Bangkok--May 26--SET
President of the Market for Alternative Investment (mai), Mr. Vichate Tantiwanich, announced that thean official name of the mai has been approved by the SET Board of Governors. to have iThe market’s officialts Thai name will bedubbed as M-A-I, (pronounced as the 3 individual English letters) instead of “mai” (as in “Ppi”). Its English acronym will be the lowercase “mai”.
“The change of the Thai pronunciation to M-A-I market is to better reflectin accordance with its English acronym --of “mai”. The name is also easy to remember. The mai was created to providemarket facilitates investors with greater investment alternatives and the entrepreneurs to have more investment alternatives and with a more efficient funding source,” said Mr. Vichate.
The name “mai” is derived from the“ Market for Alternative Investment”. The maiIt was established to help small and medium -sizedwith an aim to support businesses with goodhaving growth potential toin accessing long-term funding source in the capital market whilst carrying a lower level of risks. This will help reduce financial costs of businesses, and hence improve theirenhancing higher efficiency in financial management.
The mai president went on to say that: “The mai will act as abe fundraising channel for young entrepreneurs starting out inof knowledge- or innovation-based businesses. To qQualifyies businesses for mai listing, a business should have at least THB20 mln. in registered capital, have been continually operating for a period oft least no less than 2 years, have a minimum oft least 20% of their sharesstakes held by retail shareholders, and must show a profits in the most recent year prior to listing.
“Besides being a market for young entrepreneurs, the mai is also an alternative for investors those wishing to invest in companies which are experiencshowing leapfrogging exponential growth trends in both their revenues and profits, or in a way that it showing signs ofs it can reaping gains in line with Thailand’s economic growth trends..”
Companies submitting their listing application by December 31, 2005, will receive a 10% discount on theirfrom corporate taxes, reducing their taxes, from the normal rate of 30% to 20% for five consecutive years starting from their listing date. The privilege has been offered to encourage high potential businesses to access low-cost fundraising source to expand their operations, and hence significantly contribute to greatersupporting for more growth inof the Thai economy.
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
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.