Investors find Singapore and Thailand corporates delivering excellence in investor relations programs with increased focus on ESG across Asia

6 Singapore and Thailand companies are honored in the ASEAN ranking this year

HONG KONG, July 28, 2020BOC Aviation, Bangkok Dusit Medical Services, Bank Mandiri, Central Pattana, NagaCorp, DBS Group Holdings, CP All, Bank Central Asia and CapitaLand, clinched the top 3 slots in any of the five categories of Best CEO, Best CFO, Best Investor Relations Professional, Best IR Company and Best ESG rankings in their respective sectors in the 2020 All-Asia Executive Team survey running in its 10th year, announced today by Institutional Investor Research.  

Singapore and Thailand companies have clinched the most top-3 positions in the minds of 2,532 global investors and analysts. Indonesian banks have flourished, with Bank Mandiri and Bank Central Asia being the two only banks breaking into the ASEAN leaders’ table.

Emerging trends identified:

  1. Investor Engagement is a team sport: The top 3 ASEAN companies have all done well across the board, earning at least four top-three spots in five categories of Best CEO, Best CFO, Best Investor Relations Professional, Best IR Company and Best ESG.
  2. ESG on the rise: ESG continues to be valued by investors as evidenced by the strong performance of companies that have ranked top in the ESG category.  The top 3 ASEAN companies are also the top ranked firms in the ESG attribute.

Cara Eio, Head of Asia Pacific, Institutional Investor Research, says “The number of Honored Companies increased significantly as a testament of the importance of investor engagement in very competitive capital markets. These listcos will be further tested this year as travels have been curtailed due to COVID-19, thus companies have to work harder and with greater innovation to stay relevant and at the forefront of investor's mindshare. The unstable geopolitical climate will continue to plague investors and listcos alike and we believe companies with better ESG scores may be better able to cope."

Harold Woo, President of Investor Relations Professionals Association (Singapore) (“IRPAS”) says, “IRPAS co-hosted the inaugural 2019 All-Asia Executive Team ASEAN Most Honored Companies Awards in Singapore, to honor the best in class in investor engagement by ASEAN listed companies. This year we are delighted that two of our member companies, DBS Bank and CapitaLand have joined the roll of honor.”

Every year, Institutional Investor Research asks buy-side analysts, money managers and sell-side researchers at securities firms and financial institutions that cover the region to identify up to four companies that excel in investor relations in five categories – Best CEO, Best CFO, Best IR Professional, Best IR Company and Best ESG. This year a total of 1,921 portfolio managers and buy-side analysts and 611 sell-side analysts participated in the 2020 All-Asia Executive Team Honored Companies survey. The title of “Honored Company” goes to businesses earning a top-three position in one of the five categories, while companies were distinguished as "Most Honored" for having the most cumulative success in the rankings.

The 1,472 companies nominated across 18 sectors this year were rated on nine core areas, including (1) Accessibility of Senior Executives (2) Execution of Strategy (3) IR Team is Well Informed and empowered (4) Productivity of NDR/Conferences/Calls (5) Responsiveness (6) Business & Market Knowledge (7) Consistency & Granularity, (8) ESG Information, and (9) Timeliness of Disclosure.

The top-ranked companies and executives in 2020 are:

Best IR Program:

Rank Company 
1 BOC Aviation
2 Bangkok Dusit Medical Services
3 Bank Mandiri

Best CEO:

Rank Name Company 
1 Robert Martin BOC Aviation
2 Narumol Noi-am Bangkok Dusit Medical Services
3 Lip Keong Chen NagaCorp

Best CFO:

Rank Name Company 
1 Phang Thim Fatt BOC Aviation
2 Sean Czoon Tan NagaCorp
3 Silvano Rumantir Bank Mandiri

Best IR Professional:

Rank Name Company 
1 Ajaya Intaraprasong Bangkok Dusit Medical Services
2 Timothy Ross BOC Aviation
3 Yohan Setio Bank Mandiri

Best ESG:

Rank Company 
1 Bangkok Dusit Medical Services
2 BOC Aviation
3 Bank Mandiri

For the full list of published winners, please visit

To share your winning position in the 2020 All-Asia Executive Team ranking in your website content, advertisements, communications, marketing collateral, and more, please contact Commercial Lead, Carvin Lee, at This email address is being protected from spambots. You need JavaScript enabled to view it..

About Institutional Investor

For 52 years Institutional Investor has consistently distinguished itself among the world’s foremost media companies with groundbreaking journalism and incisive writing that provides essential intelligence for a global audience. In addition, Institutional Investor offers highly-respected proprietary benchmark research and rankings; Institutional Investor Research provides independent sell-side and corporate performance research and rankings and aims to be the first-choice and independent validation source of qualitative market intelligence for all three sides of the investment community. Institutional Investor Research has a global presence, spanning Europe, All-Asia, the US and Latin America

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Run by IROs for IROs, IRPAS is a voluntary commitment by a team of IR veterans united by the same dedication to build a community for fellow IR practitioners. It aims to empower members through education, professional development and networking initiatives, and to promote the sharing of IR knowledge and practices through internal research and partnerships with leading institutions and IR societies around the world.

IRPAS was established in 2006 by leading IROs, supported by SGX, with the primary objectives of championing IR best practice, enhancing professional competencies and elevating the overall standard of the IR profession in Singapore. For more information visit

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