Firms slow to use social media to engage investors

DESPITE the regular use of social media to disseminate news and keep the public informed, only 4 per cent of 91 SGX-listed companies surveyed frequently tap social media as a means to engage investors, a survey by the Investor Relations Professionals Association Singapore (IRPAS) and Singapore Management University (SMU) shows.

In addition, 87 per cent of the respondents either rarely or never use social media to engage investors.

But investor relations (IR) is gaining importance in listed companies. A vast majority (94 per cent) of large and mid-cap companies have a dedicated investment relations (IR) office or officer responsible for the IR function.