Bau Duc's company dissolved a subsidiary over 1 year old.

(NLDO)- Mr. Duc's company recently announced the payment of more than 1,000 billion VND for the HAGLBOND16.26 bond lot, of which BIDV is the bondholder.

The Board of Directors of Hoang Anh Gia Lai Joint Stock Company (HAGL, stock code: HAG) - the company chaired by Mr. Doan Nguyen Duc (Bau Duc) has just approved the dissolution of its subsidiary, Kon Thup Agricultural Joint Stock Company, headquartered in Gia Lai province.

The reason for the dissolution is that this subsidiary has no business activities. According to the latest financial report, HAGL currently owns 88.3% of the charter capital of this member unit.

It is known that Kon Thup Agriculture was established on December 28, 2023, operating in the field of cultivation and livestock breeding.

In another development, Hoang Anh Gia Lai recently had HAGL International Agriculture Joint Stock Company (HAGL Agrico, stock code: HNG) complete debt repayment according to the Tripartite Commitment Agreement (HAGL - BIDV Bank - HAGL Agrico).

Hoang Anh Gia Lai Operation Center

Specifically, HAGL Agrico paid VND4,228 billion. Of which, the company directly paid BIDV a loan worth VND2,094 billion and paid VND2,134 billion to Hoang Anh Gia Lai related to the HAGLBOND16.26 bond issued in 2016.

Also in the last days of 2024, Hoang Anh Gia Lai announced the payment of more than VND 1,000 billion of HAGLBOND16.26 bonds, of which BIDV is the bondholder. However, the company still has a debt of VND 766 billion unpaid due to the failure to liquidate non-profitable assets. It is expected that Mr. Duc's company will complete this debt in the second quarter of 2025.

Regarding business performance, in the first 9 months of 2024, Hoang Anh Gia Lai recorded revenue of VND 4,193 billion, down 16.7% over the same period. However, thanks to cost reduction, after deduction, profit after tax reached VND 851 billion, up 19.9% over the same period last year.

On the stock market, HAG shares have fluctuated recently at 11,500 - 13,000 VND/share. At the end of the trading session, this stock was priced at 11,950 VND/share, down more than 5% compared to a month ago but up more than 12% compared to the end of the third quarter of 2024.

Source: https://nld.com.vn/cong-ty-bau-duc-giai-the-mot-cong-ty-con-hon-1-nam-tuoi-196250109172431751.htm