|Vinamilk Strategic Planning Director Nguyen Trung, on behalf of the company, receives a corporate governnance award in Manila on November 14. — Photo vnexpress.net
HA NOI (VNS) — The Viet Nam Dairy Products Joint Stock Company (Vinamilk) was regconised as the publicly listed companies with the best corporate governance in Viet Nam.
The award was granted during the first ASEAN Corporate Governance Conference and Awards ceremony held recently in Manila, Philippines.
At the event, the top 50 publicly listed companies of the Association of Southeast Asian Nations (ASEAN) were recognised for their remarkable efforts in practicing good governance.
According to a report by the ASEAN Capital Markets Forum (ACMF), the three companies with best corporate governance in Viet Nam are the dairy producer Vinamilk, the Ho Chi Minh City Securities Corporation, and the PetroVietnam Fertiliser And Chemicals Corporation, whose tickers on the HCM Stock Exchange (HOSE) are VNM, HCM and DPM, respectively.
The ACMF's report is a compilation of corporate governance assessments of publicly listed companies in six ASEAN countries using a scorecard system, called ASEAN Corporate Governance Scorecard (ACGS), based on international best practices.
The assessments were made based on publicly available information such as annual reports, corporate websites, notices and circulars.
This year Viet Nam had 55 public companies undergoing the assessment, of which 50 are listed on the HOSE and the rest on the Ha Noi Stock Exchange.
The Asian Development Bank and the ASEAN Capital Markets Forum created ACGS project in 2012 in the hope of raising corporate governance standards of publicly listed companies in ASEAN countries and increase their visibility to investors.
In Viet Nam, Vinamilk is the only brand in the dairy sector that was honoured as the National Brand by the Government four times in a row. It also tops the list of 50 most valuable brands listed on Vietnamese stock markets, which was released by UK-based Brand Finance at the recent Viet Nam Brand Matters Forum. — VNS