Hoang Anh Gia Lai group reports US$49m lossHoang Anh Gia Lai Joint Stock Co (HAG), one of the largest private enterprises in Viet Nam, reported a record loss of almost VND1.1 trillion (US$49 million) in the first half of 2016. Hoang Anh Gia Lai Co (HAG)'s chairman, Doan Nguyen Duc. After reporting the first-time loss in the last quarter of 2015, Hoang Anh Gia Lai Co started to restructure the company's debts by selling real estate projects in Viet Nam, transferring some mineral projects, as well as liquidating uneconomic undertakings. Among the top 30 biggest stocks in Viet Nam, the company's shares slumped 122 per cent in 2015. Switching to agriculture three years ago, Hoang Anh Gia Lai has yet to reap the desirable results in sugarcane and rubber production or husbandry.

Source: VietNamNet News August 23, 2016 03:56 UTC