DOCSLIB.ORG

Báo Cáo Thường Niên Năm 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Báo Cáo Thường Niên Năm 2017 l 2017 Annual Report Báo cáo thường niên 2017 C ontents N éi dung 3 CORPORATE INFORMATION - PUBLIC BANK VIETNAM 4 THÔNG TIN DOANH NGHIỆP - PUBLIC BANK VIETNAM 7 BOARD OF MEMBERS - PUBLIC BANK VIETNAM 8 HỘI ĐỒNG THÀNH VIÊN - PUBLIC BANK VIETNAM 9 BOARD OF MEMBERS PROFILES 10 HỒ SƠ HỘI ĐỒNG THÀNH VIÊN 17 CHAIRMAN’S MESSAGE 18 THÔNG ĐIỆP CỦA CHỦ TỊCH 19 ECONOMIC PERFORMANCE OF VIETNAM IN 2017 20 TĂNG TRƯỞNG KINH TẾ VIỆT NAM NĂM 2017 VÀ AND OUTLOOK FOR 2018 TRIỂN VỌNG NĂM 2018 23 BRANCH NETWORK - PUBLIC BANK VIETNAM 24 MẠNG LƯỚI CHI NHÁNH - PUBLIC BANK VIETNAM 27 SUMMARY OF FINANCIAL PERFORMANCE IN 2017 28 TÓM TẮT TÌNH HÌNH TÀI CHÍNH NĂM 2017 29 SIMPLIFIED BALANCE SHEET 30 TÓM TẮT CHỈ TIÊU BẢNG CÂN ĐỐI 31 FINANCIAL HIGHLIGHTS 32 CÁC CHỈ SỐ TÀI CHÍNH NỔI BẬT 33 CALENDAR OF SIGNIFICANT EVENTS 2017 34 CÁC SỰ KIỆN QUAN TRỌNG TRONG NĂM 2017 43 INDEPENDENT AUDITORS’ REPORT 44 BÁO CÁO KIỂM TOÁN ĐỘC LẬP 47 STATEMENT OF THE BOARD OF MEMBERS 48 BÁO CÁO CỦA HỘI ĐỒNG THÀNH VIÊN 49 BALANCE SHEET 50 BẢNG CÂN ĐỐI KẾ TOÁN 55 INCOME STATEMENT 56 BÁO CÁO KẾT QUẢ KINH DOANH 57 CASHFLOW STATEMENT 58 BÁO CÁO LƯU CHUYỂN TIỀN TỆ 61 NOTES TO THE FINANCIAL STATEMENTS 62 THUYẾT MINH BÁO CÁO TÀI CHÍNH 1 2 l 2017 Annual Report Báo cáo thường niên 2017 Corporate hông tin nformation Doanh nghiệp Full name in English Tên đầy đủ bằng tiếng Anh Public Bank Vietnam Limited Public Bank Vietnam Limited Trading Name Tên Giao dịch Public Bank Vietnam Public Bank Vietnam Charter Capital Vốn điều lệ VND 3 Trillion 3.000 tỷ đồng Banking License under Public Bank Giấy phép hoạt động dưới tên Public Bank Vietnam (100% Foreign-owned Bank) Vietnam (Ngân hàng 100% vốn nước ngoài) 38/GP-NHNN dated 24 March 2016 38/GP-NHNN ngày 24/03/2016 The banking license was issued and valid for 99 years Giấy phép hoạt động được ban hành và có hiệu lực trong from 01 April 2016 (transformed from VID Public Bank with vòng 99 năm kể từ ngày 01/04/2016 (chuyển đổi từ VID effect from 01 April 2016) Public Bank có hiệu lực từ ngày 01/04/2016) Banking License under VID Public Bank Giấy phép hoạt động dưới tên VID Public (Joint Venture Bank) Bank (Ngân hàng Liên doanh) 01/NH-GP dated 25 March 1992 01/NH-GP ngày 25/03/1992 The banking license was issued and valid for 20 years Giấy phép hoạt động được ban hành và có hiệu lực trong vòng 20 năm kể từ ngày cấp phép. from the date of the license. Giấy phép hoạt động được gia hạn đến ngày 31/03/2016 theo The banking license was extended until 31 March 2016 Quyết định số 2650/QĐ-NHNN ngày 30/12/2015 bởi Ngân under Decision No. 2650/QD-NHNN dated 30 December hàng Nhà nước Việt Nam 2015 by the State Bank of Vietnam. 3 4 l 2017 Annual Report Báo cáo thường niên 2017 CORPORATE INFORMATION - PUBLIC BANK VIETNAM THÔNG TIN DOANH NGHIỆP - PUBLIC BANK VIETNAM Board of Members Hội đồng Thành viên Tan Sri Dato’ Sri Dr. Teh Hong Piow Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow Chủ tịch Dato’ Chang Kat Kiam Member of the Board Dato’ Chang Kat Kiam Thành viên Hội đồng Quah Poh Keat Member of the Board Quah Poh Keat Thành viên Hội đồng Datuk Phan Ying Tong Member of the Board Datuk Phan Ying Tong Thành viên Hội đồng Chee Keng Eng Member of the Board Chee Keng Eng Thành viên Hội đồng Management Ban Quản trị Chee Keng Eng General Director Chee Keng Eng Tổng Giám đốc Nguyen Quang Tuan Deputy General Director Nguyễn Quang Tuấn Phó Tổng Giám đốc Dao Thanh Tung Deputy General Director Đào Thanh Tùng Phó Tổng Giám đốc Raymond Wong Chen Onn Director Raymond Wong Chen Onn Giám đốc Registered Office 1st , 10 th and 11 th Floor, Hanoi TungShing Square Trụ sở đăng ký Tầng 1, tầng 10 và tầng 11, Tòa nhà Hanoi Tungshing No.2 Ngo Quyen Street, Ly Thai To Ward Square, Số 2 Ngô Quyền, Phường Lý Thái Tổ, Hoan Kiem District Quận Hoàn Kiếm, Hà Nội, Việt Nam Hanoi, Vietnam ĐT: 84-24-39438999 Tel: 84-24-39438999 Fax: 84-24-39439005 Fax: 84-24-39439005 Công ty Kiểm toán Công ty TNHH Ernst & Young Việt Nam Auditors Ernst & Young Vietnam Ltd Tầng 8, Tòa nhà CornerStone 8th Floor, CornerStone Building Số 16 Phan Chu Trinh 16 Phan Chu Trinh Street Quận Hoàn Kiếm, Hà Nội, Việt Nam Hoan Kiem District, Hanoi, Vietnam ĐT : 84-24-38315100 Tel : 84-24-38315100 Fax: 84-24-38315090 Fax: 84-24-38315090 Hội sở chính Tầng 1, tầng 10 và tầng 11, Tòa nhà Hanoi Tungshing Head Office 1st , 10 th and 11 th Floor, Hanoi TungShing Square Square, Số 2 Ngô Quyền, Phường Lý Thái Tổ, No.2 Ngo Quyen Street, Ly Thai To Ward Quận Hoàn Kiếm, Hà Nội, Việt Nam Hoan Kiem District ĐT: 84-24-39438999 Hanoi, Vietnam Fax: 84-24-39439005 Tel: 84-24-39438999 Swift: VIDPVNV5 Fax: 84-24-39439005 Hòm thư điện tử: [email protected] Swift: VIDPVNV5 Email: [email protected] Trang Web www.publicbank.com.vn Website www.publicbank.com.vn 5 6 l 2017 Annual Report Báo cáo thường niên 2017 oad of Members ội đồng Thành viên Tan Sri Dato’ Sri Dr. Teh Hong Piow Tan Sri Dato’ Sri Dr. Teh Hong Piow Chairman Chủ tịch Dato’ Chang Kat Kiam Quah Poh Keat Dato’ Chang Kat Kiam Quah Poh Keat Member Member Thành viên Thành viên Datuk Phan Ying Tong Chee Keng Eng Datuk Phan Ying Tong Chee Keng Eng Member Member cum General Director of Public Bank Vietnam Thành viên Thành viên kiêm Tổng Giám đốc Public Bank Việt Nam 7 8 l 2017 Annual Report Báo cáo thường niên 2017 Boad of Members rofiles ồ sơ Hội đồng TAN SRI DATO’ SRI DR. TEH HONG PIOW Thành viên Chairman TAN SRI DATO’ SRI DR. TEH HONG PIOW Chủ tịch Tan Sri Dato’ Sri Dr. Teh Hong Piow, aged 88, male, Tan Sri Teh had won both domestic and international Tan Sri Dato' Sri Dr. Teh Hong Piow, 88 tuổi, nam, bắt đầu Tan Sri Teh được trao tặng nhiều giải thưởng trong và began his banking career in 1950 and has 68 years’ acclaim for his outstanding achievements as a banker sự nghiệp ngân hàng của mình vào năm 1950 và có 68 ngoài nước nhờ những thành tựu nổi bật của ông với tư experience in the banking and finance industry. He and the Chief Executive Officer of a leading financial năm kinh nghiệm trong lĩnh vực tài chính ngân hàng. Ông cách là một Giám đốc ngân hàng và Giám đốc Điều hành founded Public Bank in 1965 at the age of 35. He was services group. Awards and accolades that he had thành lập Public Bank vào năm 1965 ở tuổi 35. Ông được của một tập đoàn dịch vụ tài chính hàng đầu. Các giải appointed as a Director of Public Bank on 30 December received include: bổ nhiệm làm Giám đốc Public Bank vào ngày 30 tháng thưởng bao gồm: 1965 and had been the Chief Executive Officer of 12 năm 1965 và từng là Giám đốc Điều hành Public Bank • Nhà lãnh đạo Ngân hàng Thương mại khu vực Châu • Asia’s Commercial Banker of the Year 1991 Public Bank since its commencement of business kể từ khi Ngân hàng bắt đầu hoạt động vào tháng 8 năm Á năm 1991 • The ASEAN Businessman of the Year 1994 operations in August 1966. He was re-designated as 1966. Ông được bổ nhiệm lại là Chủ tịch Public Bank và • Doanh nhân ASEAN năm 1994 • Malaysia’s Business Achiever of the Year 1997 Chairman of Public Bank and Chairman of Public Bank Chủ tịch Tập đoàn Public Bank kể từ ngày 1 tháng 7 năm • Doanh nhân thành đạt Malaysia năm 1997 • Malaysia’s CEO of the Year 1998 Group with effect from 1 July 2002. He serves as 2002. Ông là Chủ tịch Hội đồng Quản trị và Ủy ban Nhân • Giám đốc Điều hành Malaysia năm 1998 • Best CEO in Malaysia 2004 sự của Tập đoàn. Chairman of the Board Executive Committee and the • Giám đốc Điều hành xuất sắc nhất Malaysia năm 2004 • The Most PR Savvy CEO 2004 Group Human Resource Committee. • Giám đốc Điều hành được biết đến rộng rãi nhất năm 2004 9 l 2017 Annual Report Báo cáo thường niên 2017 • The Asian Banker Leadership Achievement Award • Asian Corporate Director Recognition Award 2017 • Giải thưởng Lãnh đạo Ngân hàng Châu Á năm 2005 Á năm 2015 cho Malaysia 2005 for Malaysia for Malaysia cho Malaysia • Giám đốc Điều hành xuất sắc nhất Châu Á (Quan hệ • Award for Outstanding Contribution to the Tan Sri Teh was awarded the Medal “For the Course of • Giải thưởng Công hiến vượt bậc cho sự phát triển của Nhà đầu tư) năm 2016 cho Malaysia Development of Financial Services in Asia 2006 Vietnamese Banking” by the State Bank of Vietnam in dịch vụ Tài chính Châu Á năm 2006 • Giải thưởng Công nhận Giám đốc Doanh nghiệp Châu • Lifetime Achievement Award 2006 2002 for his contributions to the Vietnamese banking • Giải thưởng Thành tựu trọn đời năm 2006 Á năm 2016 cho Malaysia • Award for Lifetime Achievement in Corporate industry over the past years.
Load more

Recommended publications
  • Offering Circular
    IMPORTANT NOTICE NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES IMPORTANT: You must read the following disclaimer before continuing. The following disclaimer applies to the attached Offering Circular. You are advised to read this disclaimer carefully before accessing, reading or making any other use of the attached Offering Circular. In accessing the attached Offering Circular, you agree to be bound by the following terms and conditions, including any modifications to them from time to time, each time you receive any information from us as a result of such access. Confirmation of Your Representation: You have accessed the attached document on the basis that you have confirmed your representation to the Issuer and to the Arrangers and Dealers (as such terms are defined in the attached Offering Circular) that: (1) you are outside the United States, the electronic mail address that you gave us and to which this electronic mail has been delivered, is not located in the United States and, to the extent you purchase the securities described in the attached Offering Circular, you will be doing so pursuant to Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”); and (2) that you consent to delivery of the attached Offering Circular and any amendments or supplements thereto by electronic transmission. The attached document has been made available to you in electronic form. You are reminded that documents transmitted via this medium may be altered or changed during the process of transmission and consequently neither the Issuer, the Arrangers and Dealers, any future Dealer, the Trustee and any Agent (each as defined in the Offering Circular) nor any of their respective employees, representatives or affiliates accepts any liability or responsibility whatsoever in respect of any discrepancies between the document distributed to you in electronic format and the hard copy version available on request.
    [Show full text]
  • Vietnam Guide.Pdf
    Contents 1. Overview of Vietnam P. 3 – 10 2. Legal Environment and Competition Law P. 11 – 21 3. Taxation, Transfer Pricing, Banking and Currency Control P. 22 – 33 4. Labour, Compensation Rule and Labour Supply Situation P. 34 – 47 5. Research and Development Environment P. 48 – 58 6. Supply Chain Environment P. 59 – 66 7. Infrastructure P. 67– 75 8. Types of Industries Encouraged by the Local Government P. 76 – 80 9. Key Government Incentives P. 81 – 87 10. Environmental Requirements P. 88 - 111 Disclaimer This material is prepared and intended for general information and reference purposes only. It does not cover exhaustively the subject it treats, but is intended to answer some of the important broad questions that may arise. When specific issues arise in practice, it will often be necessary to consider the relevant laws and regulations, and to obtain appropriate professional advice. The information contained here is current at the date of publishing and may change over time, and no representation, expressed or implied, is made as to its accuracy, completeness or correctness. Hong Kong Productivity Council (“HKPC”), the Government of the Hong Kong Special Administrative Region, the publishers and authors are not responsible for the result of any actions which are undertaken based on information contained within this material, nor for any errors in, or omissions from, this material. In no event shall HKPC, or its council members, directors, employees or agents, be liable to you or anyone else for any decision made or action taken in reliance on this material for any business losses, including without limitation loss of or damage to profits, income, revenues, use, production, anticipated savings, businesses, contracts, commercial opportunities or goodwill as well as any consequential, special or similar damages sustained.
    [Show full text]
  • Vietnamese Cuisine Provides an Interesting Experience for Most Tourists and Foodies Because of Its Subtle Flavours and Outstanding Diversity
    Publisher Dr KKJohan Editor in Chief Chew Bee Peng Editorial Team Francis Leong Ian Gregory Edward Masselamani Nur’Ain MC Nurilya Anis Rahim Gerald Chuah Creative Manager Ibtisam Basri Assistant Creative Manager Mohd Shahril Hassan Senior Creative Designer Mohd Zaidi Yusof Multimedia Designer Zulhelmi Yarabi Project Manager Lau Swee Ching Secretariat Kalwant Kaur accept nothing less The BrandLaureate Special Edition World Awards 2017 1st Edition : March 2018 it’s the brandlaureate awards Published by: TBL Brand Awards Sdn Bhd 39A, SS21/60, Damansara Utama, 47400 Petaling Jaya, Selangor Tel: 603-77100348 Fax: 603-77100350 Email: [email protected] or nothing Printed by: Percetakan Skyline Sdn Bhd 35 & 37, Jalan 12/32B, TSI Business Industrial Park, - DR. KKJOHAN Batu 6 1/2, Off Jalan Kepong, 52000 Kuala Lumpur Tel: 03-6257 4824 / 1217 Fax: 03-6257 7525 / 1216 Email: [email protected] 3 THE ASIA PACIFIC BRANDS FOUNDATION Founded in 2005, the Asia Pacific Brands Foundation (APBF) is a non-profit organization dedicated to developing brands in a myriad of business backdrops. Led by its Patron, H.E. Tun Dr. Mahathir Mohamad, Malaysia’s fourth Prime Minister, together with a Board of Governors who are experienced captains of industries and established brand icons. The power of branding is a visual, auditory and sensory experience which is undoubtedly vital to the success of brands. Brands are catalysts that transcend achieving objectives, making profits or establishing one’s status so that it appeals to consumers. In reality, consumers’ buying preferences are determined by the way brands attract and engage them. It is crucial that organizations realize the significance of brands and branding.
    [Show full text]
  • The Way Forward
    THE WAY FORWARD 2018 ANNUAL REPORT LED BY GREAT AND PURPOSEFUL LEADERSHIP, WE CONTINUE TO REMAIN SUCCESSFUL BY MEETING DEMANDS AND EXPECTATIONS OF STAKEHOLDERS AND CUSTOMERS. OUR EFFECTIVE STRATEGIES AND PRUDENT MANAGEMENT HAS HELPED US DECISIVELY MOVE FORWARD AND RESPOND TO CHANGES IN THE BANKING INDUSTRY. THE WAY FORWARD 2018 ANNUAL REPORT WE WILL CONTINUE TO MOVE FORWARD IN LINE WITH TECHNOLOGICAL ADVANCEMENT. FOR THE CONVENIENCE OF OUR CUSTOMERS, WE WILL ENSURE EASY AND SIMPLIFIED ACCESS TO ONLINE BANKING, ENABLING THEM TO BANK ANYWHERE AND AT ANY TIME. THE WAY FORWARD 2018 ANNUAL REPORT OUR SUPERIOR PERFORMANCE IN CUSTOMER SERVICE HAS ALWAYS BEEN AN INDUSTRY BENCHMARK. AS A CUSTOMER-CENTRIC BANK, WE SUPPORT THE NEEDS OF OUR CUSTOMERS AND ASSIST THEM TO ACHIEVE THEIR FINANCIAL GOALS IN ANY WAY POSSIBLE. THE WAY FORWARD 2018 ANNUAL REPORT OUR DEDICATED AND COMMITTED EMPLOYEES FORM THE BACKBONE OF OUR ORGANISATION. WE WILL INSTIL IN THEM THE NECESSARY SKILLS AND KNOWLEDGE TO FACE CHALLENGES AHEAD. IT IS OUR AIM TO CREATE A DIGITALLY ENABLED WORKFORCE AND EMBED INNOVATION INTO OUR WORKPLACE CULTURE AS WE MOVE FORWARD. THE WAY FORWARD 2018 ANNUAL REPORT ABOUT THIS REPORT WHAT’S INSIDE 1 HIGHLIGHTS 2 Corporate Philosophy 3 Corporate Mission 4 Notice of Annual General Meeting 7 Financial Calendar 8 Financial Highlights 9 Simplified Group Balance Sheet 10 Corporate Information RATIONALE 12 Group Corporate Structure 14 Corporate Profile Public Bank stood tall for the past 52 years, drawing our strength from stability in leadership, financial management, business acumen, professionalism and service excellence. We remain committed towards sustaining our footprints on corporate excellence as we embark on a digital journey to meet the future needs and expectations of our stakeholders, focusing on taking the Bank’s performance to the next level.
    [Show full text]
  • Finance & Business News 24 July 2017
    finance & business news 24 July 2017 FINANCE . .1 Four Vietnamese giants join hands to compete with foreign Reference exchange rate goes down 3 VND at week's beginning 1 businesses 33 Various interest rates drop sharply 2 Local firms not well prepared for Fourth Industrial Revolution 34 Credit growth reported at 9.06pct in six months 2 Da Nang determined to build startup city 35 Vietnam's foreign reserves at over $42b 2 Angel investor network incubates startups in central region 36 SBV prepares bad debt settlement plan 3 HCM City wastewater treatment sector expected to draw Guiding hand 4 investors 36 Will Korean investors launch massive penetration into Ben Tre Province to develop seven wind power projects 37 Vietnam's banking and finance market? 6 PM okays Van Don EZ development 38 First wholly Singapore-owned bank to operate in Vietnam 8 Tra Vinh invites investment for Dinh An economic zone 38 SBV official clarifies MA concerns in banking sector 8 VN among top ten US home buyers 39 Citi launches new Debit Mastercard in Vietnam 9 BIZ NEWS . 39 Multinationals view Asean with renewed optimism 10 Business Briefs July 24, 2017 39 Nearly half trilliondollars needed foressential infrastructure 11 Market turnover plummets 40 FDI attraction in first half records new peak 11 Shares slump on fears of steeper correction 41 Australia partially ends probe against Vietnam's zinc coated steel 11 The newest, richest millionaires in the stock market 41 DOC stops anti-dumping investigation against VN polyester fibre 12 Binh Duong Water Environment JSC
    [Show full text]
  • Essays on Banks in the Emerging and Transition Economy of Vietnam Giang Phung
    Essays on banks in the emerging and transition economy of Vietnam Giang Phung To cite this version: Giang Phung. Essays on banks in the emerging and transition economy of Vietnam. Business ad- ministration. Université Panthéon-Sorbonne - Paris I, 2019. English. NNT : 2019PA01E030. tel- 02511968 HAL Id: tel-02511968 https://tel.archives-ouvertes.fr/tel-02511968 Submitted on 19 Mar 2020 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. ECOLE DOCTORALE DE MANAGEMENT PANTHÉON-SORBONNE ESCP Europe Ecole Doctorale de Management Panthéon-Sorbonne ED 559 ESSAYS ON BANKS IN THE EMERGING AND TRANSITION ECONOMY OF VIETNAM THESE En vue de l’obtention du DOCTORAT ÈS SCIENCES DE GESTION Par Giang PHUNG Soutenance publique le 11 juillet 2019 JURY Directeur de Recherche : M. Michael TROEGE Professeur de Finance, ESCP Europe Rapporteurs : M. Frédéric LOBEZ Professeur à la Faculté de Finance Banque Comptabilité, Université de Lille M. Jörg LAITENBERGER Professeur, Université Martin-Luther de Halle-Wittenberg Suffragants : Mme. Alberta DI GIULI Professeure de Finance, ESCP Europe M. Chan NGUYEN VAN Professeur, Directeur académique et directeur du programme MBA, CFVG M. Joël METAIS Professeur retraité, Université Paris Dauphine ECOLE DOCTORALE DE MANAGEMENT PANTHÉON-SORBONNE L’Université n’entend donner aucune approbation ou improbation aux opinions émises dans les thèses.
    [Show full text]
  • KPMG Vietnam Transparency Report 2016
    Transparency Report December 2016 kpmg.com.vn TRANSPARENCY REPORT 2016 1 Contents Who we are 4 Our structure and governance 4 System of quality control 6 Financial Information 20 Partner remuneration 21 Network arrangements 22 Statement by the Board of Management of 24 KPMG Limited on the effectiveness of quality controls and independence Appendices 25 TRANSPARENCY REPORT 2016 2 Foreword We are pleased to present the 2016 KPMG Limited Transparency Report, covering our financial year to 30 September 2016. In the report, we take the opportunity to provide stakeholders with a description of KPMG’s audit quality initiatives and how we are: – building public trust and inspiring confidence in capital markets, by bringing to life our commitment to quality, ethics and integrity through our culture and values – ensuring that our people are extraordinary, by nurturing talent, creating high- performing teams and deploying talented staff globally to help deliver insights and innovative ideas – driving a relentless focus on quality and excellence in our engagements and providing valued insights, so that clients see a difference in us – driving continuous improvement and getting to the root cause of quality issues. Audit quality, supported by our methodologies and processes, is at the heart of our culture of integrity and our drive for continuous improvement. We trust that you find this report useful in understanding how we manage our firm to ensure that we deliver quality services and in particular quality audits. We fully expect that this report will also provide the opportunity for feedback from our stakeholders and we would welcome your views on how we can improve the quality of the information presented herein in future years.
    [Show full text]
  • January 2018 This Report Contains 34 Pages
    Transparency Report 2017 January 2018 This report contains 34 pages KPMG VIETNAM kpmg.com/vn Contents 1 Foreword 6 2 Who we are 7 2.1 Our business 7 2.2 Our strategy 7 3 Our structure and governance 8 3.1 Legal structure 8 3.2 Name, ownership and legal relationships 8 3.3 Responsibilities and obligations of member firms 8 3.4 Governance structure 8 4 System of quality control 10 4.1 Tone at the top 11 4.1.1 Leadership responsibilities for quality and risk management 12 4.2 Association with the right clients 12 4.2.1 Acceptance and continuance of clients and engagements 12 4.2.2 Client and engagement acceptance process 13 4.2.3 Continuance process 13 4.2.4 Withdrawal 13 4.2.5 Client portfolio management 13 4.3 Clear standards and robust audit tools 13 4.3.1 Audit methodology and tools 13 4.3.2 Independence, integrity, ethics and objectivity 14 4.4 Recruitment, development and assignment of appropriately qualified people 16 4.4.1 Recruitment 16 4.4.2 Personal development 17 4.4.3 Inclusion and Diversity programs 17 4.4.4 Performance & Reward 17 4.4.5 Assignment of professionals 17 4.4.6 Insights from our people – Global People Survey (GPS) 18 4.5 Commitment to technical excellence and quality service delivery 18 4.5.1 Lifetime learning strategy 18 4.5.2 Licensing and mandatory requirements for IFRS and U.S. GAAP engagements 19 4.5.3 Access to specialist networks 19 4.5.4 Consultation 19 4.5.5 Developing business understanding and industry knowledge 19 4.6 Performance of effective and efficient audits 19 4.6.1 KPMG Audit Process 19 4.6.2
    [Show full text]
  • Volume 10, Issue 1
    Impact Factor 4.428 Case Studies Journal ISSN (2305-509X) – Volume 10, Issue 1 – Jan- 2021 Impact of Firm’s Investment on Cash Flow Relation in the Context of Banking System Reform in Vietnam Author’s Details: (1) Ngoc Anh Nguyen (2) Thi Dung Nguyen (3) Thi Van Anh Vu (1) (2) (3) University of Economics - Technology for Industries, Vietnam Correspondence: Ngoc Anh Nguyen, 456 Minh Khai, Hai Ba Trung, Ha Noi Abstract: The study examines the effect of banking system reform, which is defined by the presence of foreign banks, on investment-cash flow relation in a context of a small transition economy. I find evidence that the presence of foreign banks in Vietnam results in decreasing in firm’s dependence on local banks and has changed their financial constraint. Company investments are less reliant on internal cash flow in the post reform period. Although overinvestment of state controlled firms cannot be reduced but underinvestment problem of non- state -controlled listed firms is mitigated due to better accessibility to bank loans. The investigated relation between investment and leverage is robust for this conclusion Keywords: financial constraints, investment – cash flow relations, state ownership, banking system reform, small transition economy 1. Introduction In Vietnam, due to the underdevelopment of financial market, beside internal cash flows, bank loans have been main financing sources of funds for firm’s investments. However, credit market is not a fair play ground for private companies due to some historical reasons1 although Vietnam has done several efforts to improve the situation. Nhung and Okuda (2015) show that Vietnamese SOEs have an advantage over privately owned firms in accessing bank loans as well as making a profit, even after economic booms.
    [Show full text]
  • Finance & Business News
    finance & business news 10 April 2017 FINANCE . 1 City rental market continues slump 37 Reference exchange rate up 5 VND 1 C&W: HCM City to have more office-for-rent space in 2017 38 What's happening in the retail banking market? 2 BIZ NEWS . 39 Vietnam banks' assets, registered capital 2 Business Briefs April 10, 2017 39 Banks target to earn trillion dong profits 5 Vietnamese stock market attracts foreign investors 40 Banks plan to raise charter capital in large number 6 Foreign investors rush to buy stake in Vietnamese businesses 41 Q1 credit grows sharply 7 VSD issues trading codes to 228 foreign investors 42 Novaland backs out of Sacombank restructuring project 7 Stocks set to rise on first quarter hopes 42 Investor group to strengthen Sacombank 8 Oil price increases help pull VN Index up 43 The highly speculated return of Sacombank's 'father' 9 HSX up while HNX down 43 Eximbank plans to sell entire stake in Sacombank 10 Shares remain negative after holiday 44 Q2 GDP growth forecast: 5.6pct 10 HSC seeks to scrap cap on foreign ownership 44 HCM City: Private sector to contribute 65pct to GRDP 11 Vietnam's PV Gas bags $65 million in Q1 net profit on Vietnam should not aim to become industrial power: rising revenue 45 economist 12 TPG Asia sets to become the majority shareholder of VAS 46 FDI inflows not improving quality of VN's growth 13 VN products look to Argentinean market 47 When more is less: VN growth deficient in quality 13 PM okays $2.4b for major highway 47 Vietnam to halve corporate coverage of unemployment VET holds Industry
    [Show full text]
  • Dissertation-Banking in Emerging Markets-Giangphung
    ECOLE DOCTORALE DE MANAGEMENT PANTHÉON-SORBONNE ESCP Europe Ecole Doctorale de Management Panthéon-Sorbonne ED 559 ESSAYS ON BANKS IN THE EMERGING AND TRANSITION ECONOMY OF VIETNAM THESE En vue de l’obtention du DOCTORAT ÈS SCIENCES DE GESTION Par Giang PHUNG Soutenance publique le 11 juillet 2019 JURY Directeur de Recherche : M. Michael TROEGE Professeur de Finance, ESCP Europe Rapporteurs : M. Frédéric LOBEZ Professeur à la Faculté de Finance Banque Comptabilité, Université de Lille M. Jörg LAITENBERGER Professeur, Université Martin-Luther de Halle-Wittenberg Suffragants : Mme. Alberta DI GIULI Professeure de Finance, ESCP Europe M. Chan NGUYEN VAN Professeur, Directeur académique et directeur du programme MBA, CFVG M. Joël METAIS Professeur retraité, Université Paris Dauphine ECOLE DOCTORALE DE MANAGEMENT PANTHÉON-SORBONNE L’Université n’entend donner aucune approbation ou improbation aux opinions émises dans les thèses. Ces opinions doivent être considérées comme propres à leurs auteurs. Dành tặng gia đình thân yêu của tôi A ma très chère famille To my dear family ECOLE DOCTORALE DE MANAGEMENT PANTHÉON-SORBONNE Remerciements Les années passées au sein de l’école doctorale de l’ESCP-Europe ont vraiment marqué ma vie. Je tiens à remercier toutes les personnes qui m’ont soutenu et encouragé à aller jusqu’au bout de cette aventure à la fois stimulante et intense. Mes premiers remerciements et mes premières pensées vont à mon Directeur de thèse, le professeur Michael Troege, pour son suivi, sa passion pour la finance, son esprit critique et son aide. Je me souviendrai de ses conseils avisés qui m’ont permis d’achever cette thèse.
    [Show full text]
  • Vietnam Soon Implementing Mobile Money
    \ Highlight Vietnam soon implementing VIETNAM mobile money BUSINESS REVIEW th What’s in it today? Vol 15, Apr 15 2020 FINANCE INVESTMENT FWD Group completes acquisition of Vietcombank-Cardif South Korea, Vietnam eye closer co-operation in supply Life Insurance chain Two foreign-invested banks have licenses withdrawn Investment in Ho Chi Minh City’s export processing, industrial zones up 86% E-COMMERCE LOGISTICS Vietnam soon implementing mobile money Ministry of Industry and Trade requests Hai Phong to create favorable conditions to transport goods Will Jetstar Pacific Be Wound Down As Qantas Seeks To Offload Shares? START-UP RETAIL Vietnam’s Homebase raises pre-seed round Well-stocked retailers comfort concerned consumers VIETNAM BUSINESS REVIEW | FINANCE 1 FINANCE FWD Group completes acquisition of Vietcombank-Cardif Life Insurance FWD Group, the insurance arm of Hong Kong billionaire Richard Li’s investment group Pacific Century, announced that it has secured regulatory approval to proceed with the acquisition of Vietcombank- Cardif Life Insurance (VCLI), a 45:55 life insurance joint venture between Vietcombank and BNP Paribas Cardif, according to a statement. We had earlier reported that FWD Group was about to close a $400- million acquisition of VCLI. The addition of VCLI further strengthens FWD’s presence and market share in the Vietnamese insurance market and underlines the company’s continued confidence in the long-term growth potential of Vietnam, the company said. “Vietnam is one of the fastest-growing insurance markets in Asia and we are excited to expand our presence through this significant acquisition. FWD has established itself as a fresh and dynamic insurance challenger brand in a few short years since entering Vietnam and this deal is a firm testament to our confidence in the long-term growth and potential of the Vietnam market,” said Huynh Thanh Phong, FWD Group Chief Executive Officer.
    [Show full text]