PVI in Forbes Vietnam’ 50 best Vietnamese listed companies
15:32, 2016/06/13
The PVI Holdings (PVI) has been honoured by the Vietnamese edition of Forbes Magazine as one of 50 best companies in Vietnamese stock market.
PVI is among five companies listed on the Hanoi Stock Exchange (HNX) earning a place in the Forbes’ list for its standout business efficiency and robust growth in the finance and insurance sector in 2016.
Last year, the company’s combined revenue stood at nearly 10 trillion VND (447.7 million USD) and before tax profit at 700 billion VND (31.3 million USD).
The A.M.Best Company, the world’s oldest insurance rating and information source, affirmed the financial strength rating for PVI’s two unit members with a B++ (Good) for PVI Insurance Corporation and B+ for PVI Reinsurance Joint Stock Corporation.
The company was also named as Vietnam’s most valuable brand by the Brand Finance-a London-based brand valuation and strategy.
Formerly known as PetroVietnam Insurance Company, PVI was founded in 1996 and was one of the first enterprises in Vietnam to implement equitisation to become PetroVietnam Insurance Joint Stock Corporation in 2006. It was listed on the stock market in 2007 with stock code PVI.
In August 2011, the company restructured successfully to operate on the parent company-subsidiary model. The parent PVI Holdings performs such main functions as capital management and investment, strategy management-planning, HR and brand and IT management.
Forbes Magazine selected 50 companies of all sizes with the best business performance in 13 sectors, including multidisciplinary. The companies' market capitalisation reached 829 trillion VND (37 billion USD), accounting for 62.14 percent of the total market on the two bourses as of May 16, 2016.
Their total revenue reached 475.5 trillion VND, or 37.77 percent of the total market revenue and their profit after tax reached 53.5 trillion VND, 53 percent of the total profits in the market.
Most of the companies in this list were traded on the southern bourse of HCM Stock Exchange (HoSE). Compared to last year, 2016's list has 10 new companies.
To formulate the list, Forbes Vietnam used its own method with the consideration of specific characters of local businesses under the basis of the audited financial statements in five years in a row and the fiscal year 2015 of all the companies.
PVI Holdings is one of the 50 best Vietnamese listed companies.
|
The A.M.Best Company, the world’s oldest insurance rating and information source, affirmed the financial strength rating for PVI’s two unit members with a B++ (Good) for PVI Insurance Corporation and B+ for PVI Reinsurance Joint Stock Corporation.
The company was also named as Vietnam’s most valuable brand by the Brand Finance-a London-based brand valuation and strategy.
Formerly known as PetroVietnam Insurance Company, PVI was founded in 1996 and was one of the first enterprises in Vietnam to implement equitisation to become PetroVietnam Insurance Joint Stock Corporation in 2006. It was listed on the stock market in 2007 with stock code PVI.
In August 2011, the company restructured successfully to operate on the parent company-subsidiary model. The parent PVI Holdings performs such main functions as capital management and investment, strategy management-planning, HR and brand and IT management.
Forbes Magazine selected 50 companies of all sizes with the best business performance in 13 sectors, including multidisciplinary. The companies' market capitalisation reached 829 trillion VND (37 billion USD), accounting for 62.14 percent of the total market on the two bourses as of May 16, 2016.
Their total revenue reached 475.5 trillion VND, or 37.77 percent of the total market revenue and their profit after tax reached 53.5 trillion VND, 53 percent of the total profits in the market.
Most of the companies in this list were traded on the southern bourse of HCM Stock Exchange (HoSE). Compared to last year, 2016's list has 10 new companies.
To formulate the list, Forbes Vietnam used its own method with the consideration of specific characters of local businesses under the basis of the audited financial statements in five years in a row and the fiscal year 2015 of all the companies.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.
14:13, 2024/09/23
Vietnamese leader urges Boeing to build production facility in Vietnam
Boeing is committed to continuing to support the development of Vietnam's aviation ecosystem, focusing on aviation infrastructure, human resources training, airport construction, and aircraft maintenance facilities.
14:38, 2024/09/17
Foreign capital pouring into Vietnam's real estate market
Experts are optimistic that the 2024 Land Law, once enacted, will help resolve legal bottlenecks and attract more FDI.
16:27, 2024/08/24
Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years