The Taiwan Monthly
Global Connection
TWSE, Goldman Sachs, and QIC cohosted Investor Relations Forum 2018
On December 11, Taiwan Stock Exchange (TWSE) joined Goldman Sachs and Quantum International Corp (QIC) in cohosting the Investor Relations Forum 2018. Listed companies, professional investment institutions and financial consultants, plus media public relations experts were invited to share their investor relation experience. The audience included more than 100 chairmen, CEOs, and executive officers from listed companies in Taiwan, highlighting the importance of investor relations (IR).
IR is one of the elements of enterprise strategy management. Sound IR practices help companies realize reasonable stock prices and thereby increase shareholder value. Investor makeup in Taiwan's capital market has been changing since 2000. As much as 40% of trading between January and November this year was made by institutional investors, 26% of whom were foreign institutional investors, who held 40% of the market cap at the end of November. Listed companies increasingly recognize the value of maintaining a good relationship with institutional investors.
Given the important relationship between listed companies and investors, both domestic and foreign, the TWSE invited experts from around the world to share their insight into the importance of IR and practical experience of institutional investor engagement. The aim was to facilitate and improve communication between listed companies and the global investor community so that management teams can be more involved in institutional investor engagement. This includes taking further part in local and international events to attract investors and highlight the value of listed companies in Taiwan’s capital market to increase international exposure.
Speakers at the forum represented the best of their respective fields. The forum opened with TWSE President Lih Chung Chien's welcome speech, followed by TSMC Corporate Communications Division Senior Director Elizabeth Sun's keynote speech on Best IR practices and Advice by TSMC. The first panel, "How do you engage with Buy/Sell side to increase value of your company", was chaired by TWSE Senior Executive Vice President Rebecca Chen. The panel consisted of Goldman Sachs Co-Head of Asia Pacific Tech Analyst Wei Chen, QIC CEO Alex Lee, Goldman Sachs Equity Sales Frank Lee, and Nan Shan Insurance Head of Research Oliver Lee. The panelists discussed topics including how companies could market themselves globally and develop good interactive relationships and discourse with investors by making good use of market intermediaries and participant services. The second panel, "Communicating effectively with the media and key stakeholders", was chaired by Goldman Sachs Corporate Communications Connie Ling. The panel consisted of ISS Corporate Solutions Asia Pacific Senior Consultant Eddy Gan, Clavis Communications General Manager Zion Liang, and TNL Communications Group Chief-in-Editor Lea Yang. The panelists shared their views on media and stakeholder communication and information accuracy and validity. Feedback showed participants increased their knowledge during the forum and would have more confidence when engaging institutional investors in the future.
As a bridge between listed companies and investors, the TWSE has been playing an active role in facilitating interaction between investors and listed companies for some years. The TWSE has introduced a number of measures this year, such as mandatory investor conferences and information disclosure in English, to drive IR value and enhance transparency. The TWSE will continue to organize events to attract local and international investors and create communication channels between listed companies and investors to showcase the value of the Taiwan capital market.
For further inquires, please contact Ms. Chang at 1078@twse.com.tw.