Listed firms starve shareholders of transparency: Vietstock

The transparency level of listed companies on the nation's stock exchanges remains weak, as most do not release company information to their shareholders.
The transparency level of listed companies on the nation's stockexchanges remains weak, as most do not release company information totheir shareholders.

According to statistics releasedby Vietstock, only 29 out of the 694 listed companies on both nationalstock exchanges took the initiative to distribute compulsory informationto investors, as required by Circular 52/2012/TT-BTC of the StateSecurities Commision about information publication on stock exchanges.

Those releasing information were mainly Ho Chi MinhCity-listed companies, as opposed to only four listed on the HanoiExchange.

Real estate companies topped the list,with four companies releasing information, including Binh ChanhConstruction Investment (BCI), Ba Ria-Vung Tau Housing Development(HDC), Technical Infrastructure Development (IJC) and real estate giantVingroup (VIC).

The list of companies complying withregulations on publishing information also included three banks,including Vietinbank (CTG), Eximbank (EIB) and Military Bank (MBB), aswell as three retail companies, Ben Thanh Trade and Services (BTT), CuChi Trade and Industry Development Investment (CCI) and Sai Gon GeneralServices Corporation (SVC).

The remaining 95 percentof listed companies were found to have not released information.Experts noted that the numbers indicated that many listed companies arenot properly serving their investors, which might cause their stocks tobe undervalued.

Experts urged listed companies topay attention to investor relations (IR), which would help ensuretransparency and the rights of shareholders, while enhancing companies'images in investors' eyes.-VNA

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