Stock Market VIR’s ARAs pursuing excellence

July 22, 2010 | 14:53

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The prizes are given based on the ways companies publicised their information, not their business performance

VIR’s Annual Report Awards 2010 will highlight the constant efforts of domestic listed companies, especially recently-listed companies, towards more professionalism and improvements.

The third Annual Report Awards (ARAs) this week picked out 30 companies out of more than 500 listed on Vietnam’s two bourses, the Ho Chi Minh Stock Exchange (HoSE) and Hanoi Stock Exchange (HNX), to grant one special prize, eight excellent performers and 21 others as best performers.

This year’s ARAs will also grant rewards for outstanding report design and the “best information given”, voted online by VIR readers at tinnhanhchungkhoan.vn. Details of the winning companies will be fully announced in VIR’s next publication.

Le Nhi Nang, HoSE deputy director and chairperson of the examination board, said: “The prizes are given based on the ways companies publicised their information, not their business performance. For this, the newly-listed companies in 2010 were assessed for their great efforts to professionalise their reports for better improving the companies’ images.”

The general requirement for an annual report is that it must provide and explain information in the clearest way so that even unprofessional investors could grasp the key points, Nang said.

The ARAs 2010 from March 18 to July 20, 2010, are coorganised by the HoSE and VIR’s sister publication Dau tu Chung khoan, with sponsorship from Dragon Capital.

Different from previous editions, for the first time, all listed companies’ annual reports from the HoSE and HNX can be possible candidates for awards.

Regarding the examination board, besides HoSE and ANZ Bank experts, the ARAs 2010 also include an HNX representative with assessment criteria being adjusted. The maximum mark for content is set at 80 and those for outstanding form is 20.

Nguyen Anh Tuan, VIR’s editor in chief, said: “Insightful analyses of the recent global crisis’ impacts on company operations in 2009 and their strategies for the future have been key considerations this year, given that the world and Vietnam has grappled with recent financial turbulence.”

Initiated in 2007 and first officially run in 2008, the inaugural ARAs attracted the participation of 33 the 150 enterprises listed on HoSE, with the first prize granted to Sacombank.

Meanwhile, last year’s ARAs saw Hau Giang Pharmaceutical’s (DHG) report voted as the best overall, while 11 other listed companies were acknowledged for their professionalism and improvements. Thu Duc House (TDH) was awarded for its impressively designed report.