“Under its immediate plan, FeTCO will receive donations from its various members, while concurrently acting as a collection center for donated materials (e.g.,: food, clothes, blankets) and money from other sources as well. A portion of the donations have already been sent, and on Dec.30, Mr. Suthep, Chairman of FeTCO, will lead a group of FeTCO executives to tour and inspect the damages in Phuket and Phang-Nga personally, so as to assess what kinds of assistance are still required,” Dr. Somkid said.
The Listed Companies Organization will encourage the listed firms, especially those large-scale companies in the SET50 list, to join in the relief effort by donating money and supplies for the victims. Many companies have already offered their assistance without prompting. FeTCO will be a primary collection center, and invites all concerned parties to donate more to the special relief fund established by the Office of the Prime Minister. Today ASCO has held a meeting to discuss on how to appeal to people and organizations for more donations.
The donated money will be used for both immediate relief and tourism restoration efforts. Dr. Kongkiat Opaswongkarn has been appointed chairman of the working committee responsible for studying ways to improve tourism conditions. The committee will work closely with the Tourism Authority of Thailand.
According to the ASCO meeting resolution, ASCO will encourage its members to join in making substantial donations and expects the total donations to reach THB100 mln.
“For the capital market, the effects of the incident were limited. Hence, we believe that confidence in the market will be restored shortly,” Dr. Somkid said. ….../2 Mr. Suthep Peetakanont, Chairman of FeTCO, said: “FeTCO is ready to send relief donations and supplies to our fellow countrymen in the affected southern areas. We have already donated a considerable amount to charitable organizations and tomorrow we will go down there for a field trip survey, so that we’ll know what areas and efforts are still in need of our assistance.
Mr. Suthep continued, “The ‘From All Thai Hearts to the South’ project that FeTCO hosted in conjunction with the Thai Chamber of Commerce to help the three southern provinces faced with the unrest will be extended to an additional 6 provinces affected by the tsunami. A charity ’Walking Marathon’ will also be held on January 9, 2005, to raise relief supplies and moral support for our southern cousins.”
Dr. Kongkiat Opaswongkarn said: “The capital market was minimally affected by this incident since it is a rare natural disaster. We believe that the related responsible organizations will be able to find appropriate measures for dealing with the crisis.
“For short-term assistance, tomorrow the ASCO will discuss on how to help send any relief supplies. The medium- and long-term plans will take a little more time to materialize. The plans will include providing advice on rebuilding people’s lives and businesses and tourist attraction restoration. The Phuket Chamber of Commerce and other related organizations will also join the meeting to discuss about these issues and ways to proceed further.”
Mr. Adisorn Sermchaiwong, Chairman of ASCO disclosed that: “ASCO will ask for assistance from its members both for the immediate and rehabilitation phases of the relief effort. On the extent of the effects to investment and the economy, people can be assured that our local institutional investors view the effects of the disaster as being only marginal on the capital market.”
