VietNamNet Bridge - As of December 312015, Hoang Anh Gia Lai Joint Stock Company’s (HAGL) total debt amounted to VND27,099 billion, up 50% compared to VND18,126 billion of debt in 2014, reported Zing news. According to the audited consolidated financial statement, in 2015 HAGL obtained only VND502 billion of net profit, down 65% compared to 2014. The cause of poor business results of HAGL was mainly because of the stumbling of rubber latex prices, which was sometimes below the cost price of $1,300 per ton compared with $5,500 per ton in the golden time. HAGL currently has VND27,099 billion of credit loans and bonds, including VND8,297 billion of short-term loans that will be due in 2016 and VND18,801 billion of long-term loans. In addition, the auditor Ernst & Young Vietnam noted that HAGL violated some terms of the bond loans. The bond loan debts accounted for over 50% of HAGL’s loans, including VND1,100 billion of convertible bonds, VND1,130 billion of swap … [Read more...] about The list of creditors of Hoang Anh Gia Lai Group
Duc long gia lai group
Duc Long Gia Lai aims for hefty rise in profit
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 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 suffers first quarterly loss since 2008
VietNamNet Bridge - Hoang Anh Gia Lai Group has announced the net loss of more than VND566 billion ($24 million) in the fourth quarter of 2015, the first loss of this firm since 2008. According to the group’s financial report of the fourth quarter 2015, its revenue was estimated at VND1,049 billion ($47.6 million), up 60% over the same period of 2014. In the revenue structure, beef and sugar are the main products, which brought about VND396 billion and VND154 billion. Revenue from construction contracts reached only VND157 billion, down 40%, and rubber revenue fell by 25% to VND60 billion (less than $3 million). Although revenue increased, the cost prices soared to VND925 billion, doubling that of the same period so profit decreased by 35% to VND123.5 billion, with profit margin at 12% only. In the expenses in the fourth quarter, interest was up to VND326 billion compared to VND203 billion in the fourth quarter 2014. The cost of sales also rose from VND13 billion to VND33 … [Read more...] about Hoang Anh Gia Lai Group suffers first quarterly loss since 2008