Bangkok--Sep 28--SET
"THE STOCK EXCHANGE OF THAILAND AND MAI JOINED HANDS WITH THE FEDERATION OF THAI INDUSTRIES, BANK OF AYUDHYA, VNET AND PRICE WATERHOUSE COOPERS TO HELP MORE QUALITY BUSINESS ES TO LIST"
The Stock Exchange of Thailand (SET) and the Market for Alternative Investment (MAI) have signed a Memorandum of Understanding (MOU) with the Federation of Thai Industries, the Bank of Ayudhya, VNET Venture Capital Management Securities and PricewaterhouseCoopers FAS to encourage quality Thai businesses with high growth potential to access sources of funding in order to enhance their competitiveness.
After the signing today (September 27, 2004), the SET President, Mr. Kittiratt Na-Ranong, said “the cooperation of all 6 agencies is aimed at encouraging quality Thai businesses with high growth potential to become better ready and capable of adjusting themselves to ever-changing economic conditions. More importantly, this move helps Thai businesses with potential to quickly and effectively find access to both short-term and long-term sources of funding. That will help more quality businesses become listed firms.”
Ms. Sopawadee Lertmanaschai, Managing Director of the Capital Market Opportunity Center and the Market for Alternative Investment (MAI), said, “all 6 agencies will work together to provide support for high potential businesses seeking to become listed firms, by providing consulting and other special privileges for target companies that participate in any of the activities organized by these 6 agencies. The group’s activities will include seminars on modern management and competitiveness enhancement, promotion of corporate governance, as well as mutual exchanges of support, information, related data and public relations.”
The Chairman of the Federation of Thai Industries, Mr. Praphad Phodhivorakhun, commented on the collaboration among the 6 private agencies by saying, “Such a project will be very beneficial for industrial operators which demonstrate potential and determination to develop themselves to survive in this competitive environment. Most of these operators still lack opportunities to find access to sources of funding and business consultation from specialists. After the MOU was signed, FTI will speed up its public relations on this project and its cooperation with its allies by introducing various activities to upgrade the standards and efficiency in business management of the target companies. We will prepare the target companies so that they can better access both short-term funds from financial institutions and longer-term funds from joint ventures.
“The target group of FTI will first be medium-sized entrepreneurs that have the greatest potential, such as those in basic industries, processed agricultural products and automobile industries. We will look to all regions” said Praphad.
FTI and its allies have organized a seminar entitled “Adjusting the Company’s Vision Towards the Capital Market … for Sustainable Growth”, to be carried out as 5 separate roadshows in 5 regions. The results of the first 2 events, in Nakorn Ratchasima in August and in Songkhla in September, found a lot of entrepreneurs expressing their interest in joining the sessions. The next seminars are scheduled in Chachoensao on October 15, 2004 and on November 20, 2004 in Chiang Mai. The final session will be held at The Stock Exchange of Thailand on December 14, 2004.
Dr. Jamlong Atikul, President of the Bank of Ayudhya Pcl (BAY), said that the BAY will work collaboratively with all agencies in supporting and developing quality Thai businesses that demonstrate a high growth potential.
“The Bank of Ayudhya (BAY) is ready to provide credit lines as well as other quality financial services, including consulting services for quality companies with high potential, which wish to list on the SET or the MAI. BAY will also provide information, news, documents and financial advice related to trade, investment and international trade risk management” said Dr. Jamlong.
Mr. Chanitr Charnchainarong, Director of VNET Venture Capital Management Securities Co., Ltd., said that this cooperation is aimed at developing the potential of Thai businesses to achieve sustainable growth by being able to adjust themselves to the ever-changing conditions of the markets both locally and internationally, in a more efficient manner.
“What VNET is attempting to achieve includes the promotion of high potential businesses to list themselves on The Stock Exchange of Thailand. VNET also intends to provide strategic consultations, introductions of potential clients to the SET and MAI, plus exchange knowledge, information and news as well as participate in creative activities with its allied agencies.”
Varunee Pridanonda, Partner, Price Waterhouse Coopers FAS, said “the company is pleased to provide knowledge and advice on accounting, internal control, controllership, risk-management, internal auditing and efficiency improvement as well as tax systems for target companies, in order to promote a better understanding of these areas as well as to provide guidance towards their proper development and implementation. We believe these subjects are all beneficial to businesses that need to improve their potential for sustainable growth.”
For more information, please contact
the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036 /
Kulvida Jintakawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 End.
--InfoQuest (NT)--