Vietjet certified as best corporate governance company on Vietnamese stock exchanges

Leading companies on the stock exchanges including Vinamilk, Vietjet, Vingroup, Mobile World and PVGas have been awarded the certificate of best financial and corporate governance company on the Vietnamese stock exchange in 2019.

The certificate as granted by Vietnam Chamber of Commerce and Industry (VCCI), Vietnam Business Forum newspaper in collaboration with the Institute for Business Studies and Development, Vietnam Association of Accountants and Auditors (VAA).

This year, public companies from 30 sectors are evaluated and ranked based on 21 indicators related to all aspects of business activities according to their financial statements with comprehensive evaluation methods, applying technologies, ensuring accurate and objective results.

Chairman of VCCI Vu Tien Loc said: “It’s reasonable to assess only listed companies in this index. Because they are the best companies in Vietnam market, which also the most transparent companies. The effective and transparent companies were also the best capacity and performance. Enterprises on the stock exchanges are measurements of Vietnamese companies in general.”

Vietjet Air has been awarded for the second times with two awards included the Best financial management in Transportation industry and Top 10 corporate governance companies on the Vietnamese stock exchanges. Since the first listing on Ho Chi Minh Stock Exchange on February, 2017, VJC stocks of Vietjet have quickly attracted domestic and foreign investors, becoming one of the best companies on Ho Chi Minh Stock Exchange, selected on VN30 index in the first listing year.

Up to now, with more than $3 billion market capitalization, Vietjet is one of Forbes’ Asia Pacific Best over a billion in 2019. Air Finance Journal magazine also ranked Vietjet at the 22nd in the top 50 airlines with the world’s best operating and financial indicators. 

VJC stocks have just been listed in Vietnam Sustainability Index VNSI by Ho Chi Minh Stock Exchange for the period starting from August 5th, 2019 to July 31st, 2020; which included top 20 stocks of HOSE listed companies that have the best sustainable development scores. 

VJC stocks have just listed in the basket of FTSE and VNM ETF portfolios with the total values of both ETFs are 6 million shares, equivalent to VND890 billion.

Vietjet’s abilities of financial and corporate governance are proved by good business performances. 

In the first half of 2019, Vietjet operated 68,821 flights, equivalent to 45 per cent of total flights operated by domestic airlines, transported 13.5 million passengers in all network. Air transport revenue reached to VND20,181 billion, an increase of 22 per cent and profit before tax was VND1,553 billion, an increase of 15 per cent year on year. 

Available seat kilometers maintained well, CASK was 3.88 cents, CASK ex-fuel was 2.27 cents, mainly from reducing fuel costs (decreased 4 per cent) and cost savings in management, operation (reduced by 2 per cent).