09:31 | 03/08/2018 Companies
Forbes Vietnam on July 26 organised a ceremony to honor Vietnam’s top 50 listed companies in 2018, which account for 70.8 percent of total market capitalisation on the HCM and Hanoi stock exchanges.
|At the ceremony - Source: Forbes Vietnam|
The 50 listed companies on the two stock exchanges have recorded a combined total profit of nearly 107 trillion VND (US$4.75 billion), a year-on-year increase of 34 percent.
The firms listed with the highest revenue were the Vietnam National Petroleum Group (Petrolimex) with 153.7 trillion VND (US$6.6 billion), while Vietnam Dairy Products Joint Stock Company (Vinamilk) tops the list in terms of post-tax profit, posting nearly 10.3 trillion VND (US$442.9 million).
Property developer Vingroup is the largest company by market capitalisation, according to Forbes Vietnam, with its market value reaching US$15 billion on May 15.
“Forbes Vietnam’s sixth list of top companies in Vietnam reflects the movement of the Vietnamese economy and the securities market in the last year,” said Nguyen Lan Anh, editor of the Forbes Vietnam magazine.
“Positive conditions of the financial market have increased the number of well-performing banking-securities firms, followed by some other key industries such as real estate, construction materials and logistics,” she said.
Besides, financial-banking, real estate, retail and consumer companies account for a large proportion of the market value.
By mid-May, the total market value of the Vietnamese stock market reached US$168 billion, equal to 80 percent of Vietnam’s gross domestic product (GDP). That excludes the market value of the high-end property developer Vinhomes, which debuted on the HCM Stock Exchange on May 17 and has a market value of US$13 billion.
Forbes Vietnam applies company ranking methods of Forbes (an American Business Magazine), taking into consideration the characteristics of the businesses listed in Vietnam. The assessment is based on the financial statements audited for five consecutive years from 2013 to 2017. Forbes considered all the listed shares and arranged them by each sector group.
The list has been compiled to provide information on companies with outstanding business results and high profits for investors. Besides this, it is also to honor and encourage the spirit entrepreneurialism.