Vietnam agri major Hoang Anh Gia Lai changes logo colors

Hoang Anh Gia Lai Group, which has decided to focus on cultivating bananas and durians and growing banana-fed pigs, will adopt a logo with new colors starting April 1.

A Hoang Anh Gia Lai JSC statement says that from April 1, it will start using the new logo, which has the same design as the old one, but with three new colors – yellow, brown and white.

The company, listed on the HCMC Stock Exchange (HoSE) as HAGL, says the color change reflects its objective of developing clean agricultural goods by deploying the circular agriculture concept.

“HAGL places a high value on technological solutions that recycle byproducts and waste from farming and animal husbandry to service the agricultural production process again, resulting in a closed chain,” it says.

On March 4, HAGL and LPBank inked a two-phase VND5,000 billion ($201 million) finance deal. In the first phase, the bank will disburse VND3,000 billion ($121 million) for investments in new planting, care, and development of its three core products.

This year, HAGL hopes to cultivate durian and banana on 2,000 hectares and 9,000 ha; increasing it to 3,000 ha and 10,000 ha, respectively, by 2025. By 2026, it expects to have a total of 25,000 ha of banana, durian, and others grown in Vietnam, Laos, and Cambodia.

In addition to developing durian cultivation, the company will continue to expand its clean land fund and prioritize investments in infrastructure and packaging plants to boost productivity and quality.

HAGL is currently implementing a plan to issue 130 million individual shares, mobilize capital to buy back bonds, help subsidiaries repay debt, and supplement working capital.

On February 26, the corporation said it had received purchase registrations from several investors, including a man named Le Minh Tam (28 million shares), LPBank Securities (50 million), and Thaigroup (52 million).

Currently, HAGL's major source of earnings is banana and pig farming. In the first two months of the year, HAGL earned VND1,043 billion ($42.1 million), VND630 billion ($25.4 million) of which came from bananas, VND201 billion ($8.1 million) from cattle, and VND2,012 billion ($81.2 million) from supporting industries.

The company reports that banana revenues jumped 55% year-on-year in the first two months of this year as a result of expanded areas. The livestock division failed to fulfil expectations since market prices in 2023 remained low and the company did not grow herds.

The firm expects revenues to increase dramatically in the third and fourth quarters of this year when part of the durian area is officially exploited. Durian grown in Vietnam will bring revenues from August-September and in Laos from October-December.

The company has high expectations for durian because of its high profitability and appeal among Asian customers. Furthermore, European countries and the U.S. have also begun to import the fruit.

According to HAGL leaders, China has a vast consumer market, but only 5% of the population consumes the fruit due to exorbitant costs (about VND500,000 or $20.19 per kilogram). As a result, the market potential for durian consumption in China remains significant.