Stock Exchange Of Thailand Board Approves 45 Strategic Business Plans For 2004

Stock Exchange of Thailand (SET) President, Mr. Kittiratt Na-Ranong, revealed the SET Board of Directors has approved 45 aggressive business plans for 2004 during its meeting on October 27, 2003. The plans focused on expanding quality investors' base, educating investors, increasing the quality and quantity of listed companies, and training personnel associated with the capital markets, which include employees of listed companies, securities firms, and investors. The plans also centered on developing the SET's information base, improving the computer system used in carrying out share transactions, work on the post-trade system, and increasing the degree of transparency and good governance among listed companies to meet international standards.

"The SET has set a goal of increasing its market capitalization to THB4.3 trillion and having an average daily turnover of THB15 billion. It also hopes to boost the number of initial public offerings to 52 companies next year, 32 of which will be with the SET while 20 will be with the Market for Alternative Investment (MAI). The SET expects to expand the number of investors by an additional 310,000."

These goals will be realized through the 45 aggressive business plans mapped out at today's meeting. Of the plans, 24 are a continuation of 2003 business plans aimed at developing and enhancing the quality and quantity of listed securities, while the remainder are new strategic plans.

Mr. Kittiratt said, "the activities which will be held again next year include the Money Expo and the SET in the City, on November 20-23, 2003 at the Queen Sirikit National Convention Center.

Moreover, the SET will hold eight roadshows upcountry and three international roadshows to increase its investor base in 2004. It will coordinate with various agencies to expand the number of quality listed companies, particularly for the country's strategic industries."

The SET board has approved the change of the timeframe for tender offers in the case of mergers between listed companies and voluntary share delisting. The minimum duration for share offerings has been lowered from 45 business days to 25 business days.

"Initially, the delisting of a listed company in a merger requires 45 business days or about two months. Reducing time needed in this case would benefit the listed companies and their restructuring, as well as their shareholders," Mr. Kittiratt said.