Bangkok--6 Mar--SET Under a memorandum of understanding (MOU) signed on March 4, 2008, Securities and Exchange Commission (SEC), The Stock Exchange of Thailand (SET) and Government Pension Fund (GPF) are funding Thailand’s first Ph.D. program in corporate governance development, to be taught at Chandrakasem Rajabhat University (CRU). The course will enhance the educational quality of personnel at all four agencies and promote the sustainable practice of corporate governance (CG) in the capital market. CG is a pillar of the capital market. As investors do not personally know the business operators who use a company’s funds, they are entitled to receive publicly-disclosed information for their investment decision-making and assessment of a firm’s managerial ethics. To bolster investor confidence, the capital market must adhere strictly to CG principles. This doctoral program will inculcate in staff a deep understanding of CG and so promote the concept and its practice throughout the local capital market, SEC Secretary-General Thirachai Phuvanatnaranubala said. “The promotion of CG in the Thai capital is a core responsibility of SEC, and the ongoing collaboration of the four main capital market agencies will provide education, establish working standards, promote research and develop personnel and public understanding - all of which yield sustainable CG in the local market,” Mr. Thirachai added. SET constantly promotes and encourages all related capital market organizations to appreciate and implement CG principles so that the market can secure broad acceptance and trust. This Ph.D. program will improve both the capital market’s and the country’s CG, SET President Patareeya Benjapolchai said. “Today’s collaboration begins an era of in-depth and academically robust research on corporate governance and the development of a CG knowledge base in our society,” Ms. Patareeya added. To consolidate CG in the local capital market, SET established the Corporate Governance Center, encouraged all executive members to attend the Thai Institute of Directors (Thai IOD)’s courses, offered CG prizes at the annual SET Awards ceremony and, in collaboration with the Professor Sangvian Indaravijaya Foundation, introduced the undergraduate program, CG and Added Value, at the Faculty of Commerce and Accountancy, Thammasat University in 2007. In addition, the Exchange moves pushing for similar courses at other universities in the country. As an institutional investor, GPF realizes the social and environmental importance of CG in business management and strongly promotes related education and implementation. As a participant in this project, the Fund is delighted to contribute practically to learning which will provide long-term benefit to the nation, GPF Secretary-General Visit Tantisunthorn said. It is widely appreciated that good governance is crucial for the country’s development, particularly in the area of transparency, because it enhances both cost-effectiveness and productivity. CRU is keen to work with other agencies to fund education in this field and have students learn from leading academics from across the country. Furthermore, the university will establish a world-standard “Governance” library as a research center for doctoral students, CRU President Associate Professor Manop Brahmachote said. The Ph.D. program in corporate governance development at CRU studies CG as conceived and applied in politics, the civil service, the business sector and society. In this important field, it will develop human resources, academic excellence, ethical practice and understanding to the benefit of society and local communities. The curriculum will equip students to play a role in managing and creating systematic, preventative strategies for the country’s governance. For more information on the program, please call 086-332-3573, 081-453-6888, 0-2513-6968 or visit www.chandra.ac.th and for information on CG in the capital market, visit www.cgthailand.org. 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