The Vietnam Listed Company Awards unveiled the winning reports of the 2018 season.
|The winners of Vietnam Listed Company Awards 2018 |
The winners of the Vietnam Listed Company Awards (VLCA) 2018 have been announced yesterday evening in Ho Chi Minh City. The award ceremony welcomed the attendance of senior leaders from Vietnam’s State Securities Commission, the Hanoi Stock Exchange (HNX), the Ho Chi Minh Stock Exchange (HOSE), Vietnam Securities Depository, and representatives from 200 listed companies, securities brokerages, investment funds, and other financial institutions in the stock market.
The VLCA traces its roots back to the Vietnam Annual Report Awards, which has accompanied the growth of Vietnam’s capital market and listed firms since 2008. The Awards are jointly organised by VIR, HNX, and HOSE, with support from Dragon Capital Group.
The awards this year recorded positive changes in terms of the voting criteria, as well as the general quality of sustainability reports and corporate governance standards.
For the first time ever, the VLCA classified participants into three groups based on their market capitalisation (large-cap, mid-cap, and small-cap). By doing this, small-to medium-sized companies were also given the opportunity to compete and shine at the awards.
|The Organising Committee and Selection Panel of Vietnam Listed Company Awards 2018 |
To improve the quality of participants, the Selection Panel only selected 440 companies in the VNX-Allshare Index, instead of welcoming all listed businesses on HNX and HOSE like in previous years.
The 2018 edition is also the first time that the VLCA developed an in-depth scorecard for corporate governance, based on the Corporate Governance Scorecard by the OECD and Vietnamese laws. Based on the results of this year’s awards, the Organising Committee will release a detailed report about the current state of corporate governance at listed Vietnamese companies.
For this section, the Organising Committee has invited independent third-party judges who have experience in implementing corporate governance standards in the ASEAN region.
The Sustainability Reporting Awards also continued this year, with 10 businesses writing a separate report on their environmental and social responsibilities.
Le Hai Tra, acting chairman of HOSE and head of the Organising Committee and the Selection Panel, said that the VLCA aspires to improve the standards of annual reporting in Vietnam, especially as the country looks to raise capital from abroad.
Looking forward, the Organising Committee and the Selection Panel said that there is a lot of work to be done on corporate governance in Vietnam, as one-fourth of participants this year still scored below average on this section.
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