Mr. Duc's company is profitable, increasing debt from a familiar bank

(Dan Tri) - In the first half of the year, Hoang Anh Gia Lai earned a profit of 870 billion VND, an increase of 74% over the same period, the Company increased its debt from OCB Bank.

Hoang Anh Gia Lai Joint Stock Company (stock code: HAG) has just announced its consolidated financial report for the second quarter of 2025. The report shows that in the first half of the year, the company, chaired by Mr. Doan Nguyen Duc (Bau Duc), increased its short-term debt by VND2,164 billion.

The loan is mainly with the creditor being Orient Commercial Joint Stock Bank (OCB), with an amount of VND 1,976 billion. Another short-term debt is from Ho Chi Minh City Development Joint Stock Commercial Bank ( HDBank ), equivalent to VND 150 billion.

In the long-term debt section, OCB also lent Hoang Anh Gia Lai nearly 218 billion VND.

Financial loans of Hoang Anh Gia Lai (Source: Financial statements).

Notably, during the period, Mr. Duc's company paid and transferred the bond debt from BIDV to new bondholders. As of June 30, the bond debt at BIDV was only 1,099 billion VND.

Specifically, during the period, a portion of the bonds with an original value of VND2,000 billion (Group B bonds) and accumulated bond interest up to May 20 with a value of more than VND2,022 billion were transferred to new bondholders.

This group of bondholders includes Huong Viet Investment Consulting Joint Stock Company and individuals including Ms. Nguyen Thi Dao, Mr. Phan Cong Danh, Ms. Nguyen Anh Thao, Mr. Ho Phuc Truong, and Mr. Nguyen Duc Trung.

New bondholder group of Hoang Anh Gia Lai (Source: Financial statements).

Regarding this group, Hoang Anh Gia Lai recently consulted shareholders about converting debt by issuing 210 million shares at a price of VND12,000/unit.

It is expected that after the exchange issuance, Huong Viet will hold 4.74% of the company's capital. Some other individuals will hold more than 3% of the capital.

If this more than 2,000 billion VND is converted, Hoang Anh Gia Lai's debt will be greatly reduced. Mr. Duc once hoped to be able to resolve all debts and the group's financial report at the end of this year would be "extremely beautiful".

Regarding business results, Hoang Anh Gia Lai recorded a profit after tax in the second quarter of nearly VND510 billion, nearly double the same period last year. The company explained that during the period, gross profit increased thanks to banana trading activities.

Accumulated for 6 months, the group achieved profit of 870 billion VND, up 74% over the same period last year.

Thanks to good business results, Hoang Anh Gia Lai has officially erased accumulated losses that have lasted for many years. As of June 30, the group's accumulated profit reached nearly 400 billion VND.

Source: https://dantri.com.vn/kinh-doanh/cong-ty-bau-duc-co-lai-gia-tang-vay-no-tu-mot-ngan-hang-quen-ten-20250731131426487.htm