After the signing today (February 18, 2003), the SET President, Mr. Kittiratt Na Ranong, said this MOU between these five organizations will help develop and support Thai businesses as a whole by contributing to the competitiveness of industrial operators, while, at the same time, enhancing the development of the Thai capital markets. The SET will increase the opportunities for Federation's members that are qualified to list on the SET or the MAI, while dispensing advice and services on long-term sources of capital. Federation members will also receive special privileges to participate in activities offered by the either the SET, the MAI, or the Association of Securities Companies, such as training sessions and seminars aimed at providing insights into new management techniques. These will also help develop and support good corporate governance practices among Federation members.
"This cooperation will help potential Thai businesses attain a higher level through access to long-term capital, which would provide a strong financial structure. It will also support the work of these five individual organizations, through the exchange of information and jointly staged activities. It will also concretely enhance the capabilities of the Thai capital markets themselves as supporting qualified Thai businesses to list on either the SET or the MAI and will provide a wider range of products for investors and thus increase the attractiveness of these bourses," Mr. Kittiratt said.
The Chairman of the Federation of Thai Industries, Mr. Praphad Phodhivorakhun said "This MOU is a fundamental step towards greater cooperation between the five organizations, which together recognize the importance of supporting and developing Thai businesses. The Federation is ready to lend close support to the SET, the MAI, the Securities Company Association, and the Investment Banking Club to develop and support industrial operators who are members of the Federation. This would enable them to grow and become a driving force to push forward the country's economic growth.
The Federation will help select qualified businesses to list on either the SET or the MAI. It will lend a hand also in staging activities like the various roadshows, such as those scheduled for Petcha Buri, Nakorn Ratchasima, Chonburi, Songkla, and Lumphoon provinces this year. This is to ensure that Federation members, both in Bangkok and in the provinces, understand the role of long-term capital through the capital markets in strengthening and enhancing their businesses."
The Association of Securities Companies (ASCO) Chairman, Mr. Suthep Peetakanond, in speaking about the MOU, said: "The Association is ready to support the activities to be staged by the Federation, the SET, the MAI, and the Investment Banking Club, to benefit members of the 4 organisations. The Association acts as a center for securities companies, offering securities and investment banking services. Its policies are aimed at supporting the development of its members."
