President of the SET, Mr. Kittiratt Na-Ranong, disclosed that the SET has signed an MoU with the KLSE represented by Dato Mohammed Azlan Hashim, Executive Director of the KLSE, with H.E. Pol.Lt.Col. Dr. Thaksin Shinawatra, Thai Prime Minister, and Dr. Mahathir Mohammed, Malaysian Prime Minister, presiding over the event at Langawi Island, Malaysia.
The SET President said that: "Malaysia and Thailand are close long-time neighbors, as are the KLSE and the SET. We both cooperate closely. Signing the MoU is aimed at reaffirming our relationship and developing our competitive potential and operational performance. There will be an exchange of information, staff, training and other kinds of cooperation that will enhance the competitiveness of both Exchanges."
"In the face of an ever-changing environment in the securities industry and the dynamism of the world markets, signing an MoU is a big step toward enhancing the performance and competitiveness of the exchanges hence bringing long-term mutual benefits to both of us."
"This cooperation with the KLSE will not only strengthen the relationship but also be a great opportunity for the promotion of collaboration to enhance the competitiveness of Asian Exchanges in the future," Mr. Kittiratt concluded.
Currently the KLSE has approximately 550,000 million Ringgit worth of market capitalization or about 6.38 trillion baht, with a total of 884 listed companies. There are 284 member companies comprising of 40 voting and 244 non-voting members.
This is the 12th MoU the SET has signed with other exchanges. The previous eleven exchanges include:
- New York Stock Exchange
- Lima Stock Exchange
- Philadelphia Stock Exchange
- Luxemburg Stock Exchange
- Pacific Stock Exchange
- Australian Stock Exchange
- Tokyo Stock Exchange
- Ho Chi Minh Stock Exchange
- Taiwan Stock Exchange
- Hong Kong Stock Exchange
- Chittagong Stock Exchange
