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Vietnam Business » Vietnam Education News » Hoang Anh Gia Lai Group Temasek sells convertible bonds

Hoang Anh Gia Lai Group Temasek sells convertible bonds

Hoang Anh Gia Chairman Doan Nguyen Duc Lai yielded information on the issue of bonds Thoi bao Kinh Saigon, irrespective of the session, where Hoang Anh Gia Lai, the group presented a restructuring plan to shareholders, potential investors in Ho Chi Minh City on afternoon of 30 July.

The well-known Vietnamese Hoang Anh Gia Lai Group hopes that the legal process will be completed in August 2010 that you sell $ 60,000,000 convertible at Temasek Holdings, an investment firm authorized by the Government of Singapore belong.

Duc said last week, Hoang Anh Gia Lai and Temasek signed a Memorandum of Understanding (MOU) through the issuance of bonds, while the question of the investments were approved by the Board of Investment by Temasek.

Hoang Anh Gia Lai are currently using the procedure in Vietnam to implement the agreement. It has discussed with the shareholders of the Group and seek the consent of the State Securities Commission (SSC) before set up a contract and signed by both parties.

Thoi Bao Kinh Duc Saigon said to you that all the procedures of 20 Be completed by August. Convertible bonds, which after a period of time involved, it will within a year.

Hoang Anh Gia Lai to try to close the adventure with Temasek soon, and the Duke said he still has no plan to issue new bonds to foreign investors, although some German and Swiss investors have expressed their willingness to buy Hoang Anh Gia Lai bonds.

Asked why choose Hoang Anh Gia Lai Temasek to sell bonds, said Duc Temasek is a great company of the Singapore government is willing to invest long term (always 10 or more years).

What will the amount of money Hoang Anh Gia Lai from the bond, Herzog said the money for projects, rubber, minerals and hydropower are used.

Anh Hoang Gia Lai has in principle the procedures for the restructuring of the holding companies and subsidiaries enveloped by five years. Hoang Anh Gia Lai is now working in many areas, from planting rubber, minerals, real estate, hydroelectric power and the manufacture of wooden furniture.

Rubber plantations is the priority of the group with the establishment of the Hoang Anh Gia Lai Rubber Corporation. The company currently owns 51 000 ha of land for rubber cultivation in Vietnam, Laos and Cambodia. It is the conduct of the business through six subsidiaries in the three countries.

According to Duc, the Group has grown 24,000 hectares of rubber in the central highlands of Vietnam and Laos and Cambodia. The group plan to expand the growth area of 64,000 hectares of rubber.

Meanwhile, the Hoang Anh Gia Lai Joint Stock Company, Hoang Anh Gia Lai minerals of General Minerals Corporation will become. The company has six branches in Vietnam, Laos and Cambodia has iron ore mines in the three countries, the reserves of 60 million tons.

Hoang Anh Gia Lai General Real Estate Corporation is formed on the basis of the Hoang Anh Construction, Housing Development Company. The company has 20 real estate projects, of which six have been completed.

Hoang Anh Gia Lai Group also has a company of hydropower development, which will invest in 17 projects with a total capacity of 420 MW.

Hoang Anh Gia The main objective of the Lai, when it comes to the restructuring of the group, is the corporate governance and improve the group more flexibility in raising funds. Duc said that the issue of convertible bonds to Temasek and other income from real estate business several million Dong Anh 5000000, Hoang Gia Lai, who is cast in its five main business units bring.

After rubber, Hoang Anh Gia Lai prioritized the development of mining, real estate development, construction and hydropower.

As expected, Hoang Anh Gia Lai to sell 10 percent share in all business areas of strategic investors and then sell another 20 percent of the shares to the public before their shares on the stock exchange, scheduled for traded second quarter of 2011 to 2014.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

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