Bangkok--20 Nov--SET The Thai Finance Minister joined the Securities and Exchange Commission (SEC), the Stock Exchange of Thailand (SET) and leading companies at a recent forum for top Thai companies on organizational and capital market development. At the Top Executives Networking Forum 2007: Listing…Benefits for all, organized by SET, listed firms’ executives articulated the benefits of the capital market in fundraising, providing tax breaks and lifting companies’ standards and profiles. Almost 80 executives, representing the capital market and Thailand’s top 37 firms, 12 of which are listed and the remaining 25 unlisted, participated in the event during November 16 - 18. The Ministry of Finance appreciates the importance of the capital market and has provided tax privileges for companies wishing to list on SET and Market for Alternative Investment (mai). These tax incentives reduce corporate income tax to 25% for SET-listed firms and 20% for mai-listed firms, thus increasing their fund-raising potential. The Ministry is supporting the listing of Esso (Thailand) PCL and Don Muang Tollway PCL in 2008. These firms have a combined market capitalization of around THB 60 billion (approx USD 1.76 billion). The country’s economy should grow at around 5% next year because, even if the new government has its problems, the private sector is strong enough to handle further expansion, Minister of Finance and Forum Chairman Dr. Chalongphob Sussangkarn said. Top Executives Networking Forum 2007: Listing…Benefits for all is the fifth event of its kind. Participating companies have a total market capitalization of about THB 1.9 trillion (approx. USD 55.88 billion), or about 29% of the SET’s total market capitalization, or around 23% of Thailand’s GDP, SET Chairman Mr. Pakorn Malakul Na Ayudhya stated. This year’s event provided an opportunity for executives from SET and capital market agencies to hear the views of listed firms which have contributed to organizational and capital market development. The senior executives speaking had experience in using the capital market for business expansion and improving company standards and image, SET President Ms. Patareeya Benjapolchai said. The tax privileges which accompany listing on SET allow listed companies to pay lower tax rates than other firms. In addition, listing also motivates companies to perform at international standard, by requiring better accounting systems and reduced personal warrantees. This, in turn, strengthens firms in their negotiations with financial institutions. Currently, Saha Pathanapibul has 18 subsidiary units listed on SET, Saha Pathanapibul PCL (SPC) Chairman Mr. Boonsithi Chokwatana added. PTT PCL (PTT) benefited from listing on SET through higher market capitalization. As the company’s market capitalization goes up, the public benefits. PTT was able to use funds raised on the capital market to help pay back loans and so strengthen the financial status of the company and its subsidiaries, PTT President Mr. Prasert Bunsumpun explained. Bangkok Bank PCL (BBL) was one of the first five companies to list on the Exchange and has raised funds for business expansion. BBL has also multiplied its market capitalization three times, which helped the bank survive the 1997 financial crisis, BBL President Mr. Chartsiri Sophonpanich added. Forum participants offered SET a number of suggestions, including requiring more notice of announcements about rules and regulations, obtaining future tax benefits and strengthening listed firms. 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