QSE read­ies elec­tronic sys­tem to sup­port uni­fied dis­clo­sure

Gulf Times Business - - FRONT PAGE - By San­thosh V Peru­mal Busi­ness Re­porter

The Qatar Stock Ex­change (QSE) is in the process of in­tro­duc­ing a new elec­tronic sys­tem to as­sist listed com­pa­nies in pro­duc­ing uni­fied dis­clo­sure for­mat.

This was yes­ter­day an­nounced by QSE chief ex­ec­u­tive Rashid bin Ali al-Man­soori at the an­nual meet­ing on dis­clo­sure prac­tices where the listed com­pa­nies wit­nessed the pro­to­type of the sys­tem that will as­sist them in con­sol­i­dat­ing their dis­clo­sure through the QSE web­site.

The new elec­tronic sys­tem is ex­pected to be up and run­ning by 2019, it is un­der­stood.

He pointed out that the QSE con­sid­ers en­vi­ron­men­tal and so­cial sus­tain­abil­ity and cor­po­rate gov­er­nance (ESG) as one of the fun­da­men­tals that sup­port dis­clo­sure and trans­parency in the mar­ket.

Last year, the QSE had said the listed com­pa­nies could dig­i­tally re­port their sus­tain­abil­ity per­for­mance from De­cem­ber this year through its sus­tain­abil­ity and ESG dash­board.

The com­pa­nies listed on the QSE have made great strides in the im­ple­men­ta­tion of in­ter­na­tional stan­dards in terms of dis­clo­sure and trans­parency and the de­vel­op­ment of ded­i­cated in­vestor re­la­tions de­part­ments and web­sites, al-Man­soori said.

Such mea­sures have great im­pact on the com­pa­nies’ suc­cess in gain­ing in­vestors’ con­fi­dence and en­sur­ing healthy, trans­par­ent and fair trad­ing en­vi­ron­ment, he said.

“What mat­ters to in­vestors pri­mar­ily are trans­parency, ef­fi­cient dis­clo­sure process and ac­cess to in­for­ma­tion,” he said, adding that the con­sul­ta­tive meet­ings with lo­cal and in­ter­na­tional bro­kers, funds and in­vest­ment firms have as­sured the sig­nif­i­cance of ac­cess to ex­ec­u­tive man­age­ment and the avail­abil­ity of in­for­ma­tion on the com­pany’s plans, liq­uid­ity and div­i­dends, which are key fac­tors on which in- vest­ment de­ci­sions are based. The aim of the meet­ing was to pro­mote co-op­er­a­tion and co-or­di­na­tion among the com­mu­ni­ca­tion of­fi­cers of the listed com­pa­nies and the rep­re­sen­ta­tives of the Qatar Fi­nan­cial Mar­ket Au­thor­ity (QFMA), Qatar Cen­tral Se­cu­ri­ties De­posi­tary (QCSD) and the QSE, ac­cord­ing to Nasser al-Ab­dul­ghani, QSE’s op­er­a­tions direc­tor.

The best way to reach this ob­jec­tive is through ex­chang­ing views and lis­ten­ing to sug­ges­tions from the par­tic­i­pants in or­der to over­come the dif­fi­cul­ties en­coun­tered in the ap­pli­ca­tion of the best dis­clo­sure prac­tices in the mar­ket, he said.

The QFMA and QCSD rep­re­sen­ta­tives re­sponded to some queries from the com­mu­ni­ca­tion of­fi­cers rep­re­sent­ing the listed com­pa­nies and lis­tened to their rec­om­men­da­tions and sug­ges­tions to pro­mote the dis­clo­sure prac­tices and strengthen co-op­er­a­tion among the listed com­pa­nies, the QFMA, the QCSD, and the QSE in the best in­ter­est of in­vestors.

Al-Man­soori out­lin­ing the QSE’s new elec­tronic sys­tem to help listed firms pro­duce uni­fied dis­clo­sure for­mat.

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