Thailand’s Market for Alternative Investment (mai) celebrates its 12th anniversary in supporting and strengthening small and medium-sized companies with a combined fund-raising of over THB 16 billion (approx. USD 521 million) and market capitalization of THB 96 billion (USD 3.13 billion) since its founding, reinforcing its crucial role in the country’s capital market.
“There are 10 mai-listed firms have moved to trade in the main market, The Stock Exchange of Thailand (SET), meanwhile, most companies on mai show continued and sustained growth in terms of sales and profits. This can be seen in their performance in Q1/2011, when their net profits nearly doubled from a year earlier,” said mai President Chanitr Charnchainarong.“In the 12 years, mai has been a key fund-raising source. At the end of 2010, companies on mai posted total sales of THB 77 billion (USD 2.51 billion), an aggregate net profit of THB 5.5 billion (USD 179.1 million) and create more than 27,000 jobs. Its average dividend yields were 4.8 percent, while total assets of all mai-listed firms reached THB 92 billion baht, (USD 3.0 billion), proving the strength of Thailand’s small and medium-sized enterprises, which are gaining significant role in Thailand’s economy,” Chanitr said.
Apart from the impressive performance, companies on mai also improved their corporate governance to meet international standards. The year 2010 marked the first time that Lighting and Equipment PCL gained five stars from a survey of the Corporate Governance Report of Thai Listed Companies 2010. In 2007-2010, six companies made FORBES ASIA’s “200 Best Under a Billion” list: Business Online PCL, C.I.Group PCL, Qualitech PCL, Thai Nakarin Hospital PCL, Thai Nondestructive Testing PCL and Unimit Engineering PCL. “Asia Green Energy PCL is also the only company gaining Asia’s Best Companies 2011: Best Small-cap from Finance Asia magazine. Moreover, two firms received Best CEO Awards (mai) from the SET Awards in 2008 and 2010: Thai Nakarin Hospital PCL and Thai Plaspac PCL, respectively,” Chanitr said.
At its 12th anniversary celebrations, mai will express its gratefulness to those who founded and developed the market and played key roles in strengthening Thai companies’ ability, helping them reach international standards. These include mai foundering directors, SET Board of Governors, SET advisors and Finance Ministry executives. The event will also have a press conference on the establishment of the mai Listed Companies Association (maiA). This association will be a role model for small and medium-sized enterprises and promote fund-raising on mai.
mai was established under the Securities Exchange of Thailand Act to create new fund-raising opportunities for innovative businesses with high potential growth, which are small and medium-sized companies, as well as to provide a greater range of investment alternatives for Thai investors. It officially commenced operation on June 21, 1999.
Currently, there are 69 firms listed on mai with a total market capitalization of THB 77 billion (USD 2.51 billion). 2011 Daily average turnover hit a record at THB 630 million (USD 20.5 million), up 53 percent from 2010. The mai index was at 292.35 points on June 20, up 7 percent from end-2010 with a P/E ratio of 19.47 times and P/BV at 2.59 times. Of the ten firms moving to the SET, two firms will be component of the SET100 Index; these are Mill Con Steel Industries PCL and Siam Future Development PCL
