Boss Duc announces good news

Hoang Anh Gia Lai (HAGL) had VND1.867 trillion in net turnover in H1, of which the fruit industry brought VND1.094 trillion, livestock VND439 billion and supporting branches VND334 billion.

HAGL sold 82,529 pigs and 109,807 tons of bananas, including 81,569 tons for export and 28,238 tons for animal feed.

HAGL made a post-tax profit of VND531 billion in H1, which accounts for 47 percent of the yearly business plan. The figure is encouraging if noting that banana export prices are the lowest of the year, at 6.5-8.5 per barrel, and pig prices are between VND53,000 and VND55,000 per kilogram.

According to Duc, banana prices are entering the highest season of the year (from September), and the pig prices continue to increase (it was up by 20 percent compared with the company’s estimates and pig output is expected to be twice as much as the volume consumed in H1). 

The company believes that it will soon fulfill its yearly business plan, or even exceed the plan by 20-30 percent. 

Company related to Tam collects 5 million shares

Vinatext-Tan Tao Investment Corporation, an institution related to Dang Thanh Tam, chair of Kinh Bac City Development Corporation (KBC), has bought 5 million shares to raise its ownership ratio from 3.65 percent to 4.46 percent. The transactions were carried out on June 17- July 15.

Regarding the business activities, in Q1 2022, KBC reported revenue of VND691.6 billion and post-tax profit of VND523.3 billion, down by 65.5 percent and 26.8 percent, respectively, compared with the same period last year. The gross profit margin dropped from 56.1 percent to 40.4 percent.

Tam said Kinh Bac has obtained licenses to develop 3-4 projects with a large area. It will take 3-5 years to implement the project, build infrastructure and attract investment. The investment appeals can begin in 2023.

Gelex’s CEO collects shares of securities company

Nguyen Van Tuan has bought 1 million VIX shares, raising his ownership ratio from 14.84 percent to 15.02 percent. The transaction was carried out on July 11 via put-through mode. The seller was Phan Duc Linh.

After the transactions, Tuan and a group of related shareholders are now holding 25.12 percent of shares at VIX.

On July 11 trading session, there was a put-through session with 1 million VIX shares transfer at the price of VND11,100 per share. It is estimated that Tuan spent VND11.1 billion to buy one million VIX more.

Nguyen Van Tuan is the younger brother of Nguyen Thi Tuyet, deputy chair and CEO of VIX Securities. Tuan is now CEO of Gelex (GEX).

The ambitions of a big retailer from Nam Dinh

Established in 2002 with the name Phuc An Khang Drug Store, the drug retail chain had become a part of The Gioi Di Dong (Mobile World Group) as of late 2017 with 14 stores in HCM City. The chain has changed its name to An Khang.

Since the beginning of 2022, An Khang has been expanding its network of stores all over the country. Since late May 2022, about 100 stores have been opened a month.

The retail chain now has 500 stores, mostly in the south and has been moving towards the central and northern regions. Established as a mobile phone distributor, MWG entered the drug distribution market later than its rivals. However, An Khang still can show its strong resources when becoming the top 3 biggest drug retailer.

Doan Van Hieu Em, CEO of MWG, said the opening of new stores at lightning speed was inevitable after a period of surveying the market.  As a newcomer, MWG will have to gear up to narrow the gap with its rivals.

Vu Dang Hai Yen resigns

On July 13, Vu Dang Hai Yen, deputy CEO of FLC, submitted his application of resignation to the Board of Directors. She decided to resign from the post because of "personal reasons".

One day later, FLC’s Board of Directors approved the resignation and Yen officially left on July 14.

Prior to that, Trinh Van Quyet, who was then chair of FLC, released a document authorizing Vu Dang Hai Yen to regulate the operations of FLC and Bamboo Airways.

Yen is also the representative who implements all rights related to the assets of Trinh Van Quyet.

FLC has appointed Dang Tat Thang as chair of the board of directors.

Duy Anh