PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo – Stock code: DPM,)was honored in Top 5 Large-cap Listed companies at the 2019 Listed Companies Honoring Ceremony held on 27 November 2019. This is one of three important awards for listed companies in 2019 held by Ho Chi Minh City Stock Exchange, Hanoi Stock Exchange, Vietnam Investment Review and Award Council. In addition, DPM was also honored in Top 30 Large-cap Listed companies with best Annual Report.

In the category of Corporate governance, 60 enterprises with the highest scores were selected into the final round, classified based on types of capitalization, 20 enterprises for each type. In the final round, the Award Council had marked and selected 5 enterprises from each type of capitalization with the highest corporate governance score and 1 enterprise with outstanding progress to award. DPM has successfully passed the evaluation and voting rounds of the Award Committee to win the category of Listed company with the highest governance score.

The Award Committee stated that the content to evaluate corporate governance was not only based on the companies’ annual reports, but also evaluated other official sources of information disclosure. This year, the set of criteria to evaluate corporate governance continued to be built on the corporate governance principle of the Organization for Economic Co-operation and Development (OECD), with adjusted questions in accordance with current regulations on corporate governance and actual situation of Vietnamese enterprises. To rank in Top 5 Listed companies with Best corporate governance, it is necessary to fully converge the following elements of the set of grading criteria: An enterprise with great efforts in improving the quality of information disclosure, including information posted on its website, full and detailed periodic/extraordinary information disclosure; improving reports; improving the organization of General Meeting of Shareholders through providing complete and full information to shareholders, especially the implementation of roles and responsibilities of the BOD in corporate governance. Leading enterprises in corporate governance with a BOD made up of independent members of one third of the members or more, equivalent to the satisfaction rate of 64%, while this rate in the whole market is 10%. BODs of the leading enterprises has also clearly shown their roles in examining strategic goals of their companies, thereby reviewing and evaluating strategic contents, the adaptation, adjustments and execution of the Executive Board’s strategy against market changes.

For the award category of Annual Report, all annual reports concerning the financial year 2018 eligible to enter the voting rounds must go through 2 rounds of grading points, in which the first round was directly graded and selected by Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange. After the grading and selection rounds of the two Stock Exchanges, before entering the final round, the annual reports of enterprises would be examined by 4 leading auditing companies (Big 4) which are Deloitte, Ernst & Young, KPMG and PwC in order to ensure the accuracy, objectivity and depth of the selection. In the final round, based on the results of the first round and the examination of Big 4 and through discussion and evaluation, the Award Voting Council had selected the annual reports with the highest score from each type of capitalization to award.

Photos: Mr. Le Cu Tan – President & CEO of DPM received the award