Thailand Securities Depository Co., Ltd (TSD), under The Stock Exchange of Thailand (SET) group, reveals that it has expanded its securities depository services by providing depository service in scripless form for an THB 80-billion, six-year savings bonds issued by Ministry of Finance, Thailand’s first scripless government bonds.
TSD has signed a memorandum of understanding (MOU) with the Finance Ministry, the Bank of Thailand (BOT), and four commercial banks today to service the government bonds in scripless form, to be sold on September 3-14, 2012 via four commercial banks.
“TSD is very pleased to support depository service for the scripless savings bonds. Investors will receive bond books, rather than paper certification, facilitating their safekeeping because there will be no paper certificates that might become damaged, get lost, or be counterfeited. Under the scripless form, investors will automatically receive interest payments and repayments of principal via their banking accounts when the bonds mature,” said Bordin Unakul, SET executive vice president.
“In addition, the service will reduce costs and procedures of information flows and document management with related working units, and help take care of environment through reduced usage of paper. SET is confident that this scripless depository service will meet the demands of and match the right financial opportunities for investors and related market participants,” Bordin added.
Those interested in the scripless savings bonds can contact Bangkok Bank, Kasikornbank, Krung Thai Bank, or Siam Commercial Bank.
Thailand Securities Depository Co., Ltd. (TSD), under The Stock Exchange of Thailand (SET) group, provides securities depository services using a secure and efficient scripless system, including withdrawal, transfers, pledging, and revocation. It also acts as a registrar for common and preferred stocks, including preparing and maintaining registry books that contain correct and complete information.
