Mr. Tran Ba Duong: HAGL Agrico is a ‘dead body’, Thaco must try to save it or else how to claim 12,000 billion?

At the 2025 Annual General Meeting of Shareholders, HAGL Agrico announced a revenue plan of 1.088 trillion VND, significantly increasing from 2024. The fruit segment, mainly bananas, is expected to contribute 595 billion VND. The company is undergoing a crop transition, converting 3,832 hectares of rubber to bananas and cattle breeding. Financially, HNG is projected to incur a loss of 854 billion VND in 2025, mainly due to the costs of converting orchards. Chairman Tran Ba Duong stated that HNG is like a ‘dead body’, with Thaco bearing 12 trillion VND in debt. He emphasized that if HNG does not improve its situation, there will be nothing left to reclaim. Despite current poor numbers, he remains optimistic about HNG’s potential. The company needs to achieve higher productivity in banana cultivation to improve financial conditions, while addressing legal issues related to the project in Laos. HNG has no plans for capital increase or merger with Thaco Agri.