FPT maintains its prestige among the Top 10 Large-Cap Enterprises with Best Corporate Governance

Recently, within the framework of the Conference and the Ceremony of the 2023 Vietnam Listed Companies Awards (VLCA) by the Ho Chi Minh City Stock Exchange (HoSE), FPT received recognition by securing a position in the Top 10 Large-Cap Enterprises with Best Corporate Governance. The Top 10 are distinguished by their exceptional corporate governance scores, surpassing the general average of others.

FPT's representative, Ms. Mai Thi Lan Anh, Deputy Director of Marketing and Communication, cum person in charge of information disclosure of FPT, received the award for Top 10 Large-Cap Enterprises with Best Corporate Governance.

Utilizing a comprehensive set of criteria that assess compliance with current legal regulations on corporate governance and the application of best practices, the Organizing Committee meticulously selected 104 enterprises deemed to be best-performing for the final round. The award nominations were categorized into three capitalization groups: 34 in the large-cap group, 34 in the medium-cap group, and 36 in the small-cap group. Subsequently, 25 enterprises across these groups, demonstrating exemplary corporate governance practices, were praised. This recognition underscored their commendable efforts in fostering effective governance.

Especially in 2023, the Corporate Governance category is undergoing significant changes in the evaluation criteria. Confronting the challenges posed by severe and intricate climate change, the Organization for Economic Cooperation and Development (OECD) has introduced new regulations in corporate governance, emphasizing the integration of ESG (environment, society, governance). Accordingly, the VLCA Organizing Committee has elevated the criteria for assessing corporate governance in 2023 to a more advanced level. This enhancement includes adding 18 questions, encompassing aspects such as organizing the general meeting of shareholders, nominating the Board members to enhance diversification, and 15 statements focusing on sustainable and resilient development.

Over the years, FPT has consistently adhered to all essential legal provisions about corporate governance, both in a general context and in adherence to regulations specific to listed companies. Concurrently, in an endeavor to elevate compliance with legal regulations on corporate governance, the Corporation has dedicated efforts to enhancing the quality of governance in line with international standards. This commitment is demonstrated through the application and increasingly stringent adherence to standards outlined in the OECD's International Governance Principles, the ASEAN Corporate Governance Scorecard, and the Vietnam Best Practice Corporate Governance Principles, the latter being published by the State Securities Commission in collaboration with the International Finance Corporation (IFC).

FPT stands as the sole technology stock featured in the list of 20 component stocks constituting the VNSI index (Sustainable Development Index), assessed by HoSE. The company secured a commendable total ESG score (Environment - Society - Governance) of 76%. Delving into specific categories, in the environmental score, FPT reached 65%, surpassing the VN100 group's average of 60%. In the social score category, FPT achieved an impressive 84%, outpacing the VN100 group's average of 67%. Furthermore, in the corporate governance score category, FPT attained a score of 70%, exceeding the VN100 group's average of 65%.

The Top 10 Large-Cap Enterprises Recognized for Best Corporate Governance in 2023 by the Organizing Committee

As per expert evaluations, enterprises with effective governance not only enjoy superior valuation, denoted by a heightened P/B ratio, but also attract the interest of investors, thereby amplifying opportunities to secure long-term capital from the market. Simultaneously, adept corporate governance establishes a comprehensive framework and mechanism, offering enhanced protection for the interests of both investors and stakeholders. This, in turn, contributes to ensuring sustainable development and bolstering the resilience of businesses.

As of the conclusion of the initial 11 months of 2023, FPT Corporation has successfully achieved 90.3% of its revenue target and 94.4% of the pre-tax profit projection for the entire year. It equates to 47,201 billion VND in revenue, reflecting a noteworthy 20.3% increase compared to the corresponding period and 8,545 billion VND in pre-tax profit, showcasing a substantial 19.2% growth over the same period last year. Additionally, FPT's capitalization value is anticipated to reach 5 billion USD in 2023.

The Corporation's relentless efforts have garnered recognition and high praise from the investor community, financial institutions, and esteemed organizations both domestically and internationally. This acclaim is evident through prestigious awards, including the Top 3 Vietnamese businesses with the best corporate governance score in the ASEAN region, the Top 15 Listed Enterprises with exemplary financial management capacity, the Top 3 Large-Cap Enterprises with Investor Relations (IR) activities most favored by investors and the Top 3 Large-Cap Enterprises with IR activities highly esteemed by financial institutions. It was also acknowledged among the Top 12 Board of Directors (BoD) commitment to good practices in corporate governance.

Indeed, these accolades serve as recognition for FPT's trailblazing efforts in adopting advanced standards of corporate governance and transparency in business operations, aligning with the best international practices within the Vietnamese landscape.

2023 marks the 16th iteration of the Listed Enterprise Voting, a steadfast companion to the Vietnamese stock market and the listed business community. The event has been instrumental in enhancing transparency in information disclosure and steering businesses towards the pinnacle of corporate governance practices, thereby elevating the overall quality of listed enterprises. This annual initiative is jointly organized by HoSE, Hanoi Stock Exchange (HNX), and the Investment Newspaper, sponsored each year by the sole sponsor, Dragon Capital VietFund Management.