By THE NATION
The award was jointly presented by the Vietnam Chamber of Commerce and Industry (VCCI), Vietnam Business Forum newspaper in collaboration with the Institute for Business Studies and Development (INBUS) and Vietnam Association of Accountants and Auditors (VAA). Other companies named Vietnam’s 10 Best Corporate Governance Companies on the stock exchange included Vinamilk, Vingroup, Mobile World and PVG.
This year, all listed companies from 30 sectors were evaluated and ranked based on 21 indicators related to all aspects of business activities according to their financial statements with comprehensive evaluation methods, applying technologies to ensure accurate and objective results.
Vu Tien Loc, Chairman of VCCI said: “It’s reasonable to assess only listed companies in this index because they are the best companies in the local market, which are also the most transparent companies. These effective and transparent companies were also the ones with the most capacity and best performance. And the performance for listed enterprises on the stock exchanges are now the measurements of Vietnamese companies’ health in general.”
Since its listing on Ho Chi Minh City Stock Exchange (HOSE) on February, 2017, Vietjet’s stock (coded VJC) quickly attracted domestic and foreign investors, becoming one of the best companies on HOSE and has been selected for the VN30 index.
With more than $3 billion in market capitalisation, Vietjet has been listed as one of Forbes’ Asia Pacific Best (over a billion) in 2019. Air Finance Journal magazine also ranked Vietjet 22nd in the top 50 airlines with the world’s best operating and financial indicators. Its stocks have just been listed in Vietnam Sustainability Index VNSI by HOSE for the period starting from August 5, 2019 to July 31, 2020. The index lists the top 20 stocks on HOSE with the best sustainable development scores.
Furthermore, the airline's stocks have just listed in the basket of FTSE and VNM ETF portfolios with a total of 6 million shares, equivalent to 890 billion dongs in value.
Vietjet’s abilities in financial management and corporate governance are proven by good business performance. In the first half of 2019, Vietjet operated 68,821 flights, equivalent to 45 per cent of total flights operated by domestic airlines, transporting 13.5 million passengers in all networks. Air transport revenue reached 20,181 billion dongs in the first six months, an increase of 22 per cent and a pre-tax profit of 1,553 billion dongs, an increase of 15 per cent year on year.
Available seat kilometres (ASK) maintained well with CASK at 3.88 cents, CASK ex-fuel 2.27 cents, mainly from reducing fuel costs (down 4 per cent) and cost savings in management with operation expense reduced by 2 per cent.