Thai Bourse Prepares Companies To Adopt ASEAN CG Scorecard

The Stock Exchange of Thailand (SET) announces the revision of its corporate governance (CG) principles to be in line with ASEAN CG Scorecard and prepare Thai listed companies to be recognized in CG when the ASEAN Economic Community (AEC) starts in 2015.
 
The bourse will train firms in CG, using CG Forum seminars and workshops throughout 2013, underlining its long-term capital market development plan to sustainably develop listed companies and continuously improve the capabilities of all capital market participants
 
SET President Charamporn Jotikasthira said that the SET Board of Governors approved to revise the good CG principles to be up-to-date and in line with the ASEAN CG Scorecard. For the launch of the ASEAN Economic Community (AEC) in 2015, the scorecard will be used to be as the core criterion to evaluate and rank the CG of ASEAN listed companies. So, SET would use the revised CG principles as a guideline for firms to practice from 2014 onwards.
 
“SET has continuously encouraged firms to realize the importance of good CG and authorized the Thai Institute of Directors to survey company compliance with CG principles since 2001 until now in order to boost good CG practices. Surveys showed that listed companies have continuously developed their CG, with CG scores reaching 77 percent in 2012, up from 50 percent in 2001. Meanwhile, Thailand moved up to become the third highest-scorer in Asia in the CG Watch conducted by the Asian Corporate Governance Association and CLSA Asian-Pacific Markets, up from fourth in 2010 and eighth in 2007.
 
To encourage good CG, SET plans to hold CG Forums quarterly, including today’s seminar, “What are the new good CG principles for listed companies in 2013?” which could attract top executives and CG industry people to participate the seminar.