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| 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 (Biz Hub) — 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 on November 14 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 City 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 ACMF 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 honored as the National Brand by the Government four times in a row.
Vinamilk 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.
Vinamilk is worth more than US$1.1 billion in value, nearly double that of the runner up Viettel. The aggregate value of those 50 brands is about $5.5 billion, slightly higher than DBS – the most valuable bank brand in the ASEAN, which was worth $4.4 billion.
Vinamilk's total investment in Miraka Limited Company of New Zealand has risen to more than $13 million, and its stake there has increased from 19.3 percent to 22.8 percent. The company has purchased a 70 per cent stake in the US Driftwood dairy factory and a 51 per cent stake in its milk processing plant in Cambodia.
Vinamilk products are available in more than 40 countries around the world, such as Cambodia, Thailand, South Korea, Japan, China, Turkey, Russia, Canada, USA and Australia. — VNS