Novaland wins best annual report award for listed companies

Thursday, Nov 28, 2019 09:00

Property company Novaland Group was on Wednesday named one of the 10 listed companies to win the 2019 Viet Nam Listed Company Awards for the best annual reports.

It was for the third consecutive year that NVL won the award. It listed at the end of 2016.

This year, for the first time, it was also chosen as one of the five listed companies with the best sustainable development report.

The annual Viet Nam Listed Company Awards are given by the HCM City Stock Exchange (HOSE), the Ha Noi Stock Exchange (HNX) and Viet Nam Investment Review magazine to reward transparency, creativity and professionalism at listed companies.

The jury this year included experts from the State Securities Commission, HOSE, HNX, Vietnam Securities Depositories (VSD), International Financial Company (IFC), Stock Investment Review, and two independent experts, Dr Tran Ngoc Tho and Dr Dang Van Thanh

The reports on sustainable development were judged by experts from the Association of Chartered Certified Accountants (ACCA) and some indepent experts.

The 2019 annual report from Novaland met all the tought standards set by the awards, featuring many innovations meeting international standards and with versions in both Vietnamese and English.

As a listed company, Novaland always focuses on shareholders’ interests by ensuring sustainable development and achieving outstanding business results.

Its constant goal is to become the most transparent listed company in the country.

Novaland is one among the few companies to pioneer modern management.

It recently created an Audit Committee, Human Resource Committee, Remuneration Committee, and Development Policy Committee.

The company’s management ensures high supervision standards by having two independent members in the five-member Board of Directors.

Furthermore, the company regularly updates itself on international trends and regulations. It is making efforts to reach the 17 United Nations’s sustainable development goals.

The other standards it targets are the OECD principles of corporate governance and ASEAN Corporate Governance Scoreboard.

Novaland has invested millions dollars to operate the Human Capital Management SAP – ERP (Enterprise Resource Planning) system to improve management and data safety.

Along with its business activities, Novaland also focuses much on its social responsibility programmes. In the last three years it has earmarked over VND300 billion for meaningful programmes like providing drinking water to rural schools, suporting the HCM City women’s basketball team, giving scholarships to outstanding students, and building schools in Dong Thap Province.

Over its 24 years of existence Novaland has supplied 27,000 units of housing to the HCM City market.

It has made unceasing efforts to become a leader in the sectors of propery, finance, hospitality, and infrastructure development.

Novaland recenlty announced the successful closure of its first US$250 million syndicated secured term loan. The landmark transaction was oversubscribed due to strong demand from banks, which allowed the company to upsize the facility to $250 million from its original plan of $150 million.

Credit Suisse AG (Singapore) was the original mandated lead arranger and bookrunner for the deal, while the Industrial & Commercial Bank of China, Taichung Commercial Bank, Taiwan Business Bank, and Taiwan Cooperative Bank joined as mandated lead arrangers and bookrunners during the senior syndication.

“Credit Suisse is pleased to support Novaland in achieving its strategic objectives by helping the company access international capital markets, raising US$1 billion across various funding solutions over the past five years.

“The expansion of Novaland’s business during its 27 years of operations is very much correlated to Vietnam’s remarkable growth story and the development of its people,” Edwin Low, CEO, Southeast Asia and frontier markets, Credit Suisse, said.

“We look forward to contributing to the further growth of the country’s economy through our role as a trusted advisor to many of Vietnam’s leading entrepreneurs and corporate.”

Many projects in HCM City and neibouring provinces will be introduced to customers at the expo and a discount of 5 per cent will be offered on all products.

The transaction attracted another nine banks during the general syndication, of which the majority represent new banking relationships for Novaland. OCBC joined as Mandated Lead Arranger; Union Bank of Taiwan joined as Lead Arranger; Cathay United Bank, King’s Town Bank, Malayan Banking Berhad and Taishin International Bank joined as Arrangers; while Entie Commercial Bank, Far Eastern International Bank and Sinopac Capital International Limited joined as Managers.

From December 4 to 8, Novaland will organise its biggest exhibition of the year, the Novaland Expo, at 26 Mai Chi Tho, District 2, HCM City.

Particpating in will be Novaland’s partners from many sectors like accomodation, lifestyle, interior and exterior design, construction and building materials, banking, entertainment, and sports.

Comments (0)