Vinamilk, the country’s largest dairy producer, has announced that it is now officially the first Vietnamese business to join the Asian Corporate Governance Association (ACGA).
ACGA was founded in Hong Kong (China) in October 1999 as an independent, non-profit organization. ACGA's members comprise of more than 100 global and regional pension and investment funds, financial institutions, listed and unlisted companies, law and accounting firms, and educational institutions operating across Asia-Pacific, Europe and North America.
The organization members can engage in a constructive dialogue with governments, financial regulators and stock exchanges on practical issues affecting the implementation of better corporate governance practices in Asia.
Vinamilk’s participation in ACGA will help raise the company’s level in international corporate governance and promote its growth and development in the region and around the world.
Vinamilk is the only Vietnamese business out of the 12 companies recognized from five regional nations which has the “tools to appear in the Fab 50 in the near future”, said Forbes in its newly-released list of the 50 best publicly traded companies in Asia-Pacific for this year.
As of September 9, Vinamilk’s market cap fetched around US$2.8 billion, and its revenues till July stood at VND15.65 trillion, or $750 million, a 28 percent year-on-year increase.
In 2010, Vinamilk received the Forbes Asia 2010 Best Enterprise Award among the Top 200 best enterprises in Asia, while it’s CEO and chairwoman, Mai Kieu Lien, was included among the 50 noteworthy path-breakers in the list of Asia's 50 Power Businesswomen, released by Forbes last March. She appeared in the list of the best CEO’s in Asia as compiled by the Hong Kong-based Corporate Governance Asia Journal in May.