Bangkok--23 Aug--SEC
The SEC today launched the project “SMEs Bond” to promote another fundraising channel for small and medium-sized businesses with many privileges until the end of the year.
The project is a collaborative effort with (1) the Thai Bond Market Association, (2) TRIS Rating Co., Ltd., (3) Fitch Ratings (Thailand) Co., Ltd., (4) Bond Electronic Exchange (BEX), (5) Thai Listed Companies Association, (6) mai Listed Companies Association, (7) the Federation of Thai Industries, and (8) the Thai Chamber of Commerce.
SEC Secretary-General Vorapol Socatiyanurak said: “With over 3 million SMEs located nationwide, this type of business is key to economic growth. Our mission is to facilitate fundraising through the capital market for SMEs such as issuance of bond and bill. Like the “Pride of the Provinces” project, “SMEs Bond” project participants can join training courses on market knowledge and fundraising vehicles to get better equipped with bond issuance, and apply for credit rating agency’s rating at a lower cost. CRA reviews would stimulate performance improvement, increase SMEs reliability, enhance recognition from business partners and customers, and by extension, boost SMEs competitiveness and Thailand’s GDP growth.”
Privileges for SMEs Bond project participants include lower rating fee under specific terms and conditions from TRIS Rating Co., Ltd. and Fitch Ratings (Thailand) Co., Ltd., discount on registration admission fee, annual fee and training fee from Thai Bond Market Association, project publicity by BEX, the Thai Listed Companies Association and mai Listed Companies Association, and nationwide information distribution by the Federation of Thai Industries and Thai Chamber of Commerce. The SEC will waive application fee for product approval and reduce submission fee for initial registration statement.
Eligible applicants are companies limited or public companies limited established under Thai laws, excluding financial institutions or financial service operators. In addition, the companies’ asset as specified in the financial statement must be at a maximum of 2 billion baht as of the application date.
The SMEs Bond project runs from September 1 to December 28, 2012. Submission of application for approval of issuance for sale of bonds or bills within the last working day of December 2013 will receive fee exemption from the SEC and Thai Bond Market Association.
“We are seeking opportunities to expand business sector’s access to sources of fund in the capital market, while maintaining investor protection. The ‘Pride of the Provinces’ project raised a total of strong potential 104 companies from 34 provinces in different industries,” said SEC Chief.
In addition to the SMEs Bond project, the SEC supports business operators to recognize private equity (PE), a joint venture investment aiming to promote business expansion of strong potential business or business with new technologies.
The SEC will hold a free seminar on “Private Equity: Business Alliances for Business Growth” for SMEs on August 28, 2012 at 08.30-12.00 hrs. at Grand Hall, Plaza Athinee Royal Meridian Hotel, Wireless Road.
Interested companies can download SMEs bond application form at www.sec.or.th/smebond. For more information, please call 0-2263-6000 press 2. For “Private Equity: Business Alliances for Business Growth” registration, please call 0-2263-6108.