HÀ NỘI — Forbes Việt Nam yesterday announced the Việt Nam Dairy Products Joint Stock Company (Vinamilk) topped the 40 most valuable companies in the country with a value of more than US$1.7 billion. This is the second time Vinamilk has reached the top in the Forbes ranking.

Forbes Việt Nam said in its statement that total value of the 40 most valuable firms reached more than $5.4 billion, an increase of 20 per cent from the previous assessment last year.

Behind Vinamilk was the military telecommunication group Viettel and property developer-retailer Vingroup, whose estimated values were $849.6 million and $299.3 million, respectively. The list closed out with the agriculture group Lộc Trời, which was assessed at $13.1 million.

Lộc Trời joined the most-valuable list in 2017 for the first time, along with Quảng Ngãi Sugar Joint Stock Company, fuel dealer Việt Nam National Petroleum JSC (Petrolimex) and Saigon Tourist.

In terms of industries, consumer goods producers and financial-banking firms outnumbered others at 19 companies.

Saigon Securities Inc (SSI) was the only brokerage included in the Forbes Việt Nam list.

Among other financial institutions were Vietcombank, Vietinbank, BIDV, Bảo Việt Holdings, MB Bank, VP Bank and Sacombank.

Three quarters of the 40 firms are already listed on the HCM and the Hà Nội stock exchanges, including two brewers Sabeco and Habeco, Mobile World Corp, Vietjet Air and property developer Novaland.

Some of the 40 companies trade their shares on the Unlisted Public Company Market (UPCoM) and the Over-the-Counter (OTC) market, such as Trường Hải Automobile, VP Bank and Techcombank.

According to Forbes Việt Nam, the evaluation was conducted based on the contribution of the company’s brand to the business performance. The most valuable brands were the firms that recorded high revenue and earnings in the industries they were leading.

Forbes Việt Nam, with support from Viet Capital Securities Co, evaluated the firms’ pre-tax earnings, loan interest rates and intangible assets.

In addition, Forbes Việt Nam was assisted by the companies whose shares are traded on the two local exchanges and UPCoM and OTC markets, while some non-traded and unlisted companies agreed to provide financial data for the evaluation.

The brand valuation is calculated on the company’s share price-to-earnings (P/E) ratio versus the market’s average P/E ratio for listed ones.

For unlisted companies, Forbes Việt Nam compared the firm’s scale and scope to others in the same industry to calculate the company’s value. — VNS