Newly-appointed CEO Vo Truong Son.

HA NOI (Biz Hub) — The Executive Board of the Hoang Anh Gia Lai Joint Stock Company (HAGL) has appointed Vo Truong Son as the firm's general director for the 2015 to 2018 period.

Son, born in 1973, holds a masters in finance. He had previously held the position of HAGL's deputy general director.

The appointment was part of the company's announcement on April 2.

The executive board members have also approved a business plan for this year, in which it targets a pre-tax profit of VND2.1 trillion (US$98.59 million) and the issuance of 10 million shares in the company under the employee stock ownership plan (ESOP).

The company will also invest in animal husbandry, aiming to own 13,000 milk cows and 100,000 regular cows, 60,000 of which will be sold in the market.

The company will also plant palm trees on 13,000ha of land this year, bringing the total amount of cultivated land to more than 30,000ha. HAGL will build a facility in Cambodia to begin harvesting and producing in July.

For real estate, HAGL expects to complete construction work on a trade centre in Myanmar and will begin letting out spaces this month.

The centre will also include a 27-storey building that is expected to be handed over to the customer in June this year, while the 23-storey hotel is expected to be operational in September this year. — VNS