Hoang Anh Gia Lai asks police to investigate rumours

Hoang Anh Gia Lai group on Friday asked the State Bank of Viet Nam and the Economic Security Protection Agency under the Ministry of Public Security to take measures to protect the interests of its over 2,000 shareholders from false rumours.
The group’s Chairman Doan Nguyen Duc said those who have deep knowledge of finance can know of the group’s “health” through its reports, but not many people have access to official information so they might be influenced by rumours. “So we have had to ask appropriate authorities to take measures to protect the legal interests of our shareholders,” Duc said.
Duc said in recent days he had received many phone calls from friends and the press asking about the group’s banking loans. It was even rumoured that he had been put under house arrest because his company owed banks hundreds of billion dong. Actually, Duc was abroad in his own aircraft; meanwhile, the price of Hoang Anh-Gia Lai shares hit the ceiling levels in five consecutive trading sessions.
“I’m holding 55% of Hoang Anh Gia Lai’s shares worth around VND6 trillion ($352.94 million). At the current value of my shares in the stock market, I’m the richest man in the stock market of Viet Nam,” he said.
He affirmed that Hoang Anh Gia Lai doesn’t have any overdue debt. Compared to its net assets worth VND17.1 trillion, its medium- and short-term loans of VND2,514 billion are diminutive.
“I think such rumours came from Hoang Anh Gia Lai’s rivals in order to affect the prestige of myself and my group,” Duc said. (VNE)