HCM CITY — Ha Do Joint Stock Corporation, a real estate firm, topped the list of 50 top performing enterprises listed on the stock exchange announced by the Nhip cau Dau tu (Investment Bridge Span) weekly.
It was followed by Petro Viet Nam Southern Gas JSC, real estate developer Vincom and the dairy firm Vinamilk.
"Our survey aimed to find out what were the strong and weak points, as well as the vision pursued by enterprises in the last three years so as to figure out what advantages they will have in the future," said Dang Nhat Minh, editor-in-chief of the weekly.
Based on the "Bloom-berg business week 50" and "Fortune 50" listings, the magazine researched the business effectiveness of 87 of 701 companies listed on the stock exchanges in HCM City and Ha Noi.
The assessment was based on four growth indicators: turnover, profit, return on equity (ROE) and return on capital (ROC) in the 2009-11 period.
These 87 enterprises were those that had a charter capital of at least VND500 billion (US$25 billion), a yearly turnover of VND200 billion ($10 million) and annual after tax profits of at least VND20 billion ($1 million) each year.
The short-listed companies were in 23 different industries (based on Industry Classification Benchmark' standards by Dow Jones and New York Stock Exchange).
Data was taken from Bloomberg, Thompson Reuters and original financial reports of enterprises.
The top two or three enterprises in each industry were selected and compared to each other for a position in top 50 list.
"We would like to encourage enterprises with good governance as well as sound corporate and long-term development strategies, also search for talented leaders with strategic visions and brilliant thinking," said Tran Trong Tu, editorial general secretary of the magazine.
The magazine has carried out many interviews with the CEOs of these 50 companies to acknowledge their vision, ability to implement long-term strategies and maintain business stability.
However, the research also reflects economic cycles and macro economy management policies, unstable banking interest rates and high dependency of enterprises on banks, the weekly said. For several years before the recession hit, credit growth had reached 30 per cent each year, helping construction and related industries, and the performance of real estate market and banks had rocketed. — VNS