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Top 50 public companies of 2023 sees major changes

The Top 50 prestigious and effective public companies of 2023 (VIX50), recently announced by the Vietnam Report JSC, has witnessed a significant change compared to 2022 with cautious forecasts.
Top 50 public companies of 2023 sees major changes ảnh 1

Fertiliser products of Petro Vietnam Ca Mau Fertilizer JSC (DCM). (Photo: DPM)

Hanoi (VNS/VNA) - The Top 50 prestigious and effectivepublic companies of 2023 (VIX50), recently announced by the Vietnam Report JSC,has witnessed a significant change compared to 2022 with cautious forecasts.

This list in 2023 has seen an amazing change with the spectacular performanceof the banking industry. The Vinhomes Joint Stock Company, topping the list in2022, has been plunged to the bottom of the ranking to make room for the JointStock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).

A series of popular enterprises such as Hoa Phat, Masan, The Gioi Di Dong hadto leave the Top 10 list to make room for PetroVietnam Fertiliser and ChemicalsCorporation (DPM); FPT Joint Stock Company and a series of banks such asVietnam Technological and Commercial Joint Stock Bank (Techcombank); MilitaryCommercial Joint Stock Bank (Military Bank); Vietnam International CommercialJoint Stock Bank (VIB); Ho Chi Minh City Development Commercial Joint StockBank (HDBank); and Asia Commercial Joint Stock Bank (ACB). Most of these banksstill performed well and were honoured through the tumultuous years because ofthe COVID-19 pandemic.

This is a remarkable effort in the context that in 2022, Vietnam’s stock marketwas going through strong volatile due to geopolitic crisis, unstablemacro-economics, tight monetary policies of many central banks, high interestrates, exchange rate pressure, along with a decrease in investor confidenceafter a series of cases of economic corruption and stock market manipulation.

The VN-Index plunged from an all-time high of over 1,500 points set on January6, 2022 to a bottom of 874 points in mid-November 2022. Total capitalmobilisation on the stock market in 2022 reached VNĐ351.8 trillion, down 22%compared to the previous year.

Amid the constant fluctuations of the economy and the stock market, especiallywhen market confidence is at a low level after recent violations, reputationand efficiency play a key role in the success of listed companies because itimproves access to capital, boosts market valuations, and provides competitiveadvantages.

According to a survey by Vietnam Report, corporate liquidity and valuation areamong the top seven factors that most affect the reputation and efficiency ofpublic enterprises this year. Notably, dividend policy has risen from the 8thposition last year to the 6th most influential factor in 2023. This is a factorassociated with corporate governance. Consistency in dividend payouts anddividend growth rates can help investors assess the financial performance andstability of a business over time.

Factors related to communication are also recognised to have a strong impact onthe prestige and effectiveness of the business.

Vietnam Report's research still shows the top six potential industries with thebest growth stocks including: Banking, Food Production, Power Production andDistribution, Oil and Gas Production, Tourism and Recreation, Pharmaceuticals,Construction and Materials./.
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