SINGAPORE - A total of 9 per cent of the 711 public listed companies in Singapore do not even have an investor relations (IR) website.
That's according to a first-ever survey by the Investor Relations Professionals Association (Singapore), or IRPAS, which was aimed at determining the quality and efficacy of IR websites of listed companies here.
The survey in April was based on a 100-point system, out of which 50 points were allocated to assessing the content of an IR website. The remaining 50 points were allocated according to technology (20 points), usability (15 points), design (10 points) and up-to-date-content (5 points).
The average score for Singapore companies was only 42 points out of 100, versus a score of 53 for their German counterparts.
Mr Harold Woo, president of IRPAS, said: "Clearly, the quality, depth and attributes of investor relations websites administered by public listed companies in Singapore are below par."
The sub-par results are concerning, as a firm's IR website is the first point of contact for many investors.
Mr Woo added: "As an organisation that promotes best practices, professionalism and integrity in Singapore's IR community, IRPAS is advocating that public listed companies pay closer attention to and invest more in ensuring the company's IR website is able and capable to play a meaningful role in facilitating the company's IR objectives in this digital age."
Among the 711 company websites surveyed in April, 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. Mid-cap companies (S$300 million to S$1 billion) scored an average of 47. Small-cap companies (below S$300 million) scored an average of 38 points.
The survey also found that many company websites contained outdated content, or worse yet, lacked content altogether.
Mr Mervyn Kwan, regional director of EQS Group, which conducted the survey with the association, said the findings were alarming: "Adopting best practices is a must as we observe the global competition for capital."