to VND 402 billion.

On January 4, the chairman of Tan Long Group's company bought a lot of shares in BAF through a deal to buy a lot of shares in this business.

Siba Holdings Joint Stock Company, in particular, paid 700 billion VND to acquire roughly 16 million BAF shares, or 20.5 percent of the charter capital.

Siba Holdings had not previously possessed any BAF shares.•Siba Holdings is a newcomer to the market, having entered on October 14, 2021.

At 48 Le Van Luong in Hanoi's new urban area N1, the company's registered headquarters are on the fifth floor of the Diamond Flower building.

This is where the company is legally registered.

Siba Holdings' legal representative is Mr. Truong Sy Ba, chairman of Tan Long Group.

Truong Sy Ba founded a chemical trade firm in 2000.

Following that, Mr. Ba changed the course of his firm and eventually became a supplier of raw materials for animal feed manufacturing.

Ba's strong nature and insight enable him to continue expanding the company's commercial scope to include rice, cashews, and pork.

Rice and cashew are the second and third major sources of income for Tan Long, behind raw materials for animal feed manufacturing.

"The food business, particularly rice, is a critical commodity with tremendous growth potential," the Chairman of the Tan Long Group's Board of Directors said.

However, this business isn't easy to grow because, if you want to go the long way and build a long-term, sustainable business, you have to invest in the whole chain, starting with raw materials.even channel development.

Ba thinks that the primary element determining an enterprise's success is its people, particularly its youth, who are energetic, aggressive, and driven.

All of these variables contribute to the individual's growth.•Under this philosophy, Mr. Ba even regards each farmer in the field as an employee of the Tan Long Group.

"If you've worked in agriculture, you've had to be involved with the fields and farmers" Mr. Ba said.

As a separate business, BaF Agriculture came into being in 2017 with a capital investment of 30 billion VND.

There are some similarities between BaF Vietnam's business strategy and the strategy of Tan Long Group.

BaF Vietnam focuses on the wholesale market for agricultural goods (corn, wheat, soybean meal), pig farming, and animal feed (bran).The objective is to create a closed feed-farm-food system.

Also, the financial accounts show that BaF Agriculture and Tan Long Group are linked.

Hai Anh