HAGL Joint Stock Company has informed of business operations in 2010 as follows:
* Chairman Doan Nguyen Duc signed a contract to sell 400,000 tons of iron ore to China in 2010 at the spot price.
* In 2010, HAGL started getting revenue from iron ore and hydro-power. Iron ore has been exploited from HAGL’s mine with iron ore reserves of 20 million tons in Laos. Estimated profit from iron ore in the third quarter of 2010 will increase at least VND 600 billion.
* HAGL is going to sell 1 million tons of iron ore in 2011 and 1.5 million tons in 2012 mainly to China.
* HAGL’s current iron-ore reserves are about 60 million tons. Beside the iron mine in Laos, HAGL also has another in Cambodia with over 30 million tons of iron ore reserves.
* Pre-tax profit in the first quarter of HAGL can be double in comparison with the same period in 2009 and can reach to VND 700 billion based on the sale of apartments of 3 projects: Phu Hoang Anh, Hoang Anh River View and Hoang Anh An Tien, as follows:
+ Hoang Anh An Tien project: 100% sold
+ Hoang Anh River View project: 90% sold
+ Phu Hoang Anh project: 85% sold
* Moreover, the profit in the first quarter is also from traditional productions such as furniture, granite products, construction, hotels, etc.
* The pre-tax profit in 2010 is expected about VND 2,700 billion.