Investor Relations in Asia Moves Beyond Disclosure as Companies Seek Strategic Market Engagement

HONG KONG, April 16, 2026 – As Asia’s capital markets become more sophisticated and interconnected, the role of investor relations is undergoing a clear shift. What was once a function centred on disclosure is now increasingly positioned as a strategic bridge between companies and the investment community.

For Joanne Chan, Founder and Managing Director of LBS Communications Consulting, this evolution reflects changing expectations from investors, regulators and companies operating across multiple markets.

“In the past, investor relations was largely about compliance and disclosure. Today, it is about shaping understanding, building long-term relationships and supporting valuation through consistent engagement,” she says.

Chan established LBS Communications in 2012 to address a gap in the market, particularly among small and mid-cap listed companies. While many of these companies had strong fundamentals, they struggled to attract investor attention in markets where larger corporates dominated visibility. LBS positioned itself as an independent investor relations and financial communications firm, focusing on helping such companies articulate their value clearly.

This independence allowed the firm to concentrate on storytelling, positioning and market engagement without being tied to investment mandates or product-led priorities. Over time, the firm has expanded its footprint across Hong Kong, mainland China and Singapore, supporting clients that range from listed companies to emerging businesses and investment platforms.

Investor expectations continue to evolve

Chan points to several factors that have reshaped investor expectations in recent years. These include rapid information flows, technological change, geopolitical uncertainty and a growing emphasis on sustainability.

As a result, investor communication has become more dynamic and continuous. An effective investor narrative today needs to connect financial performance with a clear strategic roadmap, while also addressing risks and uncertainties in a transparent manner.

Companies are also expected to explain how they are adapting to broader trends, including regulatory developments, technological shifts and ESG considerations. “Communication is no longer limited to results announcements. It needs to be proactive and responsive, with regular engagement across different channels,” Chan explains.

Integrating ESG into the investment narrative

One of the most significant changes in investor relations has been the integration of sustainability considerations into mainstream communication. In markets such as Hong Kong and Singapore, regulatory requirements around ESG disclosures have tightened, but investor expectations have moved further.

Investors now assess how sustainability initiatives influence risk, cost of capital and long-term competitiveness. Chan notes that many companies still approach ESG as a reporting exercise rather than a strategic component of their business narrative.

A common gap lies in translating sustainability initiatives into clear, investor-relevant messaging. Companies often set ambitious targets but fail to outline credible roadmaps or measurable milestones. “There needs to be clarity on how ESG initiatives link to revenue opportunities, cost efficiencies and overall business strategy,” she says.

Another challenge is the separation of ESG from core investor communication. When sustainability is treated as a standalone function, it becomes difficult for investors to assess its impact on business performance.

Hong Kong and Singapore as complementary hubs

Operating across multiple markets has given LBS a vantage point on how regional financial centres are evolving. Chan views Hong Kong and Singapore as complementary rather than competing hubs.

Hong Kong continues to offer strong connectivity to mainland China and deep liquidity in public equity markets. Singapore, on the other hand, has developed a strong ecosystem around private capital, family offices and emerging sectors such as technology and sustainability.

For companies seeking to engage investors across Asia, this creates an opportunity to adopt a dual-market approach. In Hong Kong, communication strategies may focus on equity narratives and connectivity to China-related capital. In Singapore, the emphasis can shift towards regional expansion, partnerships and thematic areas such as innovation and sustainability.

“The key is to maintain a consistent core narrative while adapting the emphasis to what each market values,” Chan explains.

Supporting cross-border expansion

For mainland Chinese companies expanding into Southeast Asia, investor communication requires careful localisation. Chan advises companies to invest time in understanding the regulatory environment, media landscape and investor expectations in each market. Building relationships with local stakeholders is essential, particularly in markets such as Singapore, Malaysia and Indonesia, where investor profiles and perceptions can differ significantly.

Transparency and governance also play a central role in building trust, especially given the scrutiny that cross-border investments often attract. Companies that engage consistently with local stakeholders, rather than only during fundraising periods, are more likely to establish long-term credibility.

In the early years of LBS, one of the main challenges was establishing credibility as an independent firm in a relatively niche segment. Chan addressed this by focusing on tangible outcomes, including facilitating direct engagement between investors and companies and organising investment-focused platforms.

The firm also expanded into mainland China at a time when cross-border investment flows were increasing, building a network that supported its regional advisory capabilities.

Today, as investor relations continues to evolve, the emphasis remains on staying close to market developments and adapting to emerging themes such as artificial intelligence, digital assets and sustainability.

The evolution of investor relations reflects broader changes in how capital markets operate. As companies expand across borders and investors seek greater transparency and long-term value, communication is becoming a critical component of corporate strategy.

For advisory firms such as LBS, this creates an opportunity to play a more strategic role in shaping how companies engage with the market. The shift from disclosure to dialogue is likely to define the next phase of investor relations in Asia, as companies navigate increasingly complex and interconnected financial ecosystems.