Bangkok--Oct 19--SET
The TSD is waiving the fees for unit holders of the Vayupak Fund I and giving a 10% discount on its annual registrar fees so that its clients can use the e-dividend service without charge. The TSD is also waiving the fees related to scripless accounts, e.g., on deposits, withdrawals, transfers or any adjustments of the registration book.
The President of Thailand Securities Depository Co., Ltd. (TSD), Mrs. Nongram Wongwanich, disclosed that this year, the TSD is waiving the fees for unit holders of the Vayupak Fund I as well as the annual registrar fees for the listed companies. The incentives were aimed at encouraging investment in Vayupak Fund I and reducing the burden of fee expenses on listed companies.
“The unit holders of Vayupak Fund I will have the following fees waived — unit transfers, requests for unit certificates, trading fees and fees related to benefit transfers. This will help reduce their fee burden whilst facilitating the investment of Vayupak Fund I’s unit holders,” the TSD President said.
Additionally, the TSD has also reduced its annual registrar fee to listed companies by 10% except for the companies that have already paid the fee at the minimum rate. The ceiling for the annual registrar fee has been reduced from seven mln. baht (approx. USD170,730) to five mln. baht (approx. USD121,950), effective since January 1, 2004. This is aimed at encouraging the listed companies to use the TSD’s e-dividend service, which transfers listed companies’ dividends directly to their shareholders’ bank accounts. This helps lessen the burden of issuing cheques for dividend payments, whilst entitling the shareholders of those companies to receive their dividends via their bank accounts with no additional expenses. Shareholders residing outside Bangkok will gain on inter-provincial cashing fees and will no longer have to pay money transfer fees to their banks.
Mrs. Nongram added that the TSD has also reduced other fees to listed companies this year, e.g., its membership fee and those relating to the scripless accounts, which include those for deposits, withdrawals, transfers and changes in the registration books. These fee reductions are meant to encourage listed companies to use the scripless system. Presently, only 239 companies, or 56% all listed companies, use the scripless system.
Any listed companies or investors interested in the TSD’s services should contact the TSD Call Center at tel. 0 2229 2888 or email [email protected]
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