11:02 | 29/01/2020 Companies
(VEN) - Forbes Vietnam has announced a list of the 100 largest public firms in the country for the first time. Featured on the list are 65 firms registered on the Ho Chi Minh City Stock Exchange (HSX), 23 firms on the Unlisted Public Company Market (UPCoM) and seven firms on the Hanoi Stock Exchange (HNX).
Forbes Vietnam evaluated the firms on revenue, profit, total assets and market capitalization according to Forbes’s Global 2000 ranking method.
Five of the top ten are private enterprises. The banking sector dominated the list with 22 firms, including six in the top ten. Petrolimex leads revenue with US$8.35 billion, while the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) tops after-tax profit with US$636 million. With US$57 billion, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) takes first place in terms of assets, while Vingroup leads market capitalization with approximately US$16.5 billion.
The PetroVietnam Gas Joint Stock Corporation (PV Gas) ranked sixth in the list, while other names in the oil and gas industry were also present. Specifically, the oil and gas industry ranked second in total number of enterprises, with 10 names, including PV Gas - sixth place; Binh Son Refining and Petrochemical Joint Stock Company (BSR) - 18th place; PetroVietnam Power Corporation (PV Power) - 27th place; PetroVietnam Technical Services Corporation (PTSC) - 39th place; PetroVietnam Oil Corporation (PVOIL) - 41st place; PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo) - 68th place; PetroVietnam Insurance Joint Stock Company (PVI) - 76th place; PetroVietnam Power Nhon Trach 2 Joint Stock Company (NT2) - 80th place; PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC) - 90th place; and PetroVietnam Transportation Corporation (PVTrans) - 93rd place.
Set apart from the list of the 50 top-listed companies from the HSX and HNX, the new list also includes firms on the UPCoM.
The first step is to gather a list of public companies, including unlisted joint stock companies with more than 100 shareholders and listed companies on the HSX, HNX and UPCoM. Next is to collect financial data in terms of revenue, profit, total assets and market capitalization based on the latest annual financial statement. Finally, Forbes Vietnam gives marks to firms based on four financial criteria.
Four Vietnamese firms were named in 2019’s Global 2000 list by Forbes, an annual ranking of the world’s biggest and most powerful public companies. They include Vietcombank, BIDV, Vingroup, and the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank).