Thailand Financial News

Thai officials revealed that ASEAN stock exchanges meeting in Singapore will work together to enhance the region’s global appeal.  Officials from ASEAN exchanges informed investors of their collaboration to develop a regional capital market developing joint products and promotions to enhance the region’s attractiveness for investment destination and global competitiveness.

Top executives from the Jakarta, Malaysia, Philippines, Singapore, Hanoi and Thai exchanges joined the ‘ASEAN and Vietnam exchanges’ panel at the CLSA Corporate Access Forum in Singapore on May 23. The panel announced an improvement in governance over the decade since the region’s economic crisis. Risk management, listed companies’ corporate governance (CG) and information disclosure remain important issues. Improvements have been made in product and infrastructure development, and investor education. The Stock Exchange of Thailand (SET)’s officials participated in the panel and held one-on-one meetings with fund managers, including with Aberdeen Asset Management and JF Asset Management. “SET informed institutions of developments in the Thai market, particularly in corporate governance. CG continues to be supported, as evidenced by the Exchange’s 15 CG principles for listed companies, its CG Center, the recent integration of the Organization for Economic Cooperation Development (OECD)’s CG guidelines into the 15 principles, and Thailand’s high score in the World Bank’s Report on the Observance of Standards and Codes. SET also told investors of opportunities provided by new products, e.g. ETFs and SET50 Index Options,” SET President Ms. Patareeya  Benjapolchai said. In the one-on-one meetings, foreign investors noted that their major concerns are the liquidity of the securities market and direct market access for institutions. Institutional investors’ still see opportunities in the Thai market, but are awaiting a more stable political environment and more cogent economic policies. “Fundamentally, the Thai market in still interesting, but there needs to be political stability and elections. We believe that, as these come to pass, there will be increased foreign investment” Ms. Patareeya stated. The five Thai listed companies participating in the forum–Central Pattana PCL, BEC World PCL, Kiatnakin Bank PCL, Major Cineplex Group PCL and Bumrungrad Hospital PCL—held about 30-40 meetings with fund managers. After CLSA Corporate Access Forum in Singapore, SET and 12 listed companies will join “Thailand Corporate Road Show 2007” touring Singapore, London and New York during May 27 – June 3, 2007. The event is hosted by the Exchange in collaboration with Credit Suisse Securities (Thailand). For more information, please contact the Corporate Communications Dept.:

Ladawan Kantawong Tel: 0-2229-2036 / Sarinluck Jitkawong Tel: 0-2229-2037 /