Bangkok--6 Sep--SET The Stock Exchange of Thailand (SET)’s New Listings Committee held its first meeting today, and concluded that it would draft a short-term action plan to expedite the filing of listing applications within this year, so that firms meeting this deadline would be eligible for tax privileges. Tax privileges available to listed companies will be included in a royal decree to be promulgated soon. Firms applying to list in 2007 and listed by 2008 will receive a 5% (for a SET listing) and 10% (for a Market for Alternative Investment, mai, listing) discount on the normal corporate tax rate of 30%. “The meeting went very well, with both public and private sector members working cooperatively and productively. We will tap potential listings from committee members’ business communities, and then coordinate with SET to invite those candidates to list. Concurrently, the Exchange’s management will nominate potential listings,” SET Chairman and committee chairman Mr. Pakorn Malakul na Ayudhya said. The immediate plan will be proactive marketing, supported by the Securities and Exchange Commission (SEC), whereby the committee and SET’s marketing team will approach potential firms. There will also be a ‘fast track’ scheme as an incentive, Mr. Pakorn added. The committee will meet fortnightly and SET’s management will present details of the draft plan at the next meeting. Over the long-term, planning will involve policy-level organizations and target overseas firms. The committee recognizes the importance of the capital market as an effective source of funds for businesses. Over the decade since the economic crisis, Thai businesses have raised about THB 1.7 trillion (approx. USD 49.42 billion) from the capital market, which is almost twice that raised from commercial bank loans. Obviously, promotion of the capital market as a fund raising channel should continue. Committee members are prominent executives from major economic agencies, including, Board of Investment, Export-Import Bank of Thailand, Federation of Thai Industries, Thai Bankers’ Association, Federation of Thai Capital Market Organizations, Thai Chamber of Commerce and Board of Trade of Thailand, Small and Medium Enterprise Development Bank of Thailand, SEC, and SET. 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