EVNPECC4 was honored as one of the 15 outstanding listed companies on the Hanoi Stock Exchange in 2019-2020
On October 30, 2020, the Hanoi Stock Exchange (HNX) organized the Annual Business Conference 2020 in Quy Nhon City.
The conference was attended by 250 delegates from listed companies and registered trading participants at HNX, the National Financial Supervisory Commission, the Institute of Brand and Competition Strategy Research, the State Securities Commission (SSC), the Enterprise Finance Department (Ministry of Finance), the Central Institute for Economic Management and Research, the Vietnam Securities Depository, the Ho Chi Minh City Stock Exchange (HOSE), experts from economic research institutions, and media organizations.
During the conference, HNX held a ceremony to announce the listed companies and recognize their outstanding performance in information disclosure and corporate governance transparency (IDCGT) for the years 2019-2020. This was aimed at honoring and promoting the efforts of these companies in complying with IDCGT regulations and practicing effective corporate governance.
Speaking at the conference, Mr. Pham Hong Son, Vice Chairman of the SSC, congratulated HNX on successfully organizing the Annual Business Conference 2020 and extended congratulations to the honored companies.
With the company's efforts and endeavors during 2019-2020, Power Engineering Consulting Joint Stock Company 4, with the stock code TV4, was honored as one of the 15 outstanding listed companies on HNX in 2019-2020.
The 15 companies that demonstrated exemplary performance in information disclosure and corporate governance transparency in 2019-2020 are as follows:
- Viet Tien Son Real Estate Joint Stock Company.
- Bao Viet Securities Joint Stock Company.
- CEO Group Joint Stock Company.
- Danameco Medical Joint Stock Company.
- Lam Dong Investment and Hydraulic Construction Joint Stock Company.
- MB Securities Joint Stock Company.
- NET Detergent Joint Stock Company.
- Tien Phong Plastics Joint Stock Company.
- PetroVietnam Chemicals and Services Joint Stock Company.
- Vietnam Petroleum Technical Services Corporation.
- Safoco Foodstuff Joint Stock Company.
- Saigon-Hanoi Securities Joint Stock Company.
- TNG Investment and Trading Joint Stock Company.
- Power Engineering Consulting Joint Stock Company 4 (EVNPECC4)
- VICOSTONE Joint Stock Company.
This year, the quality evaluation program for information disclosure and transparency (ID&T) selected 278 large-scale public companies, an increase of 41 companies (17.3% compared to 2019), which were public companies registered for trading before April 20, 2019.
The average ID&T score for the listed public companies on HNX in 2019-2020 was 58.01%, with 219 out of 278 public companies scoring higher than the average. Public companies in the UPCoM achieved a higher average ID&T score of 58.42%.
The public companies focused more on fulfilling compliance criteria, with a compliance achievement rate of 62.08%. However, the implementation of customary criteria was still relatively low, below the average at 33.75%.
Public companies with a higher state ownership proportion performed better in information disclosure and transparency.
Public companies with separate Chairman of the Board and CEO positions achieved an average ID&T score of 58.75%, higher than those with the Chairman of the Board serving as CEO, which scored 53.48%. Public companies that established subcommittees under Board of Directors as regulated in Circular 155 achieved an average score of 64.13%, while those without subcommittees scored 57.61%. Additionally, public companies with published internal regulations on corporate governance had an average score of 60.82%, higher than those without publication (55.36%).
The ID&T score positively correlated with the business performance measured by Return on Equity (ROE) and Return on Assets (ROA). The results also indicated that a 1% increase in the ID&T score corresponded to a 0.1% increase in ROA and a 0.12% increase in ROE. This provides good evidence to encourage and promote better compliance with regulations and customs regarding ID&T.
Source: HNX