Bangkok--Nov 15--Ogilvy Public Relations
JPMorgan’s Asia-Pacific Chairman, Ralph Parks, said yesterday that he has strong confidence in Thailand’s economy and the outlook of its equity capital market at a meeting in Bangkok with Thailand’s Deputy Prime Minister, Chaturon Chaisaeng, and Chief Policy Advisor, Pansak Winyarat, at Government House.
“Under the strong leadership of Prime Minister Thaksin, Thailand’s economy has been successfully turned around. His dual-track economic policies
focusing on boosting domestic businesses in addition to strengthening exports allow Thailand to increase the vitality of the economy and to reduce its volatility to external risks,” said Parks at the meeting.
He added, “Prime Minister Thaksin has restored the international investment community’s confidence in Thailand by bringing the country’s fiscal
reserves to a much stronger level, along with efforts to minimize external debt.”
At the meeting, JPMorgan’s senior management exchanged views with the
Deputy Prime Minister on a wide range of topics regarding the continued growth of Thailand’s capital markets and economy in 2005 and onwards, in particular the funding for various mega projects to enhance the existing infrastructure in Thailand while maintaining domestic liquidity and the fiscal strengths of the economy.
JPMorgan’s Senior Country Officer for Thailand, Vorapak Tanyawong, said, “Privatization should be a priority for the government because of the
tremendous benefits to state-owned enterprises and the increased efficiency
of the economy and capital markets as a whole. The state-owned enterprises will see increased transparency, improved governance and significant strengthening of management in both operational and financial efficiency.
The added depth and breadth to the state-owned enterprises through
international share offerings will raise Thailand’s footprints in regional
benchmarks and support the continued inflow of foreign capital.”
“JPMorgan has global expertise in privatization and has advised on and
executed a number of the largest privatization projects around the world, including the most recent PTT and Thai Oil IPOs for which the firm has leveraged its global platform to market these high-quality companies to international investors. JPMorgan is very interested in offering its expertise to state enterprises and the Thai government to properly restructure these assets and attract foreign capital to boost their competitiveness,” said Vorapak.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries.
The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. has its corporate headquarters in
New York and its U.S. retail financial services and commercial banking
headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the
world's most prominent corporate, institutional and government clients.
Information about the firm is available at www.jpmorganchase.com.
Click for photo release at www.thaipr.net End.