Information that Cambodia has taken back 742 hectares of land from Hoang Anh Gia Lai (HAG) had a negative impact on the HAG and HNG shares, but the company said it has not received any decision from the Cambodian government to this effect.
A decade ago, the Cambodian government decided to give about 19,000 hectares of land to Hoang Anh Gia Lai.
However, the local communities in Cambodia filed a complaint in 2014 over “serious” environmental and social effects with the World Bank’s International Finance Corporation (IFC), which had invested in a fund that financed HAG’s ventures in Cambodia and Laos, according to Reuters.
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