The Securities Investors Association Singapore (Sias), in withdrawing the Most Transparent Company award from Midas, said that the award was given to Midas from 2012 to 2016 based on information and reports available at those points in time (Sias withdraws Most Transparent Company award from Midas; May 31).
By withdrawing this award now, is Sias implying that it made a mistake in giving the award to Midas from 2012 to 2016?
As this is not a lifelong award and it has already been given, the record should show that Midas won this Most Transparent Company award from 2012 to 2016, and it should thus not be withdrawn.
Should Sias, an association that looks after investors' interests, even be in the position of giving out awards to listed companies?
Shouldn't awarding companies, whether for being the most transparent or for best corporate governance practices, be left to professional bodies such as the Singapore Institute of Directors or other similar bodies?
Sias should stick to its mission of protecting the interest of investors instead of promoting any listed company.
It behoves investors to do their own due diligence when investing, rather than to rely on awards or recommendations by analysts.