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Cloud Registry Service For Listed Companies

The South Pacific Stock Exchange is moving all its current listed companies towards a cloud-based registry service to ease shareholder access. SPSE chief executive, Latileta Qoro, said the service basically
30 Nov 2015 11:08
Cloud Registry Service For Listed Companies

The South Pacific Stock Exchange is moving all its current listed companies towards a cloud-based registry service to ease shareholder access.

SPSE chief executive, Latileta Qoro, said the service basically allows the shareholders to log on from anywhere provided they have internet access.

“So they get their username and password and they log on and can check their account details, check the shares they are holding,” she said.

“That cloud based software is also connected to our end of day prices so at the end of the day, investors actually know the value of their shareholding.

“In the past, in the absence of this cloud based platform, they actually had to call or ask us and then we would have to send them statements.

“This is ease of business and it reduces the cost for them but also on that platform they can check their dividend payments.”

Ms Qoro said they can also check if there are any unclaimed dividends of which they have over $300,000 as people don’t know the dividends owing to them.

“All this information is available on the individual accounts online and they can claim that,” she said.

“So what it does is it reduces time taken and the cost associated with shareholders physically coming down to the office to get their issues solved.”

The service is not only for listed companies but the stock exchange will offer the service to non-listed companies at a fee.

“So if you are unlisted and have a lot of shareholders, at a fee, we can offer you this service as well,” Ms Qoro said.

 

Time right to list

Ms Qoro believes the time is perfect for private companies to consider listing on the stock exchange with similar sentiments being echoed by Government as well.

“You will have 10 per cent corporate tax rate while everyone else is paying 20 per cent,” she said.

“There are many other tax incentives but aside from that when you list, you get the benefits to realise the true value of your company. Also you get to increase the ownership in your company.

“When you list, you ascribe to a higher standard of corporate governance and that’s what clients’ value.

“So when big strategic partners and export partners are talking to your business and want to strike a deal with you and you tell them that you are listed, they buy the shares.

“They know your corporate governance is of great structure and you value corporate responsibility.”

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