How much durian will Mr. Duc harvest in 2024?

Harvest 300 - 400 hectares of durian, expand to 2,000 hectares

On the afternoon of December 15, in Ho Chi Minh City, Hoang Anh Gia Lai Joint Stock Company (HAGL) of Mr. Doan Nguyen Duc (Bau Duc) organized a meeting with more than 140 investors. One of the most interesting stories is still the king of fruits - durian.

Many shareholders believe and congratulate Mr. Duc on overcoming difficult times.

In 2023, a small part of Mr. Duc's durian area (30 hectares) was harvested for the first time in August. At that time, the price of selling in bulk to traders also reached 77,000 VND/kg. Revenue reached 18 billion VND while the cost was only 3.6 billion VND. By October, the "durian king" harvested about 442 tons of fruit.

Many shareholders are interested in how many hectares of durian will be harvested in 2024, how will it be sold, what will be the selling price, and what will be the quality and yield?

Bau Duc shared: The latest information is that I just returned from China 3 days ago. We are re-examining the entire durian garden to prepare for "flowering" in the coming time. In 2024, the estimated durian harvest area is at least 300 - 400 hectares. This is the area for the first year's harvest, so the average yield is only about 10 tons/ha. This harvest area is mainly located in Laos, the harvest time is around October - November. This is a natural off-season durian, so the selling price is very high, definitely over 100,000 VND/kg, currently up to 150,000 VND/kg.

Regarding output, according to Mr. Duc, this year the area is small, the output is low, so he will try selling to traders to see how it goes because exporting a few containers is... a waste of time. HAGL's durian garden has an advantage in quality, which is uniformity because the 1,200 hectares have the same care process.

"With those advantages, there are hundreds of customers from China waiting in line to buy durian from HAGL. This year I will sell directly to Chinese distributors instead of selling through traders. In China, they have a community of 500 fruit and vegetable importers; in the past, HAGL was the only Vietnamese enterprise present in that community as a banana distributor. We will sell durian to China that way," the "durian king" confidently said.

Mr. Duc also said that the Chinese market has a very large capacity and can consume all of it. In addition to China, the US and many other markets have also started to "eat" durian. "In the coming time, we will continue to expand the durian garden to reach a total area of ​​2,000 hectares and may increase further. The important reason is that China cannot grow durian because this is a tree with a highly specific climate," the "durian king" affirmed.

Will be debt free by 2025

Regarding financial issues, Mr. Duc said: We are discussing with partners to sell Hoang Anh Gia Lai Hospital. This will be completed before December 31, 2023. Before that, we sold HAGL Hotel. "In addition to profits from business activities, we fulfill our commitment and determination to sell unprofitable assets to pay off debts. HAGL has paid off the debt of 750 billion VND to Eximbank" - Mr. Duc informed.

For the past few decades, I have been working hard to pay off my debts so as not to be cursed. Now I can eat well and sleep much more peacefully than before. Hoang Anh is my daughter's name, I will never abandon her, I will continue to fight but I also do not have the ambition to expand into many different industries and professions like before.

Mr. Doan Nguyen Duc

"From a debt of VND28,000 billion in 2016; with our determination to pay off debt in the past, as of September 30, the company had a debt of VND7,778 billion. I am determined to pay off the debt by 2025. We have many debt repayment options and selling unprofitable assets is part of that," Mr. Duc affirmed.

Regarding the debts that partners owe HAGL, they have also paid on time, currently only more than 1,000 billion VND. According to the commitment of three parties (including the bank), this amount will be paid to HAGL in the third quarter of 2024, so shareholders have nothing to worry about. The important thing is that the value of the mortgaged assets currently in the bank is worth tens of thousands of billions of VND.

After the dialogue, Mr. Duc invited shareholders to a year-end party and said he would organize dialogues with shareholders periodically about every 2 quarters in 2024.

"HAGL is expected to achieve a profit of up to VND 2,150 billion in 2023 (including the sale of the hospital), double the plan set at the beginning of the year. In 2023, HAGL is expected to increase its profit by 25% compared to 2023," the Chairman of HAGL shared.

Regarding the private issuance of 130 million shares, some shareholders are worried that the company will be "taken over". Mr. Duc said that LPBank Securities Company (LPBS) is expected to buy 50 million shares, Thaigroup Corporation (Thaigroup) will buy 52 million shares and individual investor Nguyen Duc Quan Tung is entitled to buy 28 million shares. It is expected that HAG's offering will be carried out after being approved by the Securities Commission (the dossier was sent 2 weeks ago). The proceeds will be used to pay off the principal, bond interest, and increase the capital of the subsidiary. "If anyone wants to take over, then go ahead and do it. I'm just worried that no one will take over," Mr. Duc said.

Source link: https://thanhnien.vn/bau-duc-se-thu-hoach-bao-nhieu-sau-rieng-trong-nam-2024-185231215182005074.htm