HAGL Agrico has paid off all debts to Hoang Anh Gia Lai, receiving back more than 32,500 hectares of rubber and oil palm land.

The total amount paid by HAGL Agrico is 4,228 billion VND. Of this, the company paid 2,094 billion VND directly to BIDV and 2,134 billion VND to HAGL related to HAGL bonds issued in 2016.

On December 31, 2024, Hoang Anh Gia Lai International Agriculture Joint Stock Company (HAGL Agrico - ticker: HNG), a company operated by Thaco , announced that it had completed debt repayment according to the tripartite commitment agreement between the Vietnam Investment and Development Bank (BIDV), HAGL Agrico, and Hoang Anh Gia Lai Joint Stock Company (HAGL - ticker: HAG).

Accordingly, HAGL Agrico has paid a total of 4,228 billion VND. Of this amount, the company paid 2,094 billion VND directly to BIDV and 2,134 billion VND to HAGL related to HAGL bonds issued in 2016.

Therefore, as of December 31, 2024, HAGL Agrico had paid off all debts under the Agreement and no longer had any outstanding debt with HAGL.

The company received the assets in 4 installments.

In the first phase, the company acquired the land use rights and exploitation rights for 5,357 hectares of oil palm plantations out of a total area of 9,470 hectares, as well as the office, oil palm processing plant, and thermal power plant owned by HA Andong Meas.

Phase 2: Acquiring land use and exploitation rights for 9,231.9 hectares out of HA Attapeu's 9,996.9 hectares of rubber plantation (8 sheets).

Phase 3: Receiving land use rights and exploitation rights for 4,733.01 hectares of rubber and 3,155.79 hectares of oil palm in Attapeu province from Hoang Anh Attapeu Company (12 documents).

In the fourth phase, the company is in the process of completing procedures with BIDV to receive back assets including land use rights and rubber exploitation rights on an area of 4,852.74 hectares owned by HA Quang Minh, land use rights and rubber exploitation rights on an area of 1,960.9 hectares owned by Heng Brothers Company Limited, and land use rights and rubber exploitation rights on an area of 3,283.7 hectares owned by CRD Company Limited.

Thus, HAGL Agrico will receive a total of over 32,500 hectares of land for industrial crops, including over 8,500 hectares of oil palm and over 24,000 hectares of rubber.

Previously, Mr. Doan Nguyen Duc - Chairman of Hoang Anh Gia Lai Group - confirmed that HAGL Agrico had paid over 1,000 billion VND to HAG to partially repay the principal of the bond issue issued by the company to BIDV at the end of 2016.

Specifically, the HAGLBOND16.26 bond issue, issued by HAG, is valued at VND 6.596 billion, with an interest rate of 9.7% per year, and is expected to mature on December 30, 2026. BIDV Bank is the bondholder of this bond issue.

In the announcement on December 26, HAG said it had paid VND206 billion to pay part of the principal of this bond lot. On December 30, the Company continued to pay an additional VND824 billion, bringing the total principal paid for the above bond lot to VND1,030 billion.

Of that amount, 1 trillion VND comes from the payment HAGL Agrico made to HAG under the tripartite agreement, while the remaining 766 billion VND is due but unpaid due to the inability to liquidate non-performing assets. This amount is expected to be paid in Q2/2025.

Regarding HAGL Agrico's business results, in the third quarter of 2024, HAGL Agrico's revenue reached VND 141 billion, a decrease of 12% compared to the same period last year.

HAGL Agrico's revenue continued to fall short of its cost of goods sold, resulting in a gross loss of VND 46.6 billion, and a net loss after tax of VND 182 billion. For the first nine months of the year, HAGL Agrico's net loss after tax totaled nearly VND 546 billion.

As of September 30, 2024, HAGL Agrico has total assets of VND 15,948 billion. The company has accumulated losses of VND 8,648 billion. Owner's equity is VND 1,859 billion while liabilities are VND 14,089 billion.

On the stock market, in the trading session on January 2, HNG shares were recorded to increase to the ceiling price of 7,000 VND/share, up 14.8% and no sellers.