SET President Mr. Kittiratt Na-Ranong announced that the SET Board of Governors (BoG) approved restructuring its market opportunity center so that it can be a business development arm for the SET, the mai, the BEX, and TFEX. The restructuring is to encourage greater collaboration between the markets to boost both supply and demand in the medium- to long-term. The strategy will be to work closely with the Federation of Thai Capital Market Organizations (FeTCO) and various industrial associations, making the Thai exchange a strong and full-fledged market and reflecting Thailand’s economy more clearly.
The change will also involve a more comprehensive market education plan. The Capital Market Education Division will work with the Ministry of Education’s Basic Education Commission Office to continually encourage financial literacy.
“This move shows that the SET has taken a major step to become an integrated market. From now on, we will work extensively with other organizations in the capital market to develop every product and market. Furthermore, we will develop the capital market’s structure and improve the Thai people’s understanding of the market and personal finance management nationwide, so as to develop a sustainable Thai capital market,” Mr. Kittiratt said.
The appointments by the SET BoG that will become effective in January 2006 are:
- Ms. Sopawadee Lertmanaschai, currently the SET Executive Vice President, will become the Chairman of the Capital Market Opportunity Center
- Mr. Vichate Tantiwanich, currently mai President, will become the Chairman of the mai Advisory Committee
- Mr. Punsak Vejanurug, currently the SET’s Executive Vice President overseeing the Capital Market Education Division, will become the Chairman of Capital Market Education
- Ms. Jiraporn Koosuwan, currently the SET’s Senior Vice President overseeing the Thailand Securities Institute (TSI), will become the Executive Director of the TSI.
The CMOC will now be comprised of an Issuer Marketing Department, the mai, BEX, TFEX, CG Center and the Investor Market Department. Family Know-How Co., Ltd. (FKH) will act as a liaison and promotion channel for market education. The SET’s President’s Office will coordinate with related units within the SET group. In addition, a unit serving as FeTCO’s secretariat will be liaisoning with other organizations in the various markets so that the SET’s and FeTCO’s mutual goals to develop the Thai capital market can be achieved.