Thai exchange restructures to achieve its three-year strategic plan
The Stock Exchange of Thailand (SET)’s Board agreed today (September 27) to an organizational restructure to equip it to meet the Exchange’s mission, its strategic plan for 2007 – 2009, and the Thai Capital Market Master Plan. The reorganization will yield more flexible and efficient administration and decision-making.
“Essentially there will be one additional division, Corporate Affairs & Corporate Governance, with corporate governance (CG) promotion as its central plank. This division will promote CG and strengthen trust in the capital market. Another change is in the Research and Information Division, which will specialize in research and analysis. In regard to our educational mission — Thailand Securities Institute (TSI) will reach a wider market through outreach activities. The Corporate Operations Division will collaborate with related units and organizations to implement SET policy. The new organizational structure will operate from October 1, 2006,” Ms. Patareeya said. The Board approved setting up a new division to boost SET’s role in promoting CG in the industry and to emphasize CG’s preventative function. Though there have been only a few offending instances, these damage the image of the whole Thai capital market, Ms. Patareeya declared. The new division will be headed by Mr. Suthichai Chitvanich, who has extensive experience in market regulation and listed company supervision. He will also be responsible for investor relations. “Successful promotion of, and compliance with, CG should prevent problems and inappropriate acts, thus lessening supervisory work and strengthening confidence in listed companies and the Thai market,” Ms. Patareeya said. Mr. Suthichai will oversee the compliance, internal audit & risk management, and corporate secretarial departments. He will also act as a secretary to the SET Board of Governors. The Research and Information Division will be producing and using research to support SET’s planning and strategy, and acting as an information center for the Exchange and its subsidiaries. Comprehensive knowledge management is essential for the bourse to become an integrated market. This division will network with foreign parallel agencies to increase regional cooperation. Senior Vice-President Dr. Sethaput Suthiwart-narueput will continue to head the division which includes the Policies & Strategies, International Affairs, and Information Services Departments. Corporate Operations Division will have a broader role, and will be entrusted to ensure the achievement of SET’s strategic direction and the Thai Capital Market Master Plan in collaboration with relevant stakeholders. Currently that division covers the following departments: Human Resources, Building Management, Accounting & Finance, Investment Management, Planning & Budgeting, and Procurement. The FeTCO (Federation of Capital Market Organizations) Coordinating Department (currently with the Capital Market Opportunity Center) and Corporate Communications Department (currently with the Research and Information Division) will now join the division. SET Executive Vice-President Ms. Nongram Wongwanich will head up this division. Capital Market Education Division will now include the following departments: Content Development, Education Dissemination, Media & Publications, and Library and University Projects. SET Executive Vice-President Mr. Punsak Vejanurug continues to oversee this division. “SET has formulated its three-year strategic plan to achieve the status of an integrated market, offering a wide variety of quality products, and become one of the region’s major markets. To do this in three years, we are not only constructing strategic alliances with local and international partners, but also undertaking this major reorganization, as indicated today,” Ms. Patareeya concluded. For more information, please contact the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kulvida Jintakawong Tel: 0-2229-2037 /