Bangkok--20 Apr--SET
The Stock Exchange of Thailand (SET) and Thailand Investor Relations Club (TIRC) are collaborating to promote corporate governance by encouraging listed companies to set up investor relations units and become TIRC members within the next two years.
SET Executive Vice President Mr. Suthichai Chitvanich said that SET and TIRC would work together on investor relations (IR) promotion in 2007. Activities will include training and skill development. Moreover, SET will provide financial support and act as the club’s liaison with experts in the field. SET and TIRC hope to get all listed companies to set up an IR unit or at least appoint a person responsible for IR work by 2009.
“Promoting corporate governance and IR is part of SET’s three-year strategic plan (running from 2007 to 2009) for developing listed companies. IR is important, as its task is to contact and communicate essential information to retail and institutional investors, securities analysts, and the media. The communication should enhance trust and the image of the companies. In the longer term, IR should help the share prices to be more stable and reflect their real value. This will be useful for its fundraising needs and considered a direct gain from IR work,” Mr. Suthichai said.
The president of TIRC, Mr. Naris Cheyklin, who’s currently Executive Vice President and Chief Financial Officer of Central Pattana PCL, disclosed TIRC plans and direction for 2007, noting that the club would collaborate with SET to promote IR and assist listed firms in setting up IR units. This will entail meeting and advising the firms and holding seminars and workshops. The club is also lobbying for the inclusion of IR in the Thai Institute of Directors Association’s course for the directors and top-level executives,” Mr. Naris said.
“This year’s focus will be on SET100 companies and firms that listed for the first time in 2006. SET100 companies are the focus of attention for local as well as foreign investors, while the new listings have a potential to run their IR work efficiently from the beginning if advised appropriately. In addition, SET has initiated its IR Promotion Project by hiring a consulting firm, Churchill Pryce Capital (Thailand), to conduct a study and analysis on IR activities of the firms ranked in the second half of the SET100 Index, as most of the firms in the first half have already conducted their IR work.”
“Firstly, three companies will be selected as samples,” the TIRC president said.
“The consulting firm will advise them on how to systematically devise IR plans and implement activities. The test period will be three months and is free of charge. Therefore, TIRC would like to encourage listed firms to actively participate in providing information to the consultant. SET will be sending out letters to the selected companies about this project by the end of April.”
SET and TIRC will also organize an IR course designed and conducted by Churchill Pryce Capital. It is expected that representatives from all listed firms will attend the course by end-2007.
TIRC was established at end-2001 by a group of listed companies’ IR units. These firms had the vision to realize just how important IR is to both a company and stakeholders, who need the company’s essential information. IR can ultimately help stock prices better reflect their fair value. Moreover, IR builds good relationships with the shareholders. The TIRC’s activities are supported by SET.
Presently TIRC has 237 corporate members, 287 individual members, and 16 committee members.
Persons wishing to learn more about TIRC, should visit www.thaiirclub.com or call Ms. Pitchayanun Watchara-Arpa, SET Corporate Governance & Investor Relations Center, 0-2229-2602 to 3.
For more information, please contact the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Sarinluck Jitkawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 / Watsamon Saowakhonsathien Tel: 0-2229-2797