Nafoods Group achieved Top 5 Best Corporate Governance Enterprises and Top 20 Best Annual Reports

Nafoods Group Joint Stock Company (HOSE: NAF) was honored to receive the double award of Top 5 best corporate governance enterprises - small-cap group and Top 20 best annual reports - non-financial group within the framework of the 2024 Listed Enterprise Voting.

Nafoods Group achieved Top 5 Best Corporate Governance Enterprises and Top 20 Best Annual Reports

Nafoods Group Joint Stock Company (HOSE: NAF) was honored to receive the double award of Top 5 best corporate governance enterprises - small-cap group and Top 20 best annual reports - non-financial group within the framework of the 2024 Listed Enterprise Voting.

This achievement is a testament to Nafoods' efforts in improving corporate governance quality according to best practices, enhancing transparency in governance, protecting shareholders' interests and affirming its commitment to sustainable development.

The Vietnam Listed Company Award 2024 (VLCA 2024) is an annual event jointly organized by the Ho Chi Minh Stock Exchange (HOSE), the Hanoi Stock Exchange (HNX), the Investment Newspaper and Dragon Capital Vietnam Fund Management JSC, to evaluate and honor enterprises that have made outstanding efforts in reporting and disclosing information, implementing regulations and good practices on governance as well as good ESG practices at enterprises.

Mr. Nguyen Phi Bang - Chief Financial Officer of Nafoods Group received the certificate of Top 5 best corporate governance enterprises 2024

For the Annual Report category, the scoring of the Annual Report in the preliminary round is conducted by an independent third party, the Vietnam Institute of Directors (VIOD), based on both content (80%) and form (20%). The preliminary results are then reviewed by the Big 4 auditing firms, Deloitte, Ernst & Young, KPMG and PwC, to ensure accuracy, objectivity and depth in the selection process. The two Stock Exchanges review the results one last time before announcing them.

As a result, this year, 96 listed companies with the best Annual Reports made it to the final round. Of these, 25 companies were in the financial sector and 71 were in the non-financial sector. In the final round, the Judging Council, consisting of leading, independent, and experienced experts from prestigious organizations in the market, based on the preliminary results, discussed and evaluated to select 10 winning annual reports in the financial sector and 20 winning annual reports in the non-financial sector.

This is the 7th consecutive year that Nafoods has been a finalist in this award category, and the first year that Nafoods has been honored to be one of the 20 businesses named in the category of Best Annual Report in the non-financial group.

Nafoods Group is honored to be named in the Top 20 Best Financial Reports in the Non-Financial Industry

For the Corporate Governance category, this year's evaluation criteria are built from the Law on Enterprises, the Law on Securities, the principles stipulated in the Vietnam Corporate Governance Code, the ASEAN Corporate Governance Assessment Criteria, and the G20/OECD Corporate Governance Principles.

One of the main objectives this year is to improve the quality of listed corporate governance above the average level in Southeast Asia; apply good practices on environmental, social and corporate governance standards (ESG standards) in listed companies, aiming for sustainable development according to international practices. This year, in order to encourage businesses to move towards international practices, the Organizing Committee also changed the practice-related questions and increased the proportion of practice points to 40%, instead of 30% compared to last year and reduced the compliance score from 70% last year to 60% this year.

The evaluation of this content in the preliminary round continues to be undertaken by a group of independent experts from VIOD. The enterprises participating in the vote are those in the VNX Allshare index. The evaluation is based on reliable information that the company publicly discloses to the market on the company's website, information channels of the Stock Exchange, and the State Securities Commission. The preliminary evaluation results are then reviewed by Big 4 before being selected for the final evaluation round.

This year, 107 companies with the best corporate governance were selected for the final round, divided by capitalization group. Of these, 37 were in the large-cap group, 34 were in the mid-cap group, and 36 were in the small-cap group. In the final round, the Selection Council selected 25 companies with the best corporate governance, including the Top 10 large-cap groups, the Top 10 mid-cap groups, and the Top 5 small-cap groups.

2024 is the 5th year Nafoods has been a finalist in this category, and the 3rd time Nafoods has been honored in the Top 5 best corporate governance enterprises in the small-cap group.

As a business operating in the agricultural and food industry, Nafoods understands the importance of information transparency, ensuring the roles, benefits and rights of all stakeholders, including partners, customers, suppliers, local communities, employees and shareholders.

Winning this double award is not only a great achievement for the efforts of shareholder relations activities, but also a clear demonstration of Nafoods' commitment to sustainable development. This title further strengthens the company's position, helping Nafoods continue to receive the trust of investors, shareholders and partners.

Source: https://baodautu.vn/nafoods-group-dat-top-5-doanh-nghiep-quan-tri-cong-ty-tot-nhat-va-top-20-bao-cao-thuong-nien-xuat-sac-nhat-d230359.html