13 January 2010
Mr Peter Ong, Permanent Secretary (Finance), Ministry of Finance, and Chairman of the Accounting and Corporate Regulatory Authority (ACRA), will be launching Open Analytics – an online financial analysis tool leveraging on the eXtensible Business Reporting Language (XBRL) financial statements filings with ACRA – at a lunchtime seminar on Thursday, 14 January 2010.
The business community will now be able to access financial information of Singapore companies in an interactive and dynamic manner through Open Analytics to enhance their decision-making process.
Directors, management and shareholders can compare performance against peers to identify improvement opportunities. For banks, Open Analytics provides the financial information of the companies they extend credit to for regular credit risk assessments against the respective industries, particularly for small and medium entities. Entrepreneurs and investors can identify untapped niche areas and hidden gems in the Singapore corporate space. Analysts can use Open Analytics to monitor and analyse trend performance of companies or any specific industry sector.
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