Mr. Nguyen Thanh Long - General Director of HD Fund Management JSC (HDCapital) - Photo: VS
Insurance, banking and financial companies focus on information disclosure
Mr. Nguyen Thanh Long - General Director of HD Fund Management JSC (HDCapital) - said so when commenting on information disclosure activities of listed enterprises at the IR Awards 2024 ceremony co-organized by Vietstock, Vietnam Association of Financial Administrators (VAFE) and FiLi magazine.
Mr. Long said that in recent years, there has been an amazing transformation in investor relations (IR) activities. However, there is still a clear differentiation in the level of IR implementation between large and small enterprises. "It is the resources that have affected the way IR activities are implemented in Vietnamese enterprises."
"In small businesses, the IR department is often assigned to the accounting and finance department. They can work very hard, but cannot be as professional as a team that is well-trained in IR," Mr. Long shared.
According to him, different industries also have different levels of IR compliance. Companies in the finance, banking, and insurance sectors often have better IR practices than other sectors such as real estate or construction.
Looking ahead, Mr. Long believes that there are still many challenges and points out a notable weakness in current IR work: "Only 10% of listed companies provide bilingual reports. This is a major barrier in accessing international investors."
Transparency, accuracy, and fairness are the keys to building trust
For effective IR operations, Mr. Long emphasized the need for transparency and accuracy of information, fairness in treating shareholders and the ability to build long-term trust.
In addition, good implementation of IR activities will promote the upgrading of Vietnam's market and attract ESG investment trends. Vietnam has so far met 7/9 FTSE criteria and 10/18 MSCI criteria to be upgraded to emerging market status.
Vietnam has also made new steps to promote this process, such as the Ministry of Finance recently issued a new circular related to prefunding (pre-deposit) with foreign investors.
"IR activities are not only a bridge between businesses and investors, but also the key to optimizing shareholder value and promoting sustainable business development," he said.
The IR Awards 2024 Ceremony is held to announce the IR voting results and honor listed companies with the best IR activities.
The survey results of information disclosure activities of 708 listed enterprises on HOSE and HNX showed that 424 units met information disclosure standards, accounting for 60%.
This is also the year with the highest rate of listed enterprises meeting information disclosure standards during the program's 14-year survey.
The IR assessment category for financial institutions is implemented in the form of closed scoring. The assessment criteria include 7 pillars, on the quality of information disclosure, IR website, financial communication, corporate governance and IR strategy, IR events, IR work for financial institutions and equity issuance.
Source: https://tuoitre.vn/60-cong-bo-thong-tin-cua-doanh-nghiep-niem-yet-dat-chuan-20240925201206815.htm
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