Bangkok--31 May--SET
The Stock Exchange of Thailand (SET) and National Telecommunications Commission (NTC) have signed a memorandum of understanding to encourage listed firms and others to see the growth opportunities of the Thai communications industry as well as to raise funds through the capital market.
SET President Patareeya Benjapolchai revealed that SET ad NTC will provide knowledge support in organizational management, corporate governance, and risk management to both listed companies and those with potential for listing. Also, SET and NTC will help educate telecommunication companies as to how businesses can use the capital market as a source of funds for business enhancement and showcase the competence of Thai telecom businesses to public.
“The existing 500-plus listed companies which have all used the capital market to efficiently raise funds for their expansion — and new entrants to the telecommunications industry can do so as well. Such fund-raising exercises will offer more investment opportunities for investors as well,” said Ms. Patareeya.
NTC Chairman Professor Prasit Prapinmongkolkarn said that a NTC strategic goal was to develop the telecommunication industry to prepare for ASEAN telecommunication liberalization in 2014 and prepare for new development in the industry. To support the liberalization and fair competition that will benefit consumers, NTC has encouraged new private enterprises to enter the industry.
Thailand’s telecommunication industry not only is a high-growth business, it is crucial for the country's development, accounting for 10% of Thailand's GDP. In addition, SET’s Information & Communication Technology sector has consistently proven to be attractive to investors, both local and international, as its market capitalization of THB 440.00 billion (USD 13.52 billion), or 7.24% of total SET total market capitalization, means that it is the third largest sector in terms of market capitalization.
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