# Financial distress in Vietnamese corporations > Live situation record from CLSTR: https://clstr.news/situations/financial-distress-in-vietnamese-corporations > Updated: 2026-10-13T08:38:52.000Z. Sources: 5. Developments: 2. Hoang Anh Gia Lai (HAGL) and other Vietnamese companies are experiencing severe financial distress. HAGL Agrico has reported accumulated losses exceeding 13,200 billion VND, leading auditors to issue warnings regarding its ability to continue operations. Thaco, led by Trần Bá Dương, is identified as the firm’s largest creditor. Specific challenges for HAGL include its pig farming division, which has faced significant gross losses. In the first half of 2026, the division reported a gross loss of approximately 30 billion VND. This follows a broader downward trend from 2025, where the company saw a 79% drop in pig sales revenue. HAGL attributes these agricultural losses to high feed prices, competition from imported pork, and the impact of African Swine Fever. The company is currently focusing on rebuilding its herds rather than expanding facilities. Other Vietnamese entities are also facing instability, with SCommerce reporting a 94% decrease in profits and Giao Hàng Nhanh seeing an 85% increase in debt. ## Timeline ### 2026-10-13: Hoang Anh Gia Lai faces losses in pig farming business Hoang Anh Gia Lai (HAGL) reports significant gross losses in its pig farming sector due to high feed costs, disease, and market competition, leading to a cautious strategy of rebuilding herds. 3 sources. https://clstr.news/cluster/hoang-anh-gia-lai-faces-losses-in-pig-farming-business ### 2026-09-23: SCommerce and HAGL Agrico face significant financial losses SCommerce profits have dropped by 94%, Giao Hàng Nhanh debt rose by 85%, and HAGL Agrico faces accumulated losses of over 13,200 billion VND. 2 sources. https://clstr.news/cluster/scommerce-and-hagl-agrico-face-significant-financial-losses --- Cite as: Financial distress in Vietnamese corporations. CLSTR, https://clstr.news/situations/financial-distress-in-vietnamese-corporations