Core Insights - The potential shift from quarterly to semi-annual reporting in the US could lead to less frequent updates on company performance, impacting investor communication and trust [1][2][3] Group 1: Reporting Frequency and Investor Impact - Singapore's transition to semi-annual reporting in February 2020 resulted in many companies opting for less frequent updates, highlighting a trend where companies may prioritize reduced reporting over regular communication [3][4] - Financial services firms like DBS Group chose to maintain quarterly reporting to build trust and confidence among investors, demonstrating the importance of regular communication in certain sectors [5] - Different types of investors have varying needs; value investors rely on quarterly updates for tracking recovery plans, while growth investors may benefit from less frequent reporting that allows for long-term focus [14][15][16] Group 2: Quality of Communication - The quality of communication is more critical than the frequency of reporting; companies that wish to engage meaningfully with shareholders often find alternative ways to provide insights beyond quarterly earnings calls [12][13] - Companies that do the bare minimum in reporting may remain opaque regardless of how often they disclose results, indicating that transparency is not solely dependent on reporting frequency [20][21] Group 3: Market Dynamics - The removal of quarterly reporting could alter how markets price stocks, as the current system creates a cycle of trading based on earnings expectations [16][17] - High-quality businesses with strong management may not be affected by changes in reporting frequency, as their value creation occurs over time rather than through frequent updates [18][19]