Bamboo Capital wins kudos for transparent reports, good governance

Vietnamese private conglomerate Bamboo Capital Group has been honored as a Top 20 business with the Best Annual Report and the Best AGM Organization at the 2024 Vietnam Listed Company Awards (VLCA).

The group said that the awards, announced by the Ho Chi Minh Stock Exchange (HoSE) and the Hanoi Stock Exchange (HNX) on November 16, were an acknowledgment of the company’s efforts in improving information transparency and corporate governance.

Out of more than 500 listed companies across both bourses, Bamboo Capital was among the stand outs, earning a spot in the Top 20 Non-Financial Companies with the Best Annual Reports - a category that saw 96 companies meet qualification criteria.

The latest award vindicated the firm’s commitment to delivering transparent, detailed and well-structured information that provides shareholders and investors with a clear view of its financial health, operations, strategies, and long-term plans, the company said.

It also highlighted the company’s integration of environmental, social, and governance (ESG) practices, underscoring its dedication to sustainable development, it added.

The recognition also reflected Bamboo Capital’s strategy of balancing profitability with long-term sustainability, ensuring benefits not just for the company and its shareholders, but for the broader community as well, the group said.

It noted that Bamboo Capital was one of only two companies among over 500 honored in the Corporate Governance category with the Best AGM Organization award.

The group has consistently innovated its approach to shareholder meetings. For instance, it has introduced a hybrid online format, allowing shareholders from anywhere to participate without geographical constraints.

This model has ensured greater inclusivity, enabling all stakeholders to engage in key strategic decisions.

During the meetings, the board of directors dedicate substantial time to addressing shareholders' questions, fostering transparency and building trust.

This year, Bamboo Capital added a special touch to the meeting by giving away more than 500 prizes through an online lottery as a token of appreciation to shareholders.

Impressive business performance

Over 13 years since its formation, Bamboo Capital has grown into a leading conglomerate in the country.

In 2023, despite facing unprecedented challenges in the real estate and construction sectors, the group posted revenues of over VND4 trillion ($157.34 million), just 8% down year-on-year.

The group has attributed its resilience to diversified revenue streams, proving the effectiveness of its focused multi-industry strategy.

In the first nine months of 2024, Bamboo Capital reported VND3.24 trillion ($127.45 million) in consolidated revenues, up 14.3% from the same period last year. Its after-tax profit reached VND748 billion ($29.42 million), a four-fold increase year-on-year.

The group has achieved 54.7% and 78.6% of its revenue and profit targets for the year.

With favorable macroeconomic conditions and signs of recovery in key markets, Bamboo Capital is well-positioned to meet its 2024 goals and continue its sustainable growth trajectory, the group asserted.

The group's BCG ticker closed Thursday at VND6,270 ($0.25) per share.