Hanoi (VNS/VNA) - Property developer Vingroup has been honoured by Forbes magazine in its list of Asia’s top 50 enterprises (Asia’s Fab 50 2018) for its rapid growth, vision and high performance for many years.

The 50 Best Companies in Asia – ‘Fab 50’ – were selected from 1,744 regional companies including China, India, Japan, the Republic of Korea, Australia, Thailand and Vietnam. The companies must meet strict criteria such as: reaching the minimum market capitalisation of 2 billion USD on the stock market, not having more than 50 percent of shares owned by the State, a debt ratio not exceeding 50 percent and ensuring steady revenue growth over the last five years.

Forbes also examines the financial strength of companies through a variety of analytical and measurement methods in order to honour the best listed performing companies among firms in the region.

With a market capitalisation of 14.1 billion USD on the stock market and multidisciplinary operations in key areas such as real estate, tourism-entertainment, retail, agriculture, education, health and technology, Vingroup has overtaken nearly 1,700 other bright companies to appear in the ‘Fab 50’.

According to the consolidated financial statement for the second quarter of 2018, Vingroup had total consolidated revenue of 32.7 trillion VND (1.4 billion USD), marking an increase of 63.3 percent over the same period of 2017. Pre-tax profit in Q2 this year was 3.6 trillion VND, up 90.3 percent year-on-year.

By June 30, Vingroup had total assets worth 242.17 trillion VND and owner’s equity of 86.8 trillion VND, up 13.3 percent and 65.2 percent, respectively.

Earlier, Vingroup was recognised by the international community as in the top 40 most valuable brand names of Vietnam in 2018 (Forbes), the top 300 most dynamic businesses in Asia (Nikkei Asia ) and Top 50 Brands in Vietnam (Brand Finance).-VNS/VNA