Shareholders of the HCM City-listed Hoang Anh Gia Lai Group, which has interestsin property, hydropower development and rubber farming, have approved themanagement's plans to set higher turnover and profit figures for this year.
At its annual shareholders meeting on Marhc 19, the company announced ittargeted a net profit of 2.01 trillion VND (104.6 million USD) on a turnover of5.76 trillion VND, up 56 percent and 25 percent respectively from last year.
This year, the group will begin work on three new apartments projects inHCM City that will have more than 1,500 units – Hoang Anh Incomex, the secondphase of Phu Hoang Anh, and Hoang Anh Tan Phu – and continue work on sevenothers that are already under way.
It will also begin construction of a165,000-sq.m office block-shopping mall in the city, according to chairman DoanNguyen Duc.
In other plans, the company will plant 12,000ha of rubbertrees in Vietnam , Laos and Cambodia this year, targeting to plant 51,000ha ofrubber in the three countries by 2012. It had completed planting on 12,000ha bythe end of last year.
Two of HAGL's hydropower plants, each with acapacity of 42MW, are expected to go on stream in the second quarter while workwill begin on three others.
Shareholders also approved the payment of10-percent cash dividends for 2009 and an issue of bonus shares at the rate oftwo shares for every share owned.
This year the company will alsoconvert 1.45 million convertible bonds it issued last October into commonshares./.
At its annual shareholders meeting on Marhc 19, the company announced ittargeted a net profit of 2.01 trillion VND (104.6 million USD) on a turnover of5.76 trillion VND, up 56 percent and 25 percent respectively from last year.
This year, the group will begin work on three new apartments projects inHCM City that will have more than 1,500 units – Hoang Anh Incomex, the secondphase of Phu Hoang Anh, and Hoang Anh Tan Phu – and continue work on sevenothers that are already under way.
It will also begin construction of a165,000-sq.m office block-shopping mall in the city, according to chairman DoanNguyen Duc.
In other plans, the company will plant 12,000ha of rubbertrees in Vietnam , Laos and Cambodia this year, targeting to plant 51,000ha ofrubber in the three countries by 2012. It had completed planting on 12,000ha bythe end of last year.
Two of HAGL's hydropower plants, each with acapacity of 42MW, are expected to go on stream in the second quarter while workwill begin on three others.
Shareholders also approved the payment of10-percent cash dividends for 2009 and an issue of bonus shares at the rate oftwo shares for every share owned.
This year the company will alsoconvert 1.45 million convertible bonds it issued last October into commonshares./.
