Vietjet Air has been awarded the certificate of Best financial management and corporate governance company on the Vietnamese Stock Exchange in 2019 during the ceremony of the Business Performance Assessment Program (BCI) taking place in Hanoi on September 23, 2019. This is the second time Vietjet has been named for the achievements including the Best financial management company in the Transportation industry and the Top 10 Best Corporate Governance Companies on the Vietnamese stock exchanges.
The award was presented by Vietnam Chamber of Commerce and Industry (VCCI), Vietnam Business Forum newspaper in collaboration with the Institute for Business Studies and Development (INBUS) and Vietnam Association of Accountants and Auditors (VAA). Other Vietnam’s 10 Best Corporate Governance Companies on the stock exchanges are Vinamilk, Vingroup, Mobile World, PVGas, etc.
This year, all listed companies from 30 sectors are evaluated and ranked based on 21 indicators related to all aspects of business activities according to their financial statements with comprehensive evaluation methods, applying technologies, ensuring accurate and objective results.
Chairman of VCCI Vu Tien Loc said: “It’s reasonable to assess only listed companies in this index because they are the best companies in Vietnam market, which are also the most transparent companies. The effective and transparent companies were also ones that have the most capacity and performance. And the performance for listed enterprises on the stock exchanges are now the measurements of Vietnamese companies’ health in general.”
Since its listing on Ho Chi Minh City Stock Exchange (HOSE) on February, 2017, Vietjet’s stock (coded VJC) have quickly attracted domestic and foreign investors, become one of the best companies on HOSE and been selected on VN30 index.
Up to now, with more than USD3 billion in market capitalization, Vietjet has been listed as one of Forbes’ Asia Pacific Best over a billion in 2019. Air Finance Journal magazine also ranked Vietjet at the 22nd in the top 50 airlines with the world’s best operating and financial indicators. VJC stocks have just been listed in Vietnam Sustainability Index VNSI by HOSE for the period starting from August 5th, 2019 to July 31st, 2020; which includes top 20 stocks listed on HOSE with the best sustainable development scores. VJC stocks have just listed in the basket of FTSE and VNM ETF portfolios with the total values of 6 million shares, equivalent to VND 890 billion.
Vietjet’s abilities of financial management and corporate governance are proved by good business performances. In the first half of 2019, Vietjet operated 68,821 flights, equivalent to 45 per cent of total flights operated by domestic airlines, transported 13.5 million passengers in all network. Air transport revenue reached to VND20, 181 billion, an increase of 22 per cent and pre-tax profit was VND 1,553 billion, an increase of 15 per cent year on year. Available seat kilometers (ASK) maintained well, CASK was 3.88 cents, CASK ex-fuel was 2.27 cents, mainly from reducing fuel costs (decreased 4 per cent) and cost savings in management, operation (reduced by 2 per cent).
These results also affirm the capacity of the awarded companies, help partners, financial institutions, investors and shareholders evaluate and decide their investment reasonably and effectively etc.