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Awards to honour business efforts to weather crisis
The 2009 national leading stock brand award will honour enterprises in the stock market for their attempts to overcome the financial crisis and to protect investors’ benefits, according to organizing board chief Nguyen Thanh Ky.
‘We understand how hard the market members have tried to cope with the financial tsunami and its aftermath,’ Ky said at the award launched yesterday.
Vietnam’s leading stock brand is an annual award for investors who provide first-class enterprise assessments and growth prospect analysis. The criteria for the award includes earning performances, market capitalization, disclosure transparency and trustworthiness, among others.
Financial reports remained the key criterion for appraisal, Ky said. ‘But we also want to consider the companies’ attempts to overcome the market struggle because the market has experienced its toughest time.’
Board member Nguyen Phuc Long said financial reports would be audited to avoid inaccurate evaluation. ‘The audited reports help us define the growth rate of each participant, leading to an objective appraisal. Our target is to create a reliable assessment of each enterprise,’ Long said.
‘Qualitative criteria such as the trustworthiness will be based on the assessments of State Securities Commission market regulators,’ Long said
Appraisal group member Nguyen Bang Tam said investors’ relations would be another basis for the qualitative assessment. ‘We have seen some quick reactions from companies to investors, which should be encouraged to make the market more transparent,’ Tam said
About 50 public firms have registered to participate, Long said. ‘We planned to award 150 enterprises but it would depend on the number registered. We have four months from May for registration,’ he said.
The award would also be open to enterprises who were under stock exchanges’ observation or applying to the list, he said. ‘We want to assess every participant.’
Last year, about 140 enterprises achieved leading stock brand status, including trademarks such as Sai Gon Thuong Tin Commercial Bank and Bao Viet Group. (VNS)
nhandan, vietnamnews
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