Monday, August 15, 2022 4:16:42 PM - Markets open
VN-INDEX 1,274.20 +11.87/+0.94%
HNX-INDEX 303.97 +0.55/+0.18%
UPCOM-INDEX 92.64 -0.20/-0.22%
HAG: shares continue to trade under supervision of HoSE
Vietnam News - 9/8/2021 5:00:01 PM
 (0 ratings. You must sign in to rate.)
The Hồ Chí Minh Stock Exchange (HoSE) has decided to keep Hoàng Anh Gia Lai JSC (HAG) shares under its control.
 
Accordingly, on August 30, HoSE received Hoàng Anh Gia Lai’s semi-annual reviewed consolidated financial statement for 2021. Of which, profit after tax of the holding company’s shareholders in the first six months of 2021 is VNĐ18.21 billion (US$800,661) and the undistributed profit after tax as of June 30 is negative VNĐ7.37 trillion.
 
Besides the losses, auditors also noted that the company has an accumulated loss of nearly VNĐ7.1 trillion in its consolidated financial statement. 
 
In addition, as of June 30, the company violated a number of commitments under the loan contract. These conditions indicate the existence of uncertainties, raising doubts on Hoàng Anh Gia Lai’s working ability.
 
Therefore, HoSE continues to maintain its supervision over HAG shares and will consider the next course of action after receiving its audited consolidated financial statement in 2021. 
 
Regarding the audit's exception, Hoàng Anh Gia Lai explained that the company has planned for the next 12 months, including the expected cash flow to be generated from a part of financial investments liquidation, debt collection from partners and cash flow generated from ongoing projects, at the date of its financial statements for the first half of 2021.
 
It is also in the process of working with the lenders on correcting the breached terms of the relevant loan agreements. Accordingly, the company can repay the debts when they become due and continue operating in the next accounting period. 
 
Under these conditions, the company’s Board of Directors prepares the interim financial statements on the basis of satisfying the ongoing concerns.
 
Moreover, Hoàng Anh Gia Lai also approved collecting shareholders' opinions on the use of equity surplus to reduce accumulated losses with a total value of nearly VNĐ3.3 trillion.
 
On the stock market, HAG shares traded lower at VNĐ5,100 per share yesterday, down 1.93 per cent. VNS
 
Read original article here
 
Newer News
18/11 TAR: Can Tho company to export 15,000 tonnes of rice to RoK​
09/11 French expert pins high hope on foreign companies’ prospects in Vietnam
15/10 FLC: Bamboo Airways opens Hà Nội-Điện Biên route
Older News
16/08 VPB: VPBank's charter capital to reach $3.3 billion by 2022
15/07 HVN: Vietnam Airlines to raise over $346 million through share issuance
08/07 GVR: Rubber group looks to boost industrial zone development
07/07 GVR: Looks to boost industrial zone development
07/07 HVN: Vietnam Airlines signs 173.7-mln-USD credit deal with three banks
05/07 HVN: Vietnam Airlines, SeABank sign 2-trillion-VND credit contract
29/06 VIC: Car maker VinFast to expand dealership network to Laos
02/06 POW: POW faces risk of being kicked out of VN30-Index
23/02 KDC: KIDO Group aims for profit of 800 billion VND in 2021
13/01 HNG: HAGL Agrico shareholders approve new development strategy
 
Newsletter Signup
Top Stories
REE: HSBC arranges VND900 billion bilateral green loan to REE Corporation
Việt Nam's economic growth forecast at 7.5 per cent in 2022: World Bank
Shares to move up after testing supply and demand
Việt Nam in the headwinds of global rate hikes and inflation
Shares pierce May-bottom on weak investor sentiment
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,274.20 +11.87/+0.94%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.