SET Breaks New Listing Records with Six Companies Joining in a Roll

The Stock Exchange of Thailand has announced that there will be six new listings in December. It has recently welcomed Charn Issara Development, Trinity Wattana, and Ratchthani Leasing onto the SET, plus Siam Future Development on the MAI. Companies getting listed by the end of this year will have their corporate income tax reduced to 25% and 20% for listing on these two markets respectively starting from 2003 accounting periods.

The Chairman of the Capital Market Opportunity Center (CMOC), Ms. Sopawadee Lertmanaschai, announced that in this final month there are more companies interested in listing on the SET and the MAI than in any other month this year. Recently the SET Board of Governors approved the listing of Charn Issara Development Public Co., Ltd., Trinity Wattana Public Co., Ltd., Ratchthani Leasing Public Co., Ltd. on the SET, plus Siam Future Development Public Co., Ltd on the MAI.

"Until now, September and November were the months with the highest number of three new listings. However, if Power Line, which was approved last month but expects to commence trading on December 12, is included, there will be a total of six new listings this December - the highest monthly number of new listing this year (if nothing unpredictable happens). Between December 16-19 Charn Issara, Siam Future Development, Trinity Wattana, and Ratchthani Leasing are expected to list, while President Bakery is expected to list on December 25."

"This cluster of new listings has been driven by the tax benefits that listed companies are able to obtain. From the 30% normal rate of corporate income tax, SET-listed companies will pay 25%, while MAI-listed companies will pay only 20%. If the companies receive their listing this year, they will receive this tax reduction starting from the 2003 accounting period. Early listing thus helps reduce tax companies' expenses," Ms. Sopawadee said.

The CMOC Chairman also noted that: "All the companies mentioned are interesting in terms of their business operations and growth trends. Investors will also have a greater range of alternatives for making investments, in both the primary and secondary markets, according to their interests. This is, therefore, a golden opportunity for people who want to grow their savings and expect higher returns than from bank deposits. This is definitely a not-to-be-missed opportunity."

For more information about the above mentioned companies, please browse through the SEC website,www.sec.or.th