Forward-looking guidance, done well, is not about forecasting earnings per share to the second decimal; it is about explaining strategic intentWhen companies do not articulate their thinking, the market fills the vacuum with its own assumptions, says the writer. PHOTO: TAY CHU YI, BTFOR years, Singapore-listed companies have been anchored to a simple rule: never give forward-looking guidance. Better to stay factual, backward-looking and safe than risk being wrong, misquoted or sued. In a Jan 16 post on its website, Singapore Exchange Regulation urged companies to provide forward guidance “thoughtfully” and “responsibly” to build investor trust. Now the regulator has spoken, how will companies take it from here?