FPT honored in the Top 10 large-cap companies with the best corporate governance in 2023

Within the framework of the Listed Enterprises Conference and the Listed Enterprises Awards Ceremony (VLCA) 2023, organized by the Ho Chi Minh City Stock Exchange (HoSE), FPT was honored in the Top 10 Large-Cap Enterprises with the Best Corporate Governance in 2023.

FPT representative received the award

Based on the criteria for assessing compliance with current legal regulations on corporate governance and the application of good corporate governance practices, the Organizing Committee selected 104 enterprises with the best corporate governance to enter the final round. The enterprises were divided into 3 capitalization groups, of which 34 enterprises belonged to the large-cap group, 34 enterprises belonged to the medium-cap group and 36 enterprises belonged to the small-cap group. 25 enterprises in the 3 capitalization groups with good corporate governance practices were honored by the Organizing Committee, thereby affirming their worthy efforts in governance effectiveness.

In particular, in 2023, the Corporate Governance category will have many major changes in the assessment criteria. In the face of serious and complicated climate change, the Organization for Economic Cooperation and Development (OECD) has updated and supplemented new rules in corporate governance, emphasizing the integration of ESG (environment, society, governance).

Accordingly, the VLCA Organizing Committee has upgraded the 2023 Corporate Governance Assessment Criteria to a higher level, with the addition of 18 questions, including 1 question on organizing the general meeting of shareholders, 2 questions on nominating members of the Board of Directors to enhance diversification and 15 questions on sustainable and resilient development.

FPT is also the only technology stock ranked in the list of 20 stocks in the VNSI (Sustainable Development Index) index evaluated by HoSE, with a total ESG (Environment - Society - Governance) score of 76%. Specifically, in the environmental score category, FPT scored 65% while the average score of the VN100 group was 60%; in the social score category, FPT scored 84%, the average of the VN100 group was 67% and in the corporate governance score category, FPT scored 70%, the average of the VN100 group was 65%.

According to experts, well-governed businesses are also better valued (higher P/B ratio), receive more attention from investors and increase the opportunity to access long-term capital from the market. At the same time, good corporate governance creates a framework and mechanism to better protect the interests of investors and stakeholders as well as ensure sustainable development and better resilience for businesses.

By the end of November 2023, FPT Corporation had completed 90.3% of the revenue plan and 94.4% of the pre-tax profit plan for the whole year of 2023, equivalent to VND 47,201 billion in revenue, up 20.3% over the same period and VND 8,545 billion in pre-tax profit, up 19.2% over the same period. Also in 2023, the company's capitalization reached the milestone of 5 billion USD.

KIM THANH

Source: https://www.sggp.org.vn/fpt-duoc-vinh-danh-trong-top-10-doanh-nghiep-nhom-von-hoa-lon-co-quan-tri-cong-ty-tot-nhat-nam-2023-post718914.html