Bangkok--1 Apr--SET
The Stock Exchange of Thailand (SET) and the Thai Investors Association (TIA) are helping investors become more aware of their rights, especially those regarding annual general meetings (AGMs, which are usually held during each March-April, e.g. this April, over 400 listed firms will hold AGMs.)
SET worked with TIA by providing information for its operation, while the Capital Market Development Fund (CMDF), a body recently formed as part of SET’s restructuring to strengthen various parties in the capital market) supported over THB4 million in promoting shareholders’ rights and support the AGMs conduct of listed firms, including continually supporting knowledge about new financial instruments to investors. SET Chairman Pakorn Malakul Na Ayudhya revealed after the meeting with TIA today (March 31, 2009).
“SET believes that building retail investors’ strength is crucial in developing the Thai capital market. Enhancing investor knowledge will enable them to more effectively participate in AGMs and defend their interests. Shareholders will be able to directly question company executives in the AGMs, and companies can present their operation plans and policies directly to shareholders. This will also support the corporate governance of the Thai capital market,” said Mr. Pakorn.
“TIA will continue to emphasize its role in representing shareholders to protect their interests and in enhancing investors’ knowledge. We are thankful for the consistent cooperation from the Securities and Exchange Commission (SEC) and SET”, said TIA Sansern Nilrat, who just took office on March 29, 2009.
“During the current economic crisis, shareholders should be prepared for their AGMs and pay attention to the questions and answers on important topics, e.g., changing of operation strategies and business plans, plans to increase company’s liquidity. Additionally, shareholders should also pay attention to transactions in the financial statements that affected operating performance. Shareholders can also review the auditor’s report and notes to financial statements,” said Mr. Sansern.
Today, the Thai bourse and TIA resolved to work together to stimulate shareholders realize the importance of protecting their investments by participating in TIA seminars, e.g., by being a “Rights protection volunteer.” SET also supported TIA in disseminating understanding of shareholders’ rights via numerous channels, including newspapers, the TV show Money Channel, or websites. The meeting also resolved to emphasize cooperating with companies in acquiring and disseminating information relating to specific cases, if any, on lawsuits brought by shareholders against the listed firm.
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