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Industry group sees 'ample room for improvement' in investor relations websites
INVESTOR relations (IR) websites of Singapore Exchange (SGX)-listed companies have "room for improvement", with a total average score of 42 points out of a possible 100, says a recent survey conducted by the Investor Relations Professionals Association (Singapore) (IRPAS) and IR digital solutions company EQS Group.
The highest score achieved was 70 points, while the lowest was 13 points.
When categorised according to the size of the company, large-cap companies (above S$1 billion in market capitalisation) had a total average score of 49 points, while mid-cap companies (S$300 million to S$1 billion) and small-cap companies (below S$300 million) had total average score of 47 points and 38 points respectively.
The survey included the content in an IR website's landing page, the provision of pertinent information related to the company, its share price, financial announcements and events.
Information relating to sustainability and corporate governance was also included.
The inaugural survey says 69 per cent of listed companies do not have any information on sustainability, while 9 per cent lack an IR website.
Harold Woo, president of IRPAS, said the results of the survey were a "cause of concern".
"The trend of engaging investors and getting investor buy-in for a listed entity is moving towards digital medium, with the IR website as the first point of contact," he said.
"Clearly, the results of this survey show that on average, the quality, depth and attributes of investor relations websites administered by public listed companies in Singapore are below par," he added.
Mervyn Kwan, regional director-Singapore of EQS Group, said many company websites contained outdated content, or lacked content altogether.
"It is also quite alarming that some companies were found without a website as having an online presence is essential for stakeholder engagement," he said.