Duc Long Gia Lai aims for hefty rise in profit Manh Tung By Manh Tung - The Saigon Times Daily Duc Long Gia Lai’s annual general meeting in Pleiku City, Gia Lai Province last week - Photo: Manh Tung HCMC - Leaders of Duc Long Gia Lai Group said at an annual general meeting last week that the group is looking to a 50-time spike in profit this year. The corporation posted last year’s revenue of more than VND800 billion (US$37.9 million) and after-tax profit of VND1.6 billion. This year’s respective targets are more than VND1.1 trillion and VND91 billion. In the first quarter this year, Duc Long Gia Lai reported more than VND183 billion in revenue and saw its profit after tax rising 32 times over the same period last year to VND15.6 billion. Duc Long Gia Lai set the targets based on the macro-economic improvements in the year to date. According to the group’s leaders, although the country’s economy still faces challenges, it has shown positive … [Read more...] about Duc Long Gia Lai aims for hefty rise in profit
Duc long gia lai group
Duc Long Gia Lai to debut on bourse
By Thuy Trieu - The Saigon Times Daily HCMC - Duc Long Gia Lai Group expects to float shares on the Hochiminh Stock Exchange under the code of DLG on Tuesday at the reference price not lower than VND25,000 each. Main operations of the company include wood processing, exploring and processing granite stone, real estate, public infrastructure, hydropower, and rubber. The Gia Lai-based company targets a high growth rate of 30% a year within the next five years. In 2009, the company obtained VND566 billion in revenues and VND24.7 billion in after-tax profits. The respective figures are expected to surge to VND1.05 trillion and VND150 billion. … [Read more...] about Duc Long Gia Lai to debut on bourse
Duc Long Gia Lai acquires Mass Noble
VietNamNet Bridge - Duc Long Gia Lai Joint Stock Company is on the process of acquiring Mass Noble, a Hong Kong-based consumer electronics manufacturer, according to the firm's Board of Directors. Mass Noble's key markets include the US and Europe, which contribute almost 80% revenue of the company. Mass Noble' sales and EBITDA (earnings before interest, taxes, depreciation, and amortization) in 2014 is expected to reach US$50mil and $2.5 mil respectively. Duc Long Gia Lai Group is a manufacturer of wood furniture, based in Gia Lai Province, in Vietnam's Central Highlands. The Company's products include indoor and outdoor furniture, such as tables, chairs, desks, beds, television cabinets, floor-boards and wardrobes. These products are produced for domestic customers as well as export. The Company is also engaged in granite and basalt stone mining and processing for export and domestic demand as well as operation of bus stations, passenger transportation, hotel and resort services. … [Read more...] about Duc Long Gia Lai acquires Mass Noble
Hoang Anh Gia Lai Group: Debt and worries
VietNamNet Bridge - Hoang Anh Gia Lai Group (HAGL) is facing many challenges: The core businesses are not performing well, while the debt burden is up to tens of trillions of VND. 2015 was not a good year for HAGL boss Doan Nguyen Duc as his group had to cope with many difficulties and scandals. The price for the HAG share of HAGL Group fell deeply in the past year, up to over 60.5% and it is now at the lowest level since the group listed its shares in 2008. According to the HVS Vietnam Securities Company, the main reason leading to the significant decline of HAG shares is the huge debt of HAGL, as the group is expanding its business fields. By the end of the third quarter of 2015, HAGL’s debt was more than VND30,700 billion (over $1.36 billion), accounting for over 64% of its total assets. The debt continued to increase over the quarters. Although the majority of HAGL’s debt is in medium and long term (more than VND16,800 billion), the huge debt puts high … [Read more...] about Hoang Anh Gia Lai Group: Debt and worries
Sacombank Group, Duc Long Gia Lai sign cooperation deal
Sacombank Group, Duc Long Gia Lai sign cooperation dealBy Thanh Thuong - The Saigon Times DailyHCMC – Saigon Thuong Tin Commercial Bank (Sacombank) and Sacombank Securities Co. (Sacombank-SBS) have signed a deal to provide credit, and bond and share sale consulting service for Duc Long Gia Lai Group.Meanwhile, Sacombank-SBS will give advice to the group to raise capital from the stock market, and issue bonds for energy, real estate, rubber and infrastructure projects. Sacombank-SBS will also provide guarantees for share issues by Duc Long Gia Lai.Duc Long Gia Lai chairman Bui Phap said his company would need huge capital to finance its projects in the future. The firm plans to issue shares to increase its chartered capital in the third quarter of this year.The enterprise now has total charted capital of VND291 billion and 15 subsidiaries active in furniture production and export, parking services and hydropower generation. … [Read more...] about Sacombank Group, Duc Long Gia Lai sign cooperation deal