Vingroup and Vietjet Air are among seven Vietnamese companies named in Forbes Asia’s “Best Over A Billion” list.
Five other Vietnamese firms in Forbes Asia’s latest listing of 200 top-performing Asia-Pacific listed companies with revenues of above $1 billion include food giant Masan Group; electronics retail giant Mobile World; Vietnam’s biggest brewer Sabeco; the country’s biggest dairy company Vinamilk, and Techcombank, one of the nation’s biggest private banks by assets.
The country’s biggest private conglomerate Vingroup topped the list of Vietnamese names in terms of market cap, at $17 billion. It was followed by Vinamilk and Sabeco, with $9.07 billion and $7.73 billion respectively, Forbes Asia said.
Vingroup ranked first in the Vietnamese list in terms of revenue, at $5.3 billion, followed by Mobile World at $3.76 billion, and Vietjet Air at $2.33 billion. Vietjet Air has surpassed flag carrier Vietnam Airlines to become the country’s biggest airline with 46 percent share of the country’s rapidly expanding air travel market, Forbes Asia said.
Top in 2018 net profits were Vinamilk, Techcombank, and Vietjet, with $444 million, $368 million, and $232 million respectively.
The seven companies emerged from a candidate pool of 3,200 listed companies in the Asia-Pacific region with $1 billion or more in revenue in their latest financial year.
Other global names featured in the list included China’s multinational e-commerce conglomerate Alibaba, South Korean multinational conglomerate SK Group, and Chinese multinational investment corporation Tencent, each being included in the list’s top 3 in terms of market value, revenue or profit.
The Best Over A Billion list is based on metrics such as profitability, revenue, debt to equity ratios, projected growth in the next one or two years, connections to Forbes Asia’s rich individuals lists, and some other five-year business performance metrics, Forbes Asia said.