President of the SET, Mr. Kittiratt Na-Ranong, announced today (1 April 2002) that the SET had invited organizations involved in debt restructuring and ready to support the development of the Thai Capital Market's to discuss the options for supporting the debt restructuring of listed companies.
"After the SET, in collaboration with Krung Thai Bank Plc and the GPF, launched the Thai Opportunity Fund (TOF) last February, part of the fund was invested in helping accelerate the debt restructuring process of listed companies as well as serve as a funding source for their business expansion. It aims at helping resolve these problems in line with the Capital Market Master Plan."
"Furthermore the SET has been seeking ways to resolve the debt restructuring problems and strengthen the health of the listed companies by holding talks and discussion with all financial institutions concerned. The SET asked for cooperation from these financial institutions to provide addition funds to listed companies in need, and we anticipate receiving cooperation from them. At the meantime, the TOF will also step in to support the equity funding of their customers," Mr. Kittiratt said.
In addition to this measure, the SET also supports the fundraising of the listed companies through the Capital Market, from which they can raise capital and use it for both debt restructuring and business expansion. Through this channel, they can present their public offering (PO) to the public quickly and conveniently. Moreover, the SET is always ready to help facilitate their fundraising activities to help achieve their targets.
"We believe that the efforts of the SET and the TOF, with the cooperation of the financial institutions, will help resolve the debt restructuring problems of the listed companies quickly and successfully, and that will finally strengthen the health of the Thai economy as the whole," Mr. Kittiratt concluded.
