Vietnam 20 Listed Firms Win High Credit Ratings Awards
Twenty companies listed on Vietnam’s two stock exchanges have been granted with awards today [August 25] for achieving high credit ratings under a competition held by the Credit Information Center (CIC) of the State Bank of Vietnam and the U.S. credit information firm Dun & Bradstreet.
They were selected from 539 companies, including 240 on the Hochiminh Stock Exchange and 299 on the Hanoi Stock Exchange, excluding listed banks and funds.
AAA ratings were given to 82 firms on the southern bourse and 83 ones on the northern bourse.
A company with an AAA rating has highly effective operations, long development prospects, strong financial capacity, a good debt payment history and very low risk. Other criteria were high earnings per share (EPS), return on total assets (ROA) and return on equity (ROE).
Up to 66.6% of the 539 companies were rated from AA to BB while the number of firms with medium ratings rose to 15 from nine last year.
The followings are the 20 outstanding firms:
HOSE:
- Ben Tre Aquaproduct Import and Export JSC (ABT)
- Binh Minh Plastic JSC (BMP)
- Hau Giang Pharmaceutical (DHG)
- Lix Detergent JSC (LIX)
- Lam Son Sugar JSC (LSS)
- Dry Cell and Storage Battery (PAC)
- Saigon Beer Transportation JSC (SBC)
- Vietnam Fumigation JSC (VFG)
- Vietnam Dairy Products JSC (VNM)
- Vietnam Container Shipping JSC (VSC)
HNX:
- Doan Xa Port JSC (DXP)
- Hapaco Hai Au JSC (GHA)
- Hanoi-Hai Duong Beer JSC (HAD)
- Ninh Binh Thermal Power JSC (NBP)
- Nhi Hiep Brick-Tile JSC (NHC)
- Tien Phong Plastic JSC (NTP)
- PAN Pacific Corp. (PAN)
- Sai Son Cement JSC (SCJ)
- Lam Dong Foodstuffs JSC (VDL)
- Viglacera Tu Son Ceramic JSC (VTS)
The credit rating is aimed to promote local listed enterprises to improve corporate performances and provide a reference for investors and financial institutions. The annual ratings are based mainly on state-audited financial reports, banking loans and non-financial services, which are assigned with a grade from triple A down to C.
In 2009, the center rated 113 listed firms with triple A, out of 316 registered enterprises. Top 20 companies included Binh Dinh Mineral JSC (BMC), Vietnam Dairy Products JSC (VNM) and Tien Phong Plastic JSC (NTP). (Dau tu Chung khoan Aug 25, Dau Tu Aug 25)
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