Information Needs Changing, Supplementing to Complete Investor List

According to VAFI, the list of investors is presently collected by securities companies which will report to the Ho Chi Minh Stock Exchange (HOSE), the Hanoi Securities Trading Centre (HASTC) and the Vietnam Securities Depository (VSD). This regime has shown many shortcomings. Over the past eight years, much of the information about residence, other addresses, telephone number, ID number, passport numbers and others have been changed. However, such changes are not updated by securities companies as well as the Vietnam Securities Depository. Email address is not deemed an important element in the investor information; thus, it is not inserted in current information section at the Vietnam Securities Depository. On the other hand, many investors do not receive notices and documents from listed companies although they had sent their exact addresses by registered mails. Those shortcomings have triggered many difficulties to investors and listed companies in exchange information, thus weakening investor relations activities of listed companies.

 

According to VAFI, it is urgent to amend and supplement the information of investors. Accordingly, the addresses for receiving documents by post must be the most accessible and have regular presence of investors.

 

Besides, VAFI recommends all investors to register email addresses because email is the quickest and most important tool.

 

VAFI also recommends effective use of the investor list. Accordingly, the State Securities Commission will put into law a regulation that requires the Vietnam Securities Depository to provide the shareholder list of a listed company at a specific point of time to boost investor relations. Market authorities like SSC, HOSE, HASTC and VSD should regularly publish important information to investors by email and pay more attention to investors to inform them of laws and market development policies. In the world, email-based voting has been accepted in many countries. In Vietnam, the Law on Electronic Transaction is the prerequisite for email-based voting and the matter is the instruction for specific implementation.