From May 25 to June 23, 2020, Mr. Vo Truong Son – General Director cum Member of the Board of Directors Hoang Anh Gia Lai (HAGL, HAG) is expected to sell all over 803,000 shares of the Company currently holding, respectively 0.09% of the capital.
Transactions are conducted by order-matching method, aiming to address personal financial needs. On the market, HAG shares are on a strong rise, closing the session on May 20 at the ceiling of VND 4,160.
Regarding business, in 2020, before the epidemic of Covid-19, HAGL set a goal of maintaining good care of existing fruit trees, stabilizing employment and income for laborers.
In particular, revenue from selling bananas is the main source of money in the short term due to short construction period, high harvest output and stable selling prices. The Board of Directors of the Company has been advocating to continue expanding banana growing area; In addition, the trees with high economic value such as jackfruit, mango, avocado, durian … also come to harvest age will bring a big source of income.
In the rubber segment, the Group maintains 31,085 hectares of rubber, including 18,200 hectares in Laos, 1,680 hectares in Vietnam and 11205 hectares in Cambodia. The Group is operating a rubber processing factory with a capacity of 25,000 tons / year in Laos. It is expected that by 2022, the whole area of rubber will be put into exploitation.
By the end of the first quarter of 2020, HAGL recorded revenue of VND 426 billion to VND 836 billion. Due to the revaluation of assets, other losses were incurred, together with interest expense pressure. As a result, the company reported a net loss of over 78 billion dong, Q1 profit of 21 billion dong.
According to Young Intellectuals