Sonadezi Corporation named in Top 10 UPCoM Companies for well performance in information disclosure and transparency for the third consecutive time

Among the Top 10 large-scale public enterprises on UPCoM that perform well in information disclosure and transparency in 2022-2023, Industrial Park Development Joint Stock Corporation (Sonadezi, UPCoM: SNZ) was recognized by HNX for this award for the third consecutive time.

Mr. Pham Tran Hoa Hiep – Head of General Affairs Division, Person-in-charge of Information Disclosure of Sonadezi Corporation received the trophy for Large-scale Public Enterprise on UPCoM for good information disclosure and transparency in 2022-2023.

According to the report of the quality evaluation program on the information disclosure and transparency performance of large-scale UPCoM public companies on HNX in 2022-2023, there are 305 large-scale companies on the UPCoM market in Vietnam as of July 1, 2023 eligible to participate in the program, accounting for 76.13% of the total UPCoM’s market capitalization.

The published results of large-scale companies in FY 2022 showed that the average after-tax profit of large-scale companies on HNX was VND 225.98 billion; the companies with the highest loss was VND 233.76 billion; and the companies with the highest after-tax profit was VND 14,669.34 billion. There were 271/305 companies recording positive after-tax profits with an average profit of VND 259.26 billion

Top 10 large-scale public companies on UPCoM with excellent performance of information disclosure and transparency in 2022-2023

HNX executives revealed that the criteria set for quality evaluation of (ID&T) practice in FY 2022-2023 includes original 72 criteria but with adjustments in content, evaluation methods and rating scales. Evaluation criteria are designed based on regulations on information disclosure and corporate governance (CG) of large-scale companies on the stock market, international practices on information disclosure and CG, and the Code of CG according to best practices.

In 2023, ID&T quality of HNX-listed large-scale companies reached 61.3%, an increase of 2.09% compared to the 2022 average (59.21%). The 2023 evaluation results again confirmed that large-scale companies with higher market capitalization and total assets often offer better quality ID&T. These companies also have ROA and ROE ratios proportional to the performance of ID&T. In addition, there seemingly exists a negative correlation between the quality of ID&T and financial leverage ratios; but a positive correlation between the quality of ID&T and the TobinQ coefficient of large-scale companies.

Also at this conference, Sonadezi Long Binh Joint Stock Company (HNX: SZB), a member of Sonadezi Corporation, entered the Top 10 listed companies with good corporate governance on HNX in 2022-2023.

Ms. Luu Thi Thuy Van – Chief of Supervisory Board of Sonadezi Long Binh Joint Stock Company received the trophy of HNX-listed Company with good corporate governance in 2022-2023

Mr. Pham Tran Hoa Hiep – Head of General Affairs Division, and Person-in-charge of Information Disclosure of Sonadezi Corporation said: “Sonadezi Corporation includes a Parent Company (SNZ), 5 member companies practicing share trading on UPCoM, and 6 member companies listed on HOSE and HNX exchanges. Over the past years, in light of the policies and the orientation of Sonadezi Corporation Board of Directors focusing on corporate governance for sustainable development, the Parent company and its members have all paid great attention and efforts for a successful implementation of CG and ID&T. This way, SNZ has been awarded 3 times by HNX as a Large-scale Public Enterprise on UPCoM for good practice of ID&T. In addition, among many other Sonadezi member companies honored by HNX, Sonadezi Long Binh was also recognized as a Listed enterprise on HNX with best corporate governance for the consecutive second year. To date, the Sonadezi system is aiming for international standards and practices on corporate governance.”.

According to Nhan Dan newspaper: https://nhandan.vn/tong-cong-ty-sonadezi-dat-top-10-cong-ty-upcom-thuc-hien-tot-cong-bo-thong-tin-va-minh-bach-lan-thu-ba-lien-tiep-post782121.html