Bangkok--23 Feb--SET
The Stock Exchange of Thailand (SET)’s New Listings and Development Committee 2009, comprised of highly-qualified personnel and top executives from leading organizations, held a meeting today (February 20, 2009) to discuss about increasing the number of listed firms. The Committee has given a broad range of suggestions, disclosed Pakorn Malakul Na Ayudhya, SET Chairman and Chairman of the New Listings and Development Committee.
“Although the current worldwide economic crisis hinders the attractiveness of raising funds on exchanges, SET realizes that many companies still can benefit from the capital market. The Thai capital market has continued to work on this issue, and recently held a seminar for provincial governors nationwide aiming at asking for support from the governors in identifying potential companies to SET, so that SET could approach the companies for listing. Also, the New Listings and Development Committee suggested that SET cooperate with the Joint Standing Committee on Commerce, Industry and Banking (Thailand) (JSCCIB) to follow-up on the identification of potential firms, by asking provincial governors to promote the issue in provincial development plans meeting as appropriate,” added Mr. Pakorn.
“SET has reported to the Committee on its strategic plans in increasing new listings, together with the plan to increase the value and reduce obstacles of listed companies, which are believed that there will be useful progress for listed companies,” said Mr. Pakorn.
In addition, the Committee offered other useful suggestions, including that there should be clear advantages to listing, such as lower taxes or superior business linkages. The Committee also recommended that the government encourage firms granted concessions or licenses to list. If implemented, this would raise the number of firms with large market capitalization and increase market liquidity.
The New Listings and Development Committee’s responsibilities include identifying and inviting potential companies, both domestic and foreign, to raise funds on SET or the Market for Alternative Investment (mai); helping newly-listed firms benefit more from the capital market, and amending rules that hinder the listing processes or maintaining listing status.
The New Listings and Development Committee is comprised of Mr. Pakorn Malakul Na Ayudhya as a Chairman with 13 members; Dr. Kongkiat Opaswongkarn, Mr. Chalee Chantanayingyong, Dr. Sunthorn Arunanondchai, Mr. Pramon Sutivong, Mr. Santi Vilassakdanont, Dr.Prasert Tapaneeyangkul, Dr. Areepong Bhoochaoom, Dr. Somchai Sujjpongse, Mr. Satit Rungkasiri, Mrs. Atchaka Brimble, Mrs. Kobkarn Wattanavrangkul, Mrs. Patareeya Benjapolchai, and Mr. Vichate Tantiwanich as the member and secretary, having Mr. Satit Chanjavanakul as an advisor.
For more information, please contact Public Relations Unit, the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kanokwan Khemmalai Tel: 0-2229-2048 / Panitee Chatpolarak Tel: 0-2229-2792