November 9, 2023
SINGAPORE – Two Straits Times journalists were recognised for their financial reporting at the Sias Investors’ Choice Awards 2023, held on Wednesday by the Securities Investors Association (Singapore).
Senior correspondent Chor Khieng Yuit bagged the Financial Journalist of the Year award for her variety of impactful stories, ranging from breaking financial news to explainers and features, on topics such as the Central Provident Fund, rising interest rates and family offices.
Her work tends to include a personal finance aspect that explains why the news matters to readers, especially retail investors.
Ms Chor, 46, thanked Sias for the award and said it encourages her to continue with her work.
She added that an aspect she wants to explore further is investor psychology.
“I feel that if investors are more aware of their emotions when they make investments, they will not make decisions based solely on emotions and ‘buy high, sell low’,” she said. “Similarly, the fear of missing out, or Fomo, is always playing out in the markets, (such as) the rush into technology stocks and into artificial intelligence plays. Fomo usually leads to poor investment decisions.”
She said it is interesting to see investor psychology playing out in the markets all the time in areas such as cryptocurrency or meme stocks.
Meanwhile, Ms Lee Su Shyan, 54, is one of two recipients of the Investor Education Journalist of the Year award for her fortnightly column, In the Money, which runs in the Sunday Invest section. The other winner was CNA presenter Andrea Heng.
Ms Lee’s column provides tips on a range of asset classes to help investors make informed choices and stay up to date on topical investment issues. Ms Lee, who is an associate editor and senior columnist at The Straits Times, said: “Being financially prepared for retirement is important because we are all going to live for longer.
“At the same time, investment returns are trending lower. It will be challenging times in an uncertain investing environment.”
The ST journalists were among 12 individuals and 46 corporates to win awards across seven categories.
Journalists from other publications under SPH Media Trust were also recognised for their work.
Lianhe Zaobao’s associate business editor Chew Boon Leong was a joint winner of the Financial Story of the Year award. The Chinese daily’s business journalist Wee Xiu Hooi also won the Most Promising Journalist of the Year award, along with The Business Times’ Yong Jun Yuan.
Sias chief executive David Gerald said finance journalists are important because they are on the ground and pick up stories quickly from different sources.
He noted that many people rely on newspapers for financial information, and journalists raise issues that are important to investors and weigh the pros and cons so that investors can make informed decisions.
Going forward, journalists can also focus on environmental, social and governance (ESG) aspects in their financial reporting, he added.
Sias also noted that Singapore investors are “increasingly focused on knowing the types of ESG risks companies are exposed to, their plans to manage those risks, and how they are meeting their sustainability targets”.
To this end, Sias has launched the Singapore Corporate Sustainability Award this year.
Mr Gerald said: “Incorporating robust sustainability frameworks into corporate business models has emerged as the hallmark of success. Addressing the biggest challenge of our era of climate change has propelled sustainability to the forefront, with investors increasingly prioritising sustainable practices throughout supply chains.”
Minister for Sustainability and the Environment Grace Fu said at the ceremony at Sands Expo & Convention Centre that consumers and shareholders are holding companies to a higher standard of corporate responsibility, while investors are more conscious about the climate risks of their portfolios.
“We expect the financial sector to internalise a broader ESG mission, a mission that will maximise long-term profits while ensuring resource resilience and community well-being. Investors and financiers can and must help us pivot by allocating capital towards sustainable and climate-resilient businesses,” she added.