Fico Tay Ninh Cement Joint Stock Company (Vietnam)

The subject has existed in this business for 19 years. In addition, it is one of the three producers with integrated plant operations in South Vietnam and supplied high quality cement to the South Vietnam market (a major cement supplier to Ho Chi Minh City and the Mekong Delta region). Thus, in 2017, it attracted a Malaysian group - YTL Corporation Berhad acquired step by step, from 29.46% in Jun 2018 to 49.04% in Jun 2019 and later, it became a 68.63% subsidiary of YTL group through YTL Cement Berhad in Jun 2020.Therefore, there was a change in fiscal year, from Dec 2018 to Jun 2019. In other words, it changed from Fico group (Vietnamese company) to YTL group (Malaysian company). The YTL group has 69 years of experience in the market. However, FICO CORPORATION – JSC has influence on its key policies. Therefore, each large shareholder appoints a representative in the BoD.YTL Corporation Berhad (MYX: 4677, TYO: 1773) – ultimate parent company's major shareholders were Yeoh Tiong Lay & Sons Holdings Sdn Bhd – 50.2% and HSBC Nominees (Asing) Sdn Bhd - Credit Suisse (Hong Kong) Limited – 4.62% in Jun 2023. Puan Sri Tan Kai Yong was also a deemed major shareholder of YTLSH and its subsidiaries by virtue of her beneficial interest (held through Yeoh Tiong Lay & Sons Trust Company Limited, in its capacity as trustee) in Yeoh Tiong Lay & Sons Family Holdings Limited (the ultimate holding company of YTLSH and YTL Corp).The YTL group's revenue by segments were Utilities – 71%, Cement & Building Materials Industry – 16% (including Fico Vietnam), construction – 4%, property investment & development – 1%,  hotel operations – 4% and management services & others – 3% in Jun 2023. This indicates that it is operating in an important division of the YTL group.