27-08-2019, 04:17 PM
(27-08-2019, 03:00 PM)weijian Wrote: [ -> ](26-08-2019, 10:28 PM)dreamybear Wrote: [ -> ]In our time-starved lifestyle, I wonder why CFA or some finance society/body do not mandate companies to state at least the following information(my humble suggestions below) in ARs :
10 years' worth of data(or whenever since Co is listed if listed < 10 yrs) of :
1. Revenue (Total, and broken down by divisions / geog areas)
2. Gross Profit, Net Profit
3. GPM, NPM
4. Operating Cash Flow, Cash Flow Financing, Cash Flow Investing
5. Cash or Cash Eq, Net Cash or Cash Eq(after debts)
6. Short Term Debt, Long Term Debt
7. Gross Dividends Paid / Dividend Pay Out Ratio
8. EPS, DPS
9. NAV, NTA
10. No. of outstanding shares / No. of treasury shares
11. Significant Co. Action(e.g. rights issue, bonus shares)
12. Share Price High / Low
13. Significant Assets like FH properties, land
14. Board of Directors / Top Mgmt
15. Auditors Rpt Highlights
16. Top 20 Shareholders
I think it is currently super unproductive for investors to search through the various years of AR.
Imagine the man-hours saved for the whole world. I don't think it is that much effort for companies to compile this type of info into their AR. Granted that maybe not everyone is interested in so much info, but for people who are interested, at least mandate that Co has to provide such data to potential investors upon request. It pays to be prudent with our own hard-earned money.
I think some companies do "go the extra mile" by providing the X years of financial performance (maybe don't include everything you have mentioned) inside their AR.
It seems like the content of ARs is governed by SGX's listing rules: http://rulebook.sgx.com/en/display/displ...80&print=1
In this case, it is probably something that SGX can do. The rules require details that happen in the current financial year, not the priors.
Actually if I were an investor, I will be happy that SGX does not mandate what you are proposing. If everyone can get the same metrics easily (click of a button), then there is little incentive for the value investor to work harder. In fact, all of us have to work even harder now to earn the same keep. As Warren Buffet once mentioned "It doesn't help if all of us tip toe in order to get a better view at the concert - eventually our toes will hurt like crazy and we still can't get a better view. The key is to tiptoe and no one notices".