Hagl

They were 66 percent lower than that in the same period last year and the lowest since 2008 when HAGL listed its shares on the Ho Chi Minh Stock Exchange. The main reason for this, it said in its quarterly report, was its sale of HAGL Agrico in January . HAGL Agrico had debts of over VND16 trillion ($693 million), and was sold to Truong Hai Agriculture Company (Thagrico), a subsidiary of automaker Thaco, for VND9.2 trillion. Thagrico is also set to invest VND7.4 trillion in it, which will enable it to repay the debts. Thagrico now owns 63.08 percent of HAGL Agrico. In the first quarter, HAGL’s revenues from selling fruits fell by 77.6 percent year-on-year to VND115 billion and gross profit by 81.4 percent to VND52.4 million. With corporate income tax payment deferred, HAGL managed to get away with a net loss of VND69 billion considering the tax it owed was almost VND180 billion. Its assets decreased by nearly VND20 trillion to VND18.4 trillion. … [Read more...] about HAGL revenues fall to record low

Workers collecting latex at HAGL's farm in Attapeu, Laos. — Photo hagl.com.vn Hoang Anh Gia Lai (HAGL) has just registered to sell 80 million shares of HAGL Agrico (HNG), reducing its owner’s equity from 23.28 per cent to 16.06 per cent. After the sale, HAGL will hold more than 178 million shares in the agricultural company. The transaction is expected to be executed under the method of agreement from May 7 to June 5, 2021. With the par value, HAGL can obtain a value of VND800 billion after the deal. The company will use the money to restructure debts at Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank). Previously, HAG reduced its ownership in HNG from 29.78 per cent, or 330 million shares, to 22.57 per cent, or 250 million shares. In terms of business activities, in the first quarter of 2021, after the agricultural company HNG was no longer a part of HAGL, the company’s net revenue fell sharply 68.1 per cent over the same period last year to VND265.84 … [Read more...] about Hoang Anh Gia Lai to sell 80 million shares of HAGL Agrico

HAGL Agrico has revised its targets for this year due to the negative impact of COVID-19 The new targets were announced at the annual shareholders' meeting of International Agriculture Hoang Anh Gia Lai JSC (HAGL Agrico) on June 4. HAGL Agrico has forecast a revenue of VND1.46 trillion ($63.5 million) and an overall loss of VND84 billion ($3.65 million) this year, a significant reduction from the VND2.1 trillion ($91.3 million) and VND16 billion ($695,650) set at the extraordinary shareholder meeting in January. The representative of the Board of Directors explained that the disruptions of the COVID-19 pandemic in Laos and Cambodia caused difficulties in transporting agricultural equipment to the group's farms. The technical staff, employees, and contractors working on its projects under construction also had to be isolated when they crossed the border, extending timelines and expenditures. Besides, the lack of capital and employees (due to lack of finances to to pay wages) … [Read more...] about HAGL Agrico forecasts loss this year due to COVID-19

The Hoang Anh Gia Lai Group (HAGL) of Chairman Doan Nguyen Duc has gradually withdrawn from the fields of business Duc has been dedicated to for a decade. Once the richest man in Vietnam and successful in many fields, Duc now faces many difficulties. HAGL Group completed the negotiated sale of nearly 80 million shares of HAGL Agrico (HNG) from May 7 to June 5, thereby reducing the ownership ratio from 258 million shares (23.28% of capital) to 178 million shares (16.07% of capital). At the current price of about VND10,500 per share, HAGL Group has earned about VND850 billion from this. HAGL Group Chairman Doan Nguyen Duc. Previously, HAGL Group divested capital from HAGL Agrico. From late March to late April, HAGL sold more than 72 million shares of HAGL Agrico, earning about VND870 billion. In 2020, HAGL also sold hundreds of millions of HAGL Agrico shares. This was an act of business restructuring to pay debts at the bank. For many years, Duc's HAGL … [Read more...] about After decade of struggle, HAGL posts loss and gradually ‘sinks’

Newly-appointed Hanoi FC coach Park Choong-kyun has offered high praise to rivals Hoang Anh Gia Lai (HAGL) and their tactics. Coach Park Choong-kyun (middle) seen in a training session with Hanoi FC. Photo Hanoi FC The South Korean coach spoke to the media after a training session to prepare for his first match in charge of the team against Binh Dinh today in the V.League 1. Park revealed that he didn’t hesitate when he was approached by Hanoi FC who are known as an ambitious club. After a week of getting acquainted with the new team, Park said he had identified the weaknesses that Hanoi need to overcome. “I took on the mission from the middle of the football season. Through the recent matches, I have analysed the team’s weaknesses to repair. The play style of Hanoi and my football philosophy are very similar,’ said Park. “I don’t have difficulties with the play style of the team. However, Hanoi need to improve their defence. The club has many shortcomings, but … [Read more...] about New Hanoi FC coach impressed by HAGL

Hoang Anh Gia Lai (HAGL) football club won all four team and individual awards of V-League 2021 in April, thanks to the team’s impressive achievements at the tournament. HAGL players. The team won nearly all of the V-League awards in January and March. With a series of winning games, HAGL was voted the the best club of the month. Thai coach Kiatisuk greatly contributed to the FC’s achievement and he won the best coach title in April. The other two awards for HAGL are Player of the Month, and Best Goal of the Month. The winners of the two awards are Van Toan (6 goals) and Xuan Truong, with a goal scored in the match against Hanoi FC in the 10th round of the V-League. The lucky prize winner was an audience member who voted for the best goal, a fan of HAGL FC. In the 11th round of the V-League, coach Kiatisuk and his players will face Thanh Hoa' FC. This is the next big challenge for Cong Phuong, Xuan Truong and the team. Thanh Hoa has a very good record, … [Read more...] about Thai coach Kiatisuk and team win most V-League awards in April