PetroVietnam Fertiliser and Chemicals Corporation. (Source: dpm.vn)

Hanoi (VNA) - PetroVietnam Fertiliser and Chemicals Corporation (PVFCCo) has received the ASEAN Corporate Governance Awards 2015 for its stellar corporate governance at a recent ceremony in Manila, the Philippines.

The company, together with other two listed enterprises - Vietnam Dairy Joint Stock Company and Ho Chi Minh City Securities Corporation, gained the highest assessment from the ASEAN Corporate Governance Scorecard (ACGS) project, carried out by the Asian Development Bank and the ASEAN Capital Markets Forum (ACMF) since 2012.

The ACGS is a series of assessments based on publicly available information and compared with international best practices that encourage listed companies to go beyond national legislative requirements.

The ACGS report can serve as a reference for capital market regulators and other shareholders who want to understand the current corporate governance standards across the region.

According to PVFCCo Chairman Le Cu Tan, the award has helped increase the enterprise’s image and prestige among shareholders, investors in particular and the ASEAN enterprise community in general.

PCFCCo is operating and managing Phu My fertiliser plant, which can produce 800,000 tonnes per year to meet 40 percent of the domestic nitrogenous fertiliser demand for agricultural production. The enterprise has also provided four top-quality sets of fertiliser products, comprising NPK Phu My, Kali Phu My, DAP Phu My and SA Phu My.

It is working to develop the chemical sector, striving to become a leading domestic fertiliser and chemical business.-VNA