(Credit: DTCK) Large-cap, well-governed sectors will be the ones that attract investors' attention. Good gover...
(Credit: DTCK) Large-cap, well-governed sectors will be the ones that attract investors' attention. Good governance also helps to create efficiency in operations and therefore bring business results to companies. This advantage will be especially fostered when the Vietnamese stock market is officially promoted to emerging market status.
Forty of the top listed companies in information transparency 2022 were honored at the 15th Listed Company Awards Ceremony – 2022 which was recently held at the Ariyana Convention Center - Furama Resort Danang.
The event was held in conjunction with the 2022 Annual Conference of Listed Companies with the participation of the heads of the National Securities Commission, executives of stock exchanges, securities depositories and representatives of nearly 300 listed companies, securities firms, fund management companies and other financial institutions in the market.
Mr. Le Trong Minh, editor-in-chief of the investment journal, presented medals to the companion units. Photo: Le Toan
In front of nearly 600 companies listed on the two exchanges, 40 companies were honored in 3 categories: Annual Report, Corporate Governance Report and Sustainability Report. In addition, in each category, the organizing committee selects 01 companies with exceptional progress to award the "Outstanding Progress" award to recognize companies' efforts in information transparency.
Mr. Pham Hong Son, Vice Chairman of the People's Committee, presented medals to the companion units. Photo: Le Toan
In particular, in 2022, for the first time, the Organizing Committee added the 01 award to companies with good management of greenhouse gas emissions (in the Sustainability Report category). This is an award aimed at encouraging listed companies to raise awareness and pay more attention to environmental issues and the impacts of climate change, joining forces to achieve Vietnam's shared goal in its commitment to reduce net greenhouse gas emissions by 2050.
The award ceremony was attended by executives of listed companies. Photo: Le Toan
For the Annual Report (Financial Statements) section, this year's winners in the 3 capitalization groups have changed significantly from the previous year. The maximum score shows that companies are increasingly investing in the quality of reports, from the form to the layout of the content.
Mr. Dam Nhan Duc, Director of Strategy MB received the award for the Top 10 Best Financial Statements of a Large Cap Group. Photo: Le Toan
Images of production – business activities, major product designs, and typical images of achievements in the last year of the company are fully conveyed in the financial statements.
Ms. Nguyen Thi Viet Ha (fourth from right), in charge of the Board of Directors of the Department of Education and Education of Ho Chi Minh City. HCM City (HOSE) has been awarded the Top 10 Best Financial Statements 2022 by the large-cap group. Photo: The Toan.
The financial statements of this year's right group of finalists are all excellently evaluated, fully presented, attractive, informationally scientific and structurally sound Companies are also investing in writing financial statements in English to meet best practices, some companies are also doing their own sustainability reporting, and at the same time applying sustainability reporting standards according to GRI standards in the preparation of sustainability reports...
Mr. Nguyen Son (5th from right), Chairman of the Custodian, was awarded the Top 10 Best Financial Statements 2022 in the Mid-Cap Group. Photo: The Toan.
However, some financial statements have not been subject to a detailed financial analysis and have not provided sufficient information necessary to shareholders. Some financial statements have not yet focused on the richness of investor relations activities during the year.
Mr. Nguyen Tuan Anh (3rd from right), Permanent Deputy General Manager of the Hanoi Stock Exchange (HNX) awarded the best financial statements to small-cap groups. Photo: Le Toan
Many companies have not really demonstrated their commitment to corporate governance practices that are consistent with good governance standards. did not self-assess and statistic items that were not implemented in accordance with the corporate governance; and has not put in place a plan to improve corporate governance towards good practices.
Mr. Beat Schuerch, CEO of Dragon Capital Company, presented the Enterprise with Outstanding Progress Award in the Financial Statements category to Gemadept. Photo: Le Toan
For the Corporate Governance category, 2022 marks the 5th anniversary of the Corporate Governance Award in the Listed Companies Vote (VLCA).
The number of companies assessed increased year on year to reach 581 companies in 2022. The set of criteria is also reviewed and supplemented and continuously supplemented. At the end of the preliminary evaluation, the 45 highest-scoring companies were selected for the final round so that the jury could discuss and vote on the award list.
Mr. Nguyen Thanh Long, Chairman of the Board of Members of the Vietnam Stock Exchange (VNX), awarded the top 5 companies the best corporate governance report in the mid-cap group. Photo: Le Toan
In general, well-managed companies are also better-valued companies (higher price-to-earnings ratios). Large-cap, well-governed sectors will be the ones that attract investors' attention. Good governance also helps to create efficiency in operations and therefore bring business results to companies.
Ms. Ha Thi Thu Thanh, President of the Vietnam Institute of Board Members (VIOD), presented the Corporate Governance Award to the small-cap group companies. Photo: Le Toan
Looking at data from 5 years of evaluation, the average increase in score over the years is a testament to efforts to improve information disclosure and increase transparency of Vietnamese listed companies. However, the journey has only just begun. To be able to close the gap with ASEAN countries, more companies need to adopt advanced international practices. In this way, the market will regain the confidence of existing investors and strengthen the confidence of potential investors.
For the Sustainability Report category, 2022 marks the 10th time that Vietnam's listed companies have published sustainability information.
Mr. Le Trong Minh, editor-in-chief of the investment journal, received the first prize in the sustainability report category for Century Fiber. Photo: Le Toan
The trend of changing business models from a linear to a circular economy is increasingly being described. If in the last 2-3 reporting seasons, "emerging" names such as Century Fiber (STK code), Gia Lai Dien (GEM code), Everpia (EVE code) …
Mr. Dominic Scriven, Chairman of the Board of Directors of Dragon Capital, presented the award to Vinamilk's representative in the Sustainability category. Photo: Le Toan
Ms. Tran Anh Dao, Deputy Director General of Ho Chi Minh City Stock Exchange Ho Chi Minh City, head of the VLCA 2022 Organising Committee, said that with the continuous efforts of the organising committee, the activities around the survey have not only had a positive impact on changing mindset in terms of investor relations, transparency of information, especially non-financial information, but also a premise for HOSE to build and launch the VN Sustainability Index (VNSI) from 2017.
Mrs. Tran Anh Dao, Deputy General Manager in charge of HOSE presented the second prize of the Sustainability Report to Vinamilk. Photo: Le Toan
In the context where the economy - the environment - society is experiencing many fluctuations not only in the country but also in the world, the goal of sustainable business development and integration with the global community is always the top priority
Sustainability Report Award Winners. Photo: Le Toan
Regulators are working with HOSE to bring Vietnam into emerging markets. The total value of assets under management in emerging markets is $25 trillion. So, if the Vietnamese market is upgraded to emerging markets, it will be able to access this capital flow, although the ratio is not large, but only 0.4-0.5% can attract $100 billion
"This opens up opportunities for Vietnamese companies to access foreign capital, and when they want to find investment opportunities, they certainly only want to meet strong companies with good corporate governance," said Mr. Dominic, Chairman of Dragon Capital.
List of award-winning companies
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