Hoang Anh Gia Lai Joint Stock Company (code HAG), chaired by Mr. Doan Nguyen Duc (Bau Duc), has just announced unusual information about the payment of principal and interest on bonds. Specifically, HAGL announced that it will delay payment of more than VND 4,500 billion in principal and interest on bonds with code HAGLBOND16.26 issued on December 30, 2016.

Of which, HAGL will be late in paying more than VND3,484 billion in interest and more than VND1,015 billion in principal. HAGL is expected to pay in the fourth quarter.

The reason for the delay in payment, according to HAGL, is that it has not yet collected enough money from the debt of Hoang Anh Gia Lai International Agriculture JSC (a 3-party debt repayment schedule has been agreed upon) and has not yet liquidated some unprofitable assets.

Recently, HAGL's business performance has been very positive, with many good prospects.

According to the audited consolidated financial report for the first 6 months of the year, HAGL's revenue decreased by 11% compared to the same period, reaching only nearly 2,800 billion VND, but after-tax profit reached more than 500 billion VND, an increase of 30% compared to the same period.

By the end of the second quarter of 2024, HAGL's debt payable will be more than VND 12,700 billion, down from more than VND 14,220 billion at the beginning of the year, including more than VND 9,000 billion in short-term debt.

The main products of the company chaired by Mr. Duc, such as durian and banana, all have favorable output and high selling prices.

On the market, at the end of the session on October 1, HAG shares reached 11,050 VND/share.

Mrs. Hoang Anh, the daughter of Mr. Duc, has just spent about 21 billion VND to buy 2 million HAG shares. Mrs. Hoang Anh currently has assets of about 137 billion VND, calculated according to the current market price of HAG shares.