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Two Straits Times journalists win awards for finance reporting at Investors' Choice Awards

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Two senior business correspondents from The Straits Times have been singled out for praise at the Investors' Choice Awards presentation ceremony on Friday.

Ms Joyce Lim won the Special Award for Story of the Year for her coverage on AXA Singapore, one of the top players in motor and general insurance, exiting the business.

"AXA Singapore was ranked second for motor insurance in 2021. Besides thousands of policyholders, many small and medium-sized enterprises rely heavily on business from AXA and would be hit hardest following its exit from motor insurance. It's a story that needed to be told," said Ms Lim.

Ms Chor Khieng Yuit won one of the three Investor Education Journalist of the Year awards for her extensive reports about rising interest rates and the impact on home loan packages.

Ms Chor said: "I still have plenty to learn as a financial journalist and I thank all the financial experts who have so patiently talked to me and taught me stuff ... I hope to keep up to date with financial trends and keep writing financial articles that will inform and educate readers."

The awards ceremony is now in its 23rd year and was organised by the Securities Investors Association (Singapore) (Sias).

Sias chief executive officer David Gerald noted that most retail investors use information provided by the media as their primary sources for investment decisions.

"Investing today is not the same as before. There are more risks and more sophisticated products. Not only that, scammers are also more prevalent and getting more sophisticated," he added.

Journalists need to stay updated on the numerous products and issues and constantly upgrade to stay relevant and provide more in-depth analysis, which is demanded by investors who are readers, said Mr Gerald.

"If they don't get what they want from local publications, investors here just go to overseas publications at the click of a button.

"Thus, there is a need for the journalists here to constantly improve and provide timely information."

Mr Alvin Tan, Minister of State for the Ministry of Trade and Industry, told the event at Suntec Singapore Convention and Exhibition Centre: "Boards and directors play a crucial role in digital governance.

"As business operations digitalise, boards can and must become more attuned to digital and also cybersecurity risks - we've seen that emanate over the last couple of year."

He said that these risks include data security, data privacy, the use of cloud solutions and remote access to companies' networks, which are particularly relevant as working from home remains common here.