Chinese New Year is finally here and tomorrow marks the start of a four-day holiday. But don't get too happy just yet. We are currently in the middle of earning season. Companies still have to meet their continuous disclosure obligations. And unfortunately some companies still think the best time to do this, especially if they have bad news to report, is the day before a long weekend. Most people tend to arrange a holiday or plan to catch up with friends. And afterwards, people tend to forget what happened before the weekend. Some companies take advantage of this time to release profit warnings, earnings reports that show poor results, and worse. I feel that companies who report on the last day before a holiday are not doing the right thing by investors.

Now, companies who do this will reason that they have met listing requirements. And they have. There is no way anyone can accuse them of breaking SGX rules, or the law.

But I feel it is still unethical. Investors buy into companies because they trust them. They do not have to, but they want to. The least a company can do in return is to stand up and face the music. Besides, it's all part and parcel of business. Sadly, companies still practise this.

As a word of precaution, at least briefly read through stock news before and after the holidays. First, there's no harm reading. Second, it could be your stock in distress.

We'll find out tonight which companies are on our 'bad' list.


Nurwidya Abdul