Petrolimex/PLX named among top 50 listed firms in third year
On August 15, 2019, Forbes Vietnam honoured the Vietnam National Petroleum Group (Petrolimex/PLX) as Champion of Revenue among the “Top 50 listed companies 2019 in Vietnam” at the GEM Center, HCM City.
Head of Petrolimex Board of Management’s Risk Management Department Tran Tuan Linh attends the honouring ceremony and receives the award "Top 50 listed companies 2019 in Vietnam"
This is the third consecutive year that Petrolimex has been named among the Top 50 listed companies in Vietnam.
This year, Petrolimex continues maintaining its position as the highest revenue-generating firm on the Vietnam stock market with total revenue of 2018 reaching VND191,933 billion (US$8.27 billion), up 25 per cent compared to 2017, and consolidated profit of VND5,093 billion (nearly $220 million).
Officially listed on the stock market on April 21, 2017, Petrolimex has so far affirmed its position as a leading business of the economy, reaching and exceeding the annual business target and meeting the shareholders’ expectations.
So far this year, Petrolimex has successfully sold 32 million treasury shares of PLX and earned some VND2,000 billion. Currently, the Group has about 103 million treasury shares (equivalent to 8 per cent of charter capital).
In the last three years, the ratio of average annual profit/charter capital was 42 per cent; the average dividend payout rate for shareholders always stood around 30 per cent per year in cash. In addition, transparency in business, governance and information disclossure are also reasons why Petrolimex’s shares have been so appealing for investors, particularly foreign ones.
As the common stock market has shown signs of decline recently, Petrolimex’s PLX share has become a bright spot and always been among top of the market in terms of volume and value of net purchase from foreign investors. PLX has always received special attention from foreign investors and reported the highest level of net purchase in July with total value of VND1,266 billion.
According to Forbes Vietnam’s list of Top 50 brands in 2019, Petrolimex is among the top 20 with the brand valued at over $100 million.
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Assessment methods Forbes Vietnam applies company ranking methods from Forbes (an American business magazine), taking into consideration the characteristics of the listed businesses. The most valuable brands are the firms that recorded high revenue in the sectors that they are leading. After selecting a preliminary list of 100 companies with the highest brand recognition, product coverage and consumer awareness, Forbes Vietnam calculates earnings before taxes and interest, and then determines the contribution by the company’s intangible assets. The data used for the assessment are based on the companies’ audited financial statements. Some unlisted companies agree to disclose financial data, some companies are accredited by Forbes Vietnam through independent and reliable sources for the evaluation. The income earned by a business from its brand is determined from the value of the contribution of intangible assets after deducting corporate income tax and is distributed based on the brand’s contribution to particular industry. The brand value is calculated on the company’s share price-to-earnings (P/E) ratio versus the market’s average P/E ratio. |
