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December 1, 2021, 5:12 am

HAGL snubs new Global Witness accusation

(11:15:46 AM 18/11/2013)
( - Hoang Anh Gia Lai Joint Stock Company (HAGL) has rebuffed a fresh accusation which Global Witness made on Thursday, just a day before the local listed firm sells share rights at domestic property firm An Phu.

The HAGL chairman, Doan Nguyen Duc, dismissed Global Witness’s accusation as false, saying he did not care about what Global Witness said in its statement issued on Thursday.

“If HAGL had not abided by laws in Laos and Cambodia, we could not have been able to keep doing business there. If we had committed any wrongdoing, their governments would not have granted us licenses,” said Duc.

In its statement on Thursday, Global Witness said HAGL’s plantations in Laos and Cambodia had been damaging the environment and had destroyed large areas of forest. It recommended international financial institutions withdraw the capital they had poured into HAGL in the past.

HAGL is planning to offer An Phu share rights to its shareholders. For every 10,000 HAGL shares held, shareholders are eligible to buy 458 shares of An Phu.

Exactly six months ago, Global Witness made a similar accusation.

When Premier League club Arsenal recently came to Vietnam for a friendly at the invitation of Doan Nguyen Duc, Global Witness also issued a statement requesting Arsenal to cut ties with HAGL.

Source: thesaigontimes

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