Finance industry crowds Forbes' Vietnam list of top 50 listed firms

By Nguyen Quy   June 2, 2020 | 04:28 pm PT
Finance industry crowds Forbes' Vietnam list of top 50 listed firms
A woman rides a bicycle past a logo of Vietcombank, in front of the State Bank of Vietnam building in central Hanoi. Photo by Reuters/Kham.
Banking, securities and insurance firms dominate Forbes Vietnam’s 2020 list of top 50 listed firms with 10 representatives.

Of the 10, six are commercial banks: MBBank, ACB, Techcombank, Vietcombank, VPBank and HD Bank.

Two securities companies in the list are Viet Capital Securities and Saigon Securities Incorporation. The remaining two are Bao Viet Group and Petro Vietnam Insurance, according to Forbes Vietnam's newly- released report.

Other industry groups with a top 50 presence are real estate, construction and raw materials and multi-sector trading, with five companies named in each category, followed by pharmacy, household and consumer goods, and agriculture.

The top five real estate firms are Khang Dien JSC, Kinh Bac City Development Holding Corporation, Nam Long Group, Dat Xanh Group and Hadoco. JSC.

The multi-sector trading group comprised Masan Group, Vietnam's largest private conglomerate Vingroup, Phu Tai JSC, REE Mechanical & Electrical Engineering JSC, and Vietnam Electrical Equipment JSC.

The five construction and raw materials firms named were Hoa Phat Group, Vicostone JSC, Ha Tien 1 Cement JSC, Tien Phong Plastic JSC, and Binh Minh Plastics JSC.

Petrolimex, Vietnam's largest fuel importer and distributor, took the lead in revenue earnings with VND189.6 trillion ($8.1 billion) while Vietcombank topped after-tax profits with VND23.1 trillion ($1 billion).

According to Forbes Vietnam, the 2019 after-tax profit of the 50 companies listed on the Ho Chi Minh City Stock Exchange (HoSE) and the Hanoi Exchange (HNX) was nearly VND138.7 trillion ($5.9 billion), a year-on-year increase of 8.7 percent, the highest ever.

As of mid-May, their market capitalization was $81.3 billion, down 13.5 percent against last year.

The HoSE dominated the list with 45 of the 50 listings, leaving HNX with five.

The list was derived using a methodology which involves evaluating several metrics including sales, profits, assets, and market value. The assessment used financial statements audited over five consecutive years from 2015 to 2019 and firms’ mid-May market capitalization figures.

Forbes Vietnam did not rank the firms in a specific order of business performance, merely listing them with revenue and market cap figures.

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