On July 26, 2018, Forbes Vietnam has honored Top 50 best listed companies in Vietnam in 2018 at Gem Center, HCMC.

The “Vietnam’s 50 Best Listed Companies ” identified by Forbes is the list of the best performing companies through published financial indicators, including companies listed on Hochiminh Stock Exchange (HSX) and Hanoi Stock Exchange (HNX).

According to Forbes Vietnam, top 50 companies together hold a market cap of 70.8% of total market cap of HSX and HNX. Total profit of listed companies reached up to 107 trillion, up 34% yoy. The sixth listing of Forbes Vietnam saw the breakthroughs of many big companies, including those from the private sector such as Vingroup, Hoa Phat, VPBank or Mobile World. Vingroup topped the list in terms of market capitalization.

Regardless of the market corrections in recent weeks, the overall picture over the past 12 months Vietnam stock market has witnessed many positive signs: the VNIndex broke the old record, set a new peak of 1,207 points in April this year; the derivative market goes into operation; the process of divesting capital from leading companies such as Vinamilk and Sabeco has surpassed expectations. Many leading private companies such as Vinhomes, Vincom Retail, VPBank, HDBank and Techcombank have raised the size of the market. Up to the middle of May, 2018, Vietnam’s stock market cap reached 168 billion US dollars, equivalent to 80% of GDP.

To form this list, Forbes Vietnam uses the Forbes (US) company rating method, taking into account the characteristics of listed companies in Vietnam. The data used for the assessment is based on the audited financial statements of the five consecutive years of the period from 2013-2017 (in the case of companies with financial years ending mid-year Forbes Vietnam uses the data of last fiscal year).

Assessment method:

Forbes Vietnam reviewed all listed shares on the HSX and HNX and sorted them by sector. The companies then underwent 3 rounds of assessment.

In the preliminary round, companies which fall into following cases will be eliminated:

  • Company currently in the red,
  • Company in the process of delisting,
  • Company’s market capitalization or revenue under VND 500 billion,
  • Subsidiary with operations dependent on a parent company which has already been assessed.

In the quantitative round, companies are rated according to the double-digit growth rate in terms of revenue, profitability, ROE, ROC and EPS growth for the 2013-2017 period with the support in calculation from Viet Capital Securities (VCSC).

Next, in the qualitative round, Forbes Vietnam independently reviews the level of corporate sustainability such as brand, corporate governance quality, past profit origins, and sustainable development prospects. Companies that have repeatedly violated the disclosure obligations of two stock exchanges, questioned whether to manipulate their stock prices or show signs of poor transparency would be disqualified.

This year marked Vinh Hoan’s 5th consecutive year appearing in Forbes’ list since 2014.



Ms. Hoa Truong – VHC’s Sales Director (middle) received the award at the Award Ceremony of Forbes at Gem Center

See full list of the top 50 best listed companies in Vietnam in 2018.