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HAG: Resolution of the BOD
HAGL Joint Stock Company announced the resolution of the Board of Directors on January 06, 2012:
Article 1: The Board of Directors unanimously approved the investment plan for 2012:
• Rubber industry: plant 15,000 hectares of rubber trees, comple the target of 51,000 hectares in Vietnam, Laos, Cambodia. In July 2012, HAGL will begin exploiting latex from HAGL’s first rubber trees in Laos.
• Sugar industry: plant and harvest 5,000 hectares of canes. Build and put a sugar factory into operation with a capacity of 7,000 tons of canes a day in Quarter IV/2012.
• Hydropower industry: complete and put Ba Thuoc 2 Project (80MW) and Dak Srong 3B (19.5MW) into operation in Quarter I/2012. Build Ba Thuoc 1 (60MW) and Nam Kong 2 (66MW).
• Iron ore industry: manufacture and sell 500,000 tons of fine ore in Gia Lai, Kontum, Thanh Hoa and Laos mines. The mine in Laos will be exploited in Quarter IV/2012.
• Property industry: complete Block 5 of Phu Hoang Anh – Stage 1 in Quarter I/2012. Complete An Tien Project in Quarter II/2012.
Article 2: The Board of Directors unanimously approved the profit before tax for 2012: VND1,700 billion, equal to the profit in 2011.
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