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VIR Tribute Report Transparency

VIR’s awards a big tribute to greater report transparency

(July 2009)

Vietnam — Vietnam Investment Review’s Annual Report Awards 2008 has witnessed domestically-listed companies’ greater efforts towards more professionalism and transparency.

The second annual ARA 2008 last week recognised 13 companies listed in Vietnam’s two bourses, the Ho Chi Minh Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX), for their professionalism and improvements. Hau Giang Pharmaceutical (HOSE code: DHG) won the outstanding annual report prize while 11 others were celebrated, including ACB, Tan Binh Culture, FPT, Hoang Anh Gia Lai, Hoa Phat, Kinh Bac, Sacombank, TTF, Vinamilk, Savico and Vicostone.

Thu Duc House (HOSE code: TDH) was rewarded for its impressively designed report. Under the awards criteria, five-sixths of total marks were given for general information, strategies, financial and operation statements and descriptions, corporate governance relating to information from board of directors, public and investor relations.

“The prizes were given based on the ways companies publicised their information, not their business performance,” explained Le Nhi Nang, HOSE deputy director and chairperson of the examination board.

“The general requirement for an annual report was that it must provide and explain information in the clearest ways so that even unprofessional investors can grasp the key points the companies want to make,” he added.

Nang said the awards’ biggest success was to drive listed companies towards professional annual reports. “With progress, awareness and higher competence of companies in doing their reports, I believe that there are companies, which did not gain any prizes this year, will very likely win next year. Investors and the stock market will benefit from the competition,” said Nguyen Anh Tuan, VIR editor-in-chief and co-head of the organising board.

Starting from November last year, ARA 2008 was coorganised by VIR and HOSE, with Dragon Capital, a leading fund management company in Vietnam, coming on board as sponsor.

The ARA 2009, the third of the series, will begin its qualification rounds in November, this year.