The Finance Minister, Dr. Somkid Jatusripitak, presided over and gave a special address on the Thai market entitled: “The Thai Capital Market: 4 Years to Repair, Another 4 Years to Build” for the SET’s 3rd all-inclusive investment fair, ‘SET in the City 2004’. The fair is being co-hosted by The Stock Exchange of Thailand (SET) and Money & Banking Magazine utilizing the theme “Shareholders: the Power of Ownership”. The fair is taking place on Nov. 11-14, 2004, at the Queen Sirikit National Convention Center.
Dr. Somkid said that the 3rd SET in the City has developed magnificently and had become vastly improved when compared to the first year’s fair. He also noted that the SET has grown tremendously since it was first established in 1975. The SET is going to celebrate its 30th Anniversary in April 2005. At the time the SET started with only 8 listed companies and 30 securities companies. Total market capitalization then was just about THB5,000 mln. (approx. USD 125.0 mln.), with about THB3.3 mln. (approx. USD 80,488) in daily trading turnover.
Today is remarkably different. The total market capitalization is about THB 4 trillion (approx. USD 100 bln.), with THB 20,000 mln. (approx. USD 500 mln.) in daily trading turnover. Nevertheless, through this 30-year period, the SET has gone through so hard times, especially during the period of the economic crisis when the SET Index slipped 200 points. Foreign investors also diverted from the Thai market during this bleak period.
However during the 4-year administration of the present government, the Thai capital market has been recuperating. A number of overseas roadshows and the more recent locally held ‘Thailand Focus’ were part of our attempts to encourage the return of overseas capital. It is estimated that total market capitalization in the next 4 years will reach THB 6 trillion,(approx. USD 150 bln.) or 80% of GDP.
The 3rd ‘SET in the City’ is one piece of evidence that demonstrates the potential of the Thai capital market. It shows the people what finance and saving are about. Most importantly, it shows that being a shareholder means having the power of being a company’s owner-- with the right to examine the company’s operations. The holding of this event is thus a promising sign for the Thai capital market to continue on its growth path.
The SET President, Mr. Kittiratt Na-Ranong, disclosed that there were more than 70,000 visitors on the first day of ‘SET in the City 2004’. They are retail investors and students as well as the general public.
The SET Chairman, Mr.Vijit Supinit, said that the total number of visitors throughout the 4 day event should reach at least 300,000, as there are numerous interesting activities especially those with educational purposes. The institutional investors, including newly-established asset management companies, are also actively taking part in this event.
Interesting activities are being offered by 23 securities firms in the Plenary Hall and 67 listed companies in the Zone C area. Also, 10 investment management firms and nine capital market organizations are also present throughout the fair and are drawing in large crowds. There are a total of 109 participating organizations.
Visitors have been showing their satisfaction with the event. People, especially those who are new to the market, think that the various activities are interesting, as participating organizations are actively providing useful information in enjoyable ways.
This all-inclusive event does not only provide useful information, the fair visitors will also have a chance to receive prizes and giveaways by participating in various activities.
