Bahrain’s Albaraka Banking Group (ABG) has won the title of the best Bahrain corporate website followed by Arab Banking Corporation (ABC) which climbed from fourth place in 2010, while bronze went to Gulf Finance House (GFH) which lost one place since last year. The 16 largest companies in Bahrain, measured by market capitalization, are included in the ranking.
Middle Eastern publicly listed companies are becoming increasingly aware of the importance of online transparency as part of their strategy to implement best practice investor relations. This is the key conclusion of the 2011 KWD Middle East Webranking survey that annually reviews corporate websites across the region based on the requirements of the investment community.
The survey shows that an increasing number of companies are turning to online channels to communicate with shareholders, disclosing more information on financials, corporate governance, CSR initiatives and company news on their websites.
“Corporate websites have become the first port of call for investors, analysts, journalists or anyone seeking information about a specific company,” Nicholas Lunt, Managing Director of M:Communications, said.
“Listed companies today are compelled to use online channels to tell their story and communicate their investment case – it is the fastest and most direct way of reaching their target audiences and subsequently of attracting investors.”
The Webranking survey, which has expanded this year to include 138 of the largest listed companies from eight countries across the MENA region, shows that a growing number of companies across the region are also making use of social media channels to get their messages out.
“The top ten best performing Middle Eastern companies this year are increasingly making use of more advanced methods to engage with key audiences,” according to Staffan Lindgren, Senior Partner of KWD International, M:Communications’ sister company and the world’s leading digital IR consultancy. “Many are now actively using social media outlets such as Twitter, Facebook and LinkedIn to talk about their latest financial report, CSR campaigns, corporate events and general news about the company.”
The winners of the KWD Webranking Survey were announced today during a seminar entitled “Success in Digital Investor Relations” which was held in the Armani Hotel Burj Khalifa in Dubai. The event, which is supported by the Middle East Investor Relations Society (MEIRS), saw representatives from the winning companies across the region attend and collect their awards.
Keynote speaker at this year’s event was EMEA CEO, Pascal Duval, Russell Investments, the leading global investment management company, who focused on ways in which GCC listed companies can enhance their equity story for international investors. His speech highlighted the importance of digital IR from the perspective of a fund manager and how this helps Russell Investments achieve its goals.
“We are seeing a real demand for greater transparency and increased regulation. This is obligating companies to adopt superior disclosure policies. Most notably in the wake of the financial crisis and Arab Spring, we are monitoring to what extent demand for greater disclosure and transparency from investors has grown and steps regional companies now must take to enhance their profile and standing,” said Pascal Duval.
Al Khalij Commercial Bank from Qatar emerged as overall winner in the Middle East, followed by Aamal Company, also from Qatar, in second place. UAE real estate group Emaar maintained its position as third best corporate website.
“The aim of the KWD Webranking is to encourage transparency and best practice online Investor Relations across the region,” Lunt said. “With global financial markets in turmoil investors are becoming increasingly careful before making any kind of investment, especially in this region. Any company that wants to compete on an equal footing for international investor attention needs to address good online communications.”
The third edition of the Middle East KWD Webranking has expanded this year, reviewing a total of 138 companies from Bahrain, Egypt, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia and the UAE. Top honours were awarded to Al Khalij Commercial Bank as the best website in the Middle East for digital investor relations and corporate online communications.
“Al Khalij Commercial Bank has always been ambitious when it comes to their corporate website. They have always been among the top ten best companies but have gone the extra mile this year demonstrating that they understand the importance of a strong online presence in engaging with the media, analysts and the wider investment community. Particularly the IR section is very well structured and contains the most important key information about the company,” says Staffan Lindgren, Managing Director, KWD International.
Aamal Company, who has been included in the Webranking for the first time this year, took silver, with Emaar winning bronze. For the first time, Sector Awards have been included this year to identify those listed companies that have created successful digital IR strategies in key sectors such as Oil and Gas, Financial Institution, Real Estate, Telecom and Industrial.