By Yang Huiwen
THE investing public can look forward to a new dedicated financial Internet site featuring a wide range of free content to help them make informed decisions.
The content will be provided jointly by media group Singapore Press Holdings (SPH) and local bourse operator Singapore Exchange (SGX).
The two companies yesterday signed an agreement to develop the portal, which they expect to launch in the second half of next year.
The portal will be launched in two languages, first in English, followed by a Chinese version.
It will offer investors SPH's breaking news on companies and stock markets as well as company announcements, regulatory news, research reports and live market prices from SGX. The new site will complement the existing SGX website.
Users will also have access to an investor relations section, to be maintained by SPH-owned ShareInvestor.com. This will provide users corporate information on more than 200 companies listed on the SGX, the two companies said in a joint statement.
In September last year, SPH bought financial portal ShareInvestor.com for up to $18 million as part of a drive to broaden its Internet-based financial services.
ShareInvestor.com will continue as a separate website while maintaining the investor relations section of the new portal.
'SGX's website is very much the de facto website for the investing public to access stock market information,' said SPH chief executive Alan Chan.
'We believe this collaboration will provide an even more useful portal to the investing public by adding SPH news and ShareInvestor's investor relations information to the SGX website content.'
SGX chief executive Hsieh Fu Hua said he expects the portal to be the 'choice site for investors in our market'.
'SGX is pleased to partner SPH to offer a portal for investors to access key market information from the combined databases of our two organisations,' he said.
SPH will facilitate online advertisements on the portal, which will allow advertisers to reach a large audience of the investing public.
It will handle the marketing and news aspects of the portal, which will be marketed as part of SPH's AsiaOne Network.
SGX will handle the technical and data aspects. Both sides will bear their own costs, said an SPH spokesman.
'We expect revenue in due course, but the more important task at hand is to work together to enhance the site and make it even more useful for users,' the spokesman said. 'The users will then spend more time on the website, making it attractive to advertisers.'
Mr David Gerald, president and chief executive of the Securities Investors Association of Singapore, said: 'Any initiative to provide financial information to the investing community will be useful.
'The more information investors have access to, the better. Very often, they don't get comprehensive information that is useful.'
This is the second time SGX and SPH have worked together in a big way.
In January last year, the pair, together with Britain's FTSE Group, launched a revamped benchmark Straits Times Index and other indexes under the FTSE ST index umbrella.
This article was first published in The Straits Times.