What this year’s people’s choice award means for IR in Asia
As IR Magazine’s latest IR Objectives & Challenges research report shows, Asian IROs prioritize the engagement of their existing shareholders over the global trend of fresh client targeting techniques.
Only 58 percent of Asian IR professionals say they place targeting in their top three goals for 2018, compared with the 76 percent in North America and 80 percent in Europe who name this their top priority. The report surveys 600 IR professionals and senior management members in total.
Exemplifying the Asian trend of focusing on existing shareholders is China Aviation Oil (Singapore), whose multi-pronged approach won it the people’s choice award for investor relations at the IR Magazine Global Forum & Awards in Amsterdam on October 9.
Kok Hoong Khong, China Aviation’s deputy general manager, accepted the award and spoke to IR Magazine about what it represents for the firm and from a regional perspective. He noted general criticism of Chinese firms for what is deemed a lack of transparency toward their investors.
China Aviation Oil (Singapore) is the largest jet fuel trader in the Asia-Pacific region and the key supplier of imported jet fuel to China’s civil aviation industry. Its parent company, China National Aviation Fuel Group, is a large Chinese state-owned enterprise, which holds around 51 percent of the total issued shares in China Aviation Oil (Singapore). BP Investments Asia, a subsidiary of major oil firm BP, holds 20 percent of the total.