The Business Times
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Learning to speak about the future without promising it

Forward-looking guidance, done well, is not about forecasting earnings per share to the second decimal; it is about explaining strategic intent

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    • When companies do not articulate their thinking, the market fills the vacuum with its own assumptions, says the writer.
    • When companies do not articulate their thinking, the market fills the vacuum with its own assumptions, says the writer. PHOTO: TAY CHU YI, BT

    Jeffery Tan

    Published Fri, Jan 30, 2026 · 07:00 AM

    FOR years, Singapore-listed companies have been anchored to a simple rule: never give forward-looking guidance. Better to stay factual, backward-looking and safe than risk being wrong, misquoted or sued.

    That instinct is understandable. But in today’s markets, it is no longer sufficient.

    In a Jan 16 post on its website, Singapore Exchange Regulation urged companies to provide forward guidance “thoughtfully” and “responsibly” to build investor trust. Now the regulator has spoken, how will companies take it from here?

    SGXMarket outlookInvestment outlookSingapore Stocks

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