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Banking & Finance

Novaland a winner at Vietnam Listed Company Awards 2019

Released at: 09:40, 28/11/2019

Novaland a winner at Vietnam Listed Company Awards 2019

Photo: Novaland

Local developer picks up two awards, one for the third consecutive year.

by Hung Cao

Vietnamese developer the Novaland Group was recognized in the Top 10 Annual Report Awards at the Vietnam Listed Company Awards 2019 for the third consecutive year, and was also recognized in the Top 5 Sustainability Report Awards for the first time.

The awards are co-organized annually by the Ho Chi Minh Stock Exchange (HSX) and the Hanoi Stock Exchange (HNX), and were held this year in Ho Chi Minh City on November 27.

The Annual Report Awards and Corporate Governance Awards 2019 have the mission of enhancing transparency, creativity, and professional standards at listed companies in Vietnam’s securities market.

The awards committee for the two awards included professionals from the State Securities Commission, HSX, HNX, Vietnam Securities Depository (VSD), and the International Finance Corporation (IFC), three independent experts, Dr. Tran Ngoc Tho, and Dr. Dang Van Thanh. For the Sustainability Report Awards, the awards committee included professionals from the Association of Chartered Certified Accountants (ACCA), with assistance from independent experts.

Meeting the strict evaluation criteria, Novaland’s reports for 2019 displayed a number of significant improvements, followed international standards, and were bi-lingual. As a listed company, Novaland always focuses on shareholder benefits by ensuring business operation are effective and sustainable, in line with best listed company practices.

Novaland is also one of the pioneering companies in implementing the latest corporate governance practices. It formed a number of committees: an Audit Committee, a Development Policy Committee, a Human Resources Committee, and a Remuneration Committee.

The Board of Directors also met supervisory standards, in which two out of five members are independent members. With a clear sustainable development strategy, Novaland has continually implemented international standards and practices and currently aims to achieve the United Nations’ 17 Sustainable Development Goals.

Novaland’s corporate governance, meanwhile, also applies international standards such as OECD Principles of Corporate Governance and the ASEAN Corporate Governance Scorecard. It has invested millions of dollars in operating Human Capital Management SAP - ERP systems to efficiently assist in operations management and ensure supervisory and information security standards, contributing to the establishment of a professional corporate governance system.

Novaland has always been able to incorporate sustainable development matters into its operations by consistently following established strategies and targets, ensuring harmony between development objectives and environmental benefits, and enhancing the Group’s corporate social responsibility.

Over its quarter of a century of establishment and development, Novaland has provided the Ho Chi Minh City market with more than 27,000 real estate products and continually worked towards its vision of becoming “A leading economic group in Real Estate - Finance - Tourism Destinations - Infrastructure Development”.

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