Vietnam Listed Company Awards announced its 2018 season today, with greater emphasis on corporate governance and a new classification system for the winners.
|The press conference took place this morning in Ho Chi Minh City |
This morning, Vietnam Listed Company Awards, co-organised by the Ho Chi Minh City Stock Exchange, the Hanoi Stock Exchange, and Vietnam Investment Review under the sole sponsorship of Dragon Capital Group Ltd., announced its 2018 edition.
Vietnam Listed Company Awards (VLCA) is an extension of Vietnam Annual Reports Awards, which has accompanied the growth of the Vietnamese stock market and listed companies throughout the past ten years (2008-2017).
Besides the annual reporting and the sustainability reporting awards, this year’s contest will conduct an in-depth review of the corporate governance standards at listed companies, with a tailored set of criteria. The aim of this corporate governance review is to encourage Vietnamese listed firms to adopt international standards of governance and promote sustainability.
The corporate governance standards developed by VLCA’s Organising Committee are based on the standards of OECD countries, with adjustments to fit the current situation at Vietnamese listed firms and the Vietnamese law.
|The Organising Committee |
Beside the annual reports, judges will also take into account reliable information published by companies between July 1, 2017 and April 30, 2018 via other channels, such as their own or policymakers’ website. An independent third-party judge will be invited to evaluate the corporate governance section.
Similar to previous editions, the preliminary results of VLCA and the corporate governance section will be checked by global auditors Deloitte, E&Y, KPMG, and PwC to ensure the highest levels of transparency, impartiality, and professionalism.
Another new aspect of VLCA this year is that participating companies are listed on the HSX and HNX. The participants will be classified into three groups based on their market capitalisation (large, middle, and small-cap). This classification will create opportunities for small-and medium-sized companies, encouraging them to join the awards and receive recognition.
|Various media outlets attended the press conference |
The preliminary round and auditing of results will end on August 31, 2018. The final round will end on September 15, 2018. The awards ceremony is expected to take place in October 2018.
Le Hai Tra, acting chairman of HOSE and co-head of the Organising Committee, said, “As the Awards reach the 11th year, we continue to feel a strong responsibility to continue the Awards, which has had a positive impact on listed Vietnamese companies, investors, and the entire market in general. This year, we are determined to raise the quality and reputation of the Awards.”
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