Print is not dead, according to some of the Hong Kong's biggest firms. Several blue-chip companies will continue to use newspaper advertisements to communicate with investors despite the stock exchange no longer making it mandatory.
Hang Seng Bank will put a summary of its financial results in newspapers to maintain its investor relations efforts while Cosco Pacific plans a combination of electronic and newspaper advertisements.
From June 25, companies were no longer required to buy ad space in one Chinese- and one English-language newspaper to announce corporate news. They can now place the information on the exchange's or their own website.
Hang Seng Bank said the internet was the most efficient way to communicate with overseas investors but wished to use newspaper advertisement for add-on information.
'Summarised newspaper advertisements will allow us to use more flexible wordings and formats to communicate with shareholders,' a spokesperson said. 'This is better than the formal announcements of the past, whereby we had to use legal wordings.'
Kelvin Wong Tin-yau, executive director and deputy managing director of t Cosco Pacific, said combining electronic and newspaper advertisements was a good way to build good investor relations.