"This is the first time there's a listing transfer from the MAI to the SET since the MAI began trading on 17 September 2001. There's no effect on the MAI but demonstrating that the MAI-listed companies have been growing and advancing to the expansion of businesses, which is good to both the shareholders and the companies themselves," Ms. Sopawadee said.
Small- and Medium-sized Enterprises (SMEs) are an important target for the MAI, which would like to play a supporting role as both a low-cost funding source for SMEs as well as serve as a tool to help SMEs develop their businesses, either in terms of size, technology, sales promotion, and image. The MAI has therefore been cooperating with related organizations to actively perform these functions.
Ms. Sopawadee went on to say that: "The transfer of Traffic Corner and Daidomon will start from 2 January 2003. After these two stocks have been transferred to the SET, the MAI will adjust the base of MAI Index so as to reflect the weightings of the remaining companies. The (MAI) database will be made to conform when the trading statistics of these two companies are omitted on December 30 2002, as it will also be adjusted on 2 January 2003 when these two securities are no longer on the (MAI) market."
The closing prices of Traffic Corner and Daidomon on December 30 2002 will be used as the closing prices for the first trading day in 2003. In regard to tax privileges, these two companies will receive a 5% corporate income tax reduction from 30% to 25% when listing on the SET. The companies will begin paying this rate from the 2003 accounting period onwards, while listed companies on the MAI will receive 10% reductions, or paying only 20% corporate income tax.
