Vinamilk named “ASEAN Asset Class” and Vietnam’s Top Listed Company for Corporate Governance


Vinamilk named “ASEAN Asset Class” and Vietnam’s Top Listed Company for Corporate Governance (PRNewsfoto/Vinamilk)

Vinamilk is the very first and only Vietnamese company recognized as “ASEAN ASSET CLASS” and at the same time, led Vietnam’s Top 3 Listed Companies according to the 2019 ASEAN Corporate Governance Scorecard results, a part of the ASEAN Capital Market Forum (ACMF)’s ASEAN Corporate Governance Initiative. The accomplishment was announced in the Annual Forum of the Vietnam Institute of Board Members (VIOD) on December 10, 2020.

The ASEAN Corporate Governance Scorecard 2019 (“ACGS”) compiled results from nearly 600 enterprises in ASEAN, 82 of which are representatives from Vietnam. The preliminary round put forward 35 enterprises with the highest score as evaluated by Vietnamese experts. Subsequently, these 35 enterprises were cross-evaluated by experts from the other 5 ASEAN countries to ensure transparency, independence, and objectivity. Vinamilk is the first and only Vietnamese company awarded in the “ASEAN Asset Class” category. To be qualified, companies must earn a minimum of 75% of the maximum attainable score of 130.

Mdm. Mai Kieu Lien – Board of Directors member, Chief Executive Officer of Vinamilk shared: “Vinamilk’s strategic direction is to proactively approach international corporate governance standards. In addition to the strong collaboration with local regulators such as SSC, HOSE, VIOD, etc., Vinamilk is very much appreciative of the contributions made by international organizations and investors, such as IFC, Mobius Capital Partners, Dragon Capital, Genesis in helping Vinamilk achieve today results.”

With the outstanding efforts in 2020, a year with much uncertainty, Vinamilk continues receiving several domestic and regional awards. Vinamilk has been continuously improving its corporate governance practices, resulting in having always been in the Top 5 Corporate Governance Report for listed companies since 2013, and being Top 10 Sustainable Development Enterprises in the manufacturing sector for the 5th consecutive year. Furthermore, scoring a hat-trick of Vietnam’s of first prize in Best Corporate Governance, Best Annual Report and Best Sustainability Report has further proven Vinamilk’s readiness for regional awards.

As of 21st Dec, Vinamilk’s market capitalization reached over USD10 billion. This dairy manufacturer is the local market leader with more than 50% market share, and its products have been exported to over 54 countries and regions including RCEP members.

According to the Organization for Economic Co-operation and Development – OECD, how businesses are built and governed is critical to a country’s economic development. Effective corporate governance means more efficient use of resources, better access to capital, better job opportunities, and the opportunity to make national and regional capital markets more sustainable.

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