14:26 | 10/12/2017 Companies
Property developer VinGroup was named the biggest private firm in 2017 by the Vietnam Report Company on December 5.
|One corner of Vinpearl Da Nang - Photo: Vinperalpremiumdanang|
The company’s rational investment process and business development strategies helped secure the honour.
As of September 30, the group’s total assets were calculated at nearly 205 trillion VND (9.02 billion USD), up 24.4 trillion VND (1.07 billion USD) from the end of 2016. Accumulated net revenue in the first nine months in 2017 increased 65 percent year on year to 57.1 trillion VND (2.51 billion USD) thanks to good growth of property transactions, resort services, entertainment, retail sales and education.
Earlier, the group’s four trade brands, Vinhomes, Vincommerce, Vinpearl and Vincom Retail, entered Top 50 Most Valuable Vietnamese Brands 2017 by Brand Finance, a valuation and strategy consultant.
Vinhomes ranked fourth with brand value of 604 million USD, up 18 percent from last year. This is the second consecutive year Vinhomes has entered the list.
Meanwhile, Vincommerce, Vinpearl, and Vincom Retail placed 19th, 26th and 32nd position, respectively.
The Vincom Joint Stock Company (VinGroup) was established in May 2002 with initial charter capital of just 196 billion VND (9 million USD). The company has emerged as a prominent player in retail, office and commercial real estate with many large projects, including the Vincom Mega Mall Royal City in Hanoi, said to be Asia’s largest underground retail and entertainment complex.
In January 2012, Vinpearl JSC merged into Vincom JSC to form VinGroup JSC with charter capital exceeding 7 trillion VND (308 million USD). The group has positioned itself as the leading multi-industry corporation in Vietnam. Its revenues rose to 57.7 trillion VND (2.6 billion USD) in 2016 along with its rapid expansion into retail, healthcare, education, automobile production and agriculture industries.
VinGroup has been planning to place itself on the global economic map. VinEco, the group’s foray into the agriculture sector, which provides safe and clean food, plans to export some of Việt Nam’s agricultural products to Singapore, Malaysia, Hong Kong, Japan and Dubai. In the healthcare industry, the company is collaborating with partners in the United States, Japan, France and Singapore to treat serious diseases like cancer, diabetes and cardiovascular problems.