2010 Greater China and Taiwan IRGR Presentation

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IR Global Rankings EventTaipei – March 25, 2010



IR Global Rankings – 2010 Summary



IR Global Rankings

3

Created in 1999 (currently the 12th edition)

More than 1000 companies evaluated and ranked

Evaluations based on technical methodology; conducted by experiencedInvestor Relations professionals and independently reviewed priordisclose

Participants can choose to receive an individual feedback report with the

key findings. An individual conf call is held to review any questions.

B r i e f O v e r v i e w

S u p p o r t i n g

E n t i t i e s



Ranking Categories

4

IR WebsiteOnline Annual

ReportFinancial

DisclosureCorporate

GovernanceInvestors’

Choice

Evaluation

• Content

• Design &

Navigability

• Interactivity

• Technology &Data Handling

• Timeliness

Evaluation

• Content

• Design &

Navigability

• Interactivity

• Technology &Data Handling

Evaluation

• Operating

Information

• Financial

Statements (IS,

BS, CF)

• Guidance

• Conference Calls

• Exemplary

Disclosure

Evaluation

• Remuneration

and Performance

• Board

Accountability

• Capital Structure

• Shareholder

Protection

• Internal Controls

• Financial

Disclosure

Online Voting

• Best IR Program

• Best IR Officer



Sample of an IRGR Evaluation Spreadsheet

5

C o n t e n t

D e s i g n & N a v i g a

b i l i t y

V i s i b i l i t y o f I R W e b s i t e v s . O t h e r S e c t i o n s

L i n k t o I R H o m e p a g e i n E n g l i s h o n F i r s t P a g e

N a v i g a b i l i t y

C o m p a n y h a s a S

p e c i f i c I R M e n u

A l l S e c t i o n o f I R M

e n u A r e S e e n W i t h o u t C l i c k i n g

D o c u m e n t s C a n D

o w n l o a d D i r e c t l y W i t h o u t O p e n i n g N e w I n t e r n e t E x p l o

N u m b e r o f C l i c k s N e e d e d t o F i n d I n f o r m a t i o n

U p t o 2 C l i c k s f o r A n y I n f o r m a t i o n

F r o m 3 t o 4 C l i c k s

f o r A n y I n f o r m a t i o n

L i n k s t o O t h e r S e c t i o n s o f t h e W e b s i t e

H o m e i n " P o r t a l " F

o r m a t

L i n k s t o R e l a t e d T

o p i c s

I n t e r a c t i v i t y

T e c h n o l o g y a n d

D a t a H a n d l i n g

T i m e l i n e s s

A n n u a l R e p o r t R e

q u e s t D a t e

C o n t a c t P e r s o n ( e

m a i l , e t c . )

P a c k a g e S h i p p i n g

D a t e

C o n t a c t I n f o r m a t i o

n

S i t e h a s I R c o n t a c t ( s ) a n d / o r R e q u e s t F o r m

R e s p o n s i v e n e s s

C o m p a n y s e n t E - m a i l I n f o r m i n g P a c k a g e w i l l b e S e n t

P a c k a g e P o s t e d i n 4 B u s i n e s s D a y s f r o m R e q u e s t D a t e

P a c k a g e P o s t e d i n 5 - 1 5 B u s i n e s s D a y s f r o m R e q u e s t D a t e

U p d a t e s ( C o n s i d e

r e i n o t a m a x q d o t e m p r e ç o a ç ã o a t u a l )

U p d a t e D a t e I n f o r

m a t i o n A v a i l a b l e

L a s t W e b s i t e U p d

a t e - L e s s T h a n 1 W e e k

L a s t W e b s i t e U p d

a t e - L e s s T h a n 2 W e e k s

T o t a l

50,0 15,0 1,0 1,0 7,0 2,0 3,0 2,0 5,0 5,0 2,0 2,0 1,0 1,0 10,0 15,0 10,0 1,0 1,0 4,0 1,0 3,0 2,0 5,0 1,0 4,0 3,0 100,0

23,5 13,5 1,0 1,0 5,5 2,0 1,5 2,0 5,0 5,0 2,0 2,0 1,0 1,0 5,5 6,5 8,0 5-Jan-09 relaciones. inver 1,0 1,0 3,0 1,0 - 2,0 4,0 - 4,0 3,0 57,00

39,8 9,5 1,0 1,0 3,5 2,0 1,5 - 3,0 3,0 2,0 2,0 1,0 1,0 8,0 13,0 8,5 5-Jan-09 investor.relation 1,0 1,0 3,0 1,0 - 2,0 4,5 0,5 4,0 3,0 78,75

36,7 14,0 1,0 1,0 6,0 1,0 3,0 2,0 5,0 5,0 2,0 2,0 1,0 1,0 6,3 11,0 8,5 5-Jan-09 1,0 1,0 3,0 3,0 - 4,5 0,5 4,0 3,0 76,40

26,5 14,0 1,0 1,0 6,0 1,0 3,0 2,0 5,0 5,0 2,0 2,0 1,0 1,0 1,5 12,0 8,5 5-Jan-09 1,0 1,0 3,0 1,0 - 2,0 4,5 0,5 4,0 3,0 62,50

43,0 13,0 1,0 1,0 5,0 2,0 3,0 - 5,0 5,0 2,0 2,0 1,0 1,0 8,0 13,0 9,0 5-Jan-09 [email protected] 1,0 1,0 4,0 1,0 3,0 4,0 1,0 - 3,0 86,00

1,5 13,0 1,0 1,0 6,0 2,0 3,0 1,0 5,0 5,0 2,0 1,0 1,0 - - 2,5 4,0 1,0 1,0 - 3,0 - - 3,0 21,00

28,5 12,0 1,0 1,0 5,0 2,0 3,0 - 5,0 5,0 2,0 1,0 1,0 - 2,3 7,5 6,0 5-Jan-09 1,0 1,0 - 5,0 1,0 4,0 3,0 56,25

26,5 12,0 1,0 1,0 5,0 2,0 3,0 - 5,0 5,0 2,0 1,0 1,0 - 4,8 10,0 9,0 5-Jan-09 gmansur@ami l. 1,0 1,0 4,0 1,0 3,0 - 4,0 1,0 2,0 3,0 62,25

9,5 8,0 - - 2,0 2,0 - - 5,0 5,0 2,0 1,0 1,0 - 3,3 11,0 6,0 5-Jan-09 AMPServices@ 1,0 1,0 1,0 1,0 - - 4,0 4,0 3,0 37,75

3,0 9,0 - - 3,0 1,0 - 2,0 5,0 5,0 2,0 1,0 1,0 - - 2,0 1,0 5-Jan-09 1,0 1,0 - - - - - 15,00

24,5 12,0 1,0 1,0 4,0 2,0 - 2,0 5,0 5,0 2,0 2,0 1,0 1,0 3,3 12,0 8,5 5-Jan-09 corporatecomm 1,0 1,0 3,0 1,0 - 2,0 4,5 0,5 4,0 3,0 60,25

26,0 8,0 1,0 1,0 2,0 2,0 - - 3,0 3,0 2,0 2,0 1,0 1,0 8,3 13,0 8,0 5-Jan-09 1,0 1,0 3,0 3,0 - 4,0 - 4,0 3,0 63,25

28,5 8,5 1,0 1,0 3,5 2,0 1,5 - 2,0 - 2,0 2,0 1,0 1,0 2,0 8,5 3,5 5-Jan-09 1,0 1,0 - 2,5 0,5 2,0 1,5 51,00

8,0 8,0 1,0 1,0 3,0 2,0 - 1,0 3,0 3,0 2,0 1,0 1,0 - 2,0 11,0 5,0 8-Jan-09 1,0 1,0 - 4,0 - 4,0 3,0 34,00

34,5 12,0 1,0 1,0 5,0 2,0 3,0 - 5,0 5,0 2,0 1,0 1,0 - 6,5 13,0 9,0 5-Jan-09 4823. flavia@br 1,0 1,0 4,0 1,0 3,0 4,0 - 4,0 3,0 75,00

23,5 12,5 0,5 0,5 5,0 2,0 3,0 - 5,0 5,0 2,0 2,0 1,0 1,0 2,0 10,0 8,0 5-Jan-09 1,0 1,0 3,0 3,0 - 4,0 1,0 2,0 3,0 56,00

22,0 7,0 1,0 1,0 2,0 2,0 - - 3,0 3,0 2,0 1,0 1,0 - - 9,0 5,0 5 -Jan -09 CATABOTE@B 1,0 1,0 1,0 1,0 3,0 - 2,0 3,0 43,00

38,3 15,0 1,0 1,0 7,0 2,0 3,0 2,0 5,0 5,0 2,0 2,0 1,0 1,0 8,5 11,0 5,5 5-Jan-09 1,0 1,0 - 4,5 0,5 4,0 3,0 78,25

43,5 10,0 1,0 1,0 2,0 2,0 - - 5,0 5,0 2,0 2,0 1,0 1,0 7,5 14,0 9,0 5-Jan-09 1,0 1,0 3,0 - 3,0 - 5,0 1,0 4,0 3,0 84,00



The IR Global Rankings Cycle

6

IRGRRegistration

Period

Evaluation

Process

AwardCeremonies

Best Practices& Feedback

Reports

ConferenceCalls

BenchmarkReport

Enhanced IRPrograms

Revision andUpdate of

IRGR

The IR Global Rankings: an ongoing, year-round process for

both Participants and the Rankings team

Continuous Improvement



Key IR Global Ranking Points

7

A TrueGlobal

Ranking

UniqueEvaluation

Method andRanking System

Transparency

IndividualFeedback

ReportsGlobal Benchmark

Comparisons

Recognition

What Makes IR Global Rankings Unique?



Summary of the 2010 Edition

8

503 Participants from 35 countries and 10 industries

5 Global Ceremonies: Amsterdam, Taipei, Beijing, New York and São Paulo



Breakdown of Participants per Region

9

Asia/Pacific

& Africa

19%

Europe

25%

North

America

20%

Latin

America

36%

2009 Edition

163 companies from 32 countries

Europe

26%

North

America

21%

Latin

America

34%

Asia/Pacific

18%

Africa

1%

2010 Edition


Africa

1%

Asia/Pacific

37%

Europe23%

LatinAmerica

19%

NorthAmerica

20%



7%

9%

8%

15%

9%

15%

7%

17%

8%

5%

Basic Materials

Consumer Goods

Consumer Services

Financial Institutions

Health Care

Industrials

Oil & Gas

Technology

Telecommunications

Utilities

2010 Registered Companies by

Industry

9%

8%

5%

17%

8%

17%

7%

10%

12%

7%

Basic Materials

Consumer Goods

Consumer Services

Financials

Health Care

Industrials

Oil & Gas

Technology

Telecommunications

Utilities

2009 Registered Companies by

Industry

Breakdown of Participants per Industry

10

2009 Edition


2010 Edition




IR Global Rankings 2010Main Trends



2010 IRGR Highlights

•

Content – Disclosure of Corporate Governance information;

– Investor Days / Meetings’ information;

– Audio and transcripts of conference calls.

12

FOCUS: IR Productivity and Efficiency

Differentiate from others through detailed content

64%51%

69% 66% 64%

46%35%

55% 60%54%

Afr ica Asia/Pac ific Europe Latin

America

North

America

Content

2 010 20 09

86%77%

92%83%

92%

63% 61%

79%71% 75%

Afr ic a Asia/Pac ific Eur ope L atin

America

North

America

Corporate Governance

2010 200 9

Aftermath of the crisis: improve content



Shinsei Bank

www.shinseibank.com/investors/en/ir/


13

Not only what, but

HOW it is

structured.

Describe roles and

responsibilities.

Corporate Governance Information



METRO AG

www.metrogroup.de


Complete and thorough

information: bio, term of

office, fields of

responsibility .

14

Corporate Governance Information




Earnings Release in

(html/pdf); Financials

(html/excel); ConferenceCalls Presentations

(pdf/links to webcasts) .

Nexen

www.nexeninc.com

Special section for Investors’ Day: all

presentations, webcasts

and transcripts.

15

Quarterly Calls & Investors’ Days

http://www.nexeninc.com/

http://www.nexeninc.com/



•

Interactivity – Financial data in downloadable Excel format;

– Social networks, Web 2.0.


16

43%33%

54% 56%70%

34%25%

44%51%

64%

A fr ic a Asia/Pac ific Eur ope L atin

America

North

America

Interactivity

2010 2009

0%

22%

14%

19%

27%

0%

8%11%

7%

13%

Afr ica Asia/Pacific Europe Latin America North

America

Web 2.0 / Social Media

2010 2009

FOCUS: IR Productivity and Efficiency

Facilitate the access to / distribution of existing info

Back to basics: implement simple features




17

Event Centric Charts, Downloadable Files

METRO AG

www.metrogroup.de

Event-centric charts, with

comparisons with main

indexes, peers in

downloadable files.




Social Bookmarking:

linking to main/most

popular social networks

available.

18

Social Networks

METRO AG

www.metrogroup.de

Next steps: not only which network to use,

but how content should be

presented/posted/monitored.



Room for improvement

Asian companies have improved across all categories, but there is still a long wayto go to meet global standards, specially on basic content:

• investment message;

• comments on industry;

• corporate governance practices;

• debt Information;

• outlook;

• slide presentations;

• earnings;

• annual reports;• press releases;

• regulatory filings. 25%18%

45%

60% 64%

Africa Asia/Pacific Europe Latin

America

North

America

Income Statement and BalanceSheet (Complete Version)

56%

34%

62% 59%54%

Africa Asia/Pacific Europe LatinAmerica

NorthAmerica

Content

Highlights ASIA

19



Bursa Malaysia Berhad

www.bursamalaysia.com


Visual data: graphs going

along donwloadable data.

20

Financial Data (1)

Complete financial data & other info in anorganized simple table.

AmBev

www.ambev-ir.com



Del Monte Foods Company

http://investors.delmonte.com/


Simple and clear info

about each committees’ members.

21

Financial Data (2) and Corporate Governance

Top notch interactivity in financial

fundamentals section.



K+S Aktiengesellschaft

http://www.k-plus-s.com/en/ir/


Investors’ Fact Book: easy

to find, interactive

investors’ kit.

22

Financial Data (3)

Debt and other BS info breakdown and evolution



IRGR Scores x P/E x Mkt.Cap

23

1

2

3

4

5

-

5,0

10,0

15,0

20,0

25,0

65,00 70,00 75,00 80,00 85,00

T r a i l i n g

P / E

IRGR Score - Website

Health Care

1

2

34

5

-

5,0

10,0

15,0

20,0

25,0

30,0

35,0

68,0 70,0 72,0 74,0 76,0 78,0 80,0 82,0

T r a i l i n g

P / E


Technology

12

3

4

5

-

2,0

4,0

6,0

8,0

10,0

12,0

14,0

16,0

18,0

67,0 68,0 69,0 70,0 71,0 72,0 73,0

T r a i l i n g

P / E


Utilities

Mkt Cap

Source: Bloomberg, March 2010

• Small caps, even with smaller budgets,

can put together an efficient IRProgram with solid results;

• Global standards convergence is likely

to prevail over regional or industry

characteristics.



Questions & Answers



AppendixKey Technical Criteria For IRGR 2010



IR Website Ranking

26

Categories for IR Website

ContentDesign &

NavigabilityInteractivity

Technology &Data Handling

Timeliness

Technical evaluations revised by technical independent committee



IR Website Ranking

27

ContentDesign &

NavigabilityInteractivity

Technology &Data Handling

Timeliness

Investment &

strategy messages

Corporate

governance

Corporate

responsibility

Industry highlight

Filings & releases

Equity research

guidance

Remember the

rule: less is more

Information

intuitively found

Number of clicks

necessary

Updated event

calendar and

FAQ

Spreadsheet

downloads

Interactive price

charts

E-mail alerts

Use of webcasts,

podcasts, RSS

Mobile access

Search tool

Site map or site

tracking

Contact details

for IR team

Update status

of sections

Key Themes and Tools Considered for IR Website

50% 15% 10% 15% 10%



Financial Disclosure Ranking

28


Financial Disclosure

OperatingInformation

IncomeStatement

BalanceSheet

Cash FlowStatement

GuidanceConference

CallsExemplaryDisclosure



Financial Disclosure Ranking

29

OperatingInformation

Financial Statements(BS, IS, CF)

GuidanceConference

Call

Relevant data

such as volumes,

prices, market

shares, etc.

Presence of

summary tables

to facilitate

viewing

Complete and

detailed financial

statements

MD&A reporting is

recommended with

detailed

explanations for

financial results

Easy to find

Updated

Changes or

buildup of

trends

Guidance for

operating datais also helpful

Actual earnings

conference calls

Transcripts and

earnings

presentation

Key Themes and Tools Considered for Financial Disclosure

15% 60% 10% 5%

ExemplaryDisclosure

Equitable

treatment in

reporting

Conference calls

and supporting

materials

IFRS and

USGAAP

10%



Corporate Governance Ranking

30


Corporate Governance

Remuneration

&

Performance

Board

Accountability

Financial

Statements &

Disclosure

Capital

Structure

Shareholder

Protection

Shareholder

Meetings

Internal

Control

Mechanisms



Corporate Governance Ranking

31

Key Themes and Tools Considered for Corporate Governance

Remuneration&

Performance

BoardAccountability

CapitalStructure

Shareholderprotection &Shareholder

meetings

Internal Control

Mechanisms

Formal

evaluation/com

pensation for

executive

officers

Policies that tie

management

compensationto performance

indicators

Board

composition /

independent

board members

Committees

and charters

Succession plan

Capital held by

the controlling

group and free

float

Policies for

mandatory

offerings

Policies

regarding share

classes and

voting rights

Tag-along

minority

shareholders

Policies that

regulate cross-

shareholding

Proxy voting at

shareholders’

meetings

Disclosure of

Policies for

related-party

transactions

Dividend policy

Nomination

committee

29.5% 7.5% 25.5% 17% 15.5%

Financial

Statements &

Disclosure

IFRS and USGAAP

Policy of

providing

detailed

financial

statements.

5%



•

Categories: Best IR Program & Best IR Officer

• Online Voting Period: November 16, 2009 to December 16,

2009

• Voting Channels: IR websites (through a specific Investors’

Choice banner) and the IR Global Rankings homepage

Investors’ Choice Ranking

32

Votes counting and validation revised by KPMG



Individual Feedback and Best Practices Report

• Participants who choose to acquire the individual feedback report

will receive suggestions for improvements where applicable, as wellas a benchmark report with key best practices and examples to

follow for each category

33

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2010 Greater China and Taiwan IRGR Presentation

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