"The meeting concluded that standards of good corporate governance, especially for those companies listed on the Stock Exchange, significantly affects the country's image overall. Therefore, developing and achieving the desired standard is dependent on cooperation from all related parties and needs to be addressed as part of the national agenda. We thus agreed to organize a national committee to handle the criteria for this standard and establish the plan for developing it, define the policy framework, and promote knowledge and understanding, plus follow-up its implementation into the future in an efficient manner. It was proposed that the committee have the Prime Minister or a designated Deputy Prime Minister act as the committee chairman. Representatives from the public sector, the supervisory bodies and related associations will join as committee members. The Securities and Exchange Commission (SEC) will provide the committee's secretary, and will draft an outline of the roles and work plans, to be proposed to the Cabinet next week." Dr. Somkid Jatusripitak said.
Moreover, the meeting also set out a schedule for a workshop on "Good Corporate Governance: You Supervise, We Oversee", to be organized by a committee chaired by Dr. Suvarn Valaisathien. "The workshop will be held on 14 March 2002 at the QSNCC (Queen Sirikit National Convention Center). All related organizations from the public sector are expected to participate in the event, such as the Ministry of Finance, Ministry of Commerce, Revenue Department, the SEC, the Institute of Certified Accountants and Auditors of Thailand, Listed Companies Association, Association of Securities Companies, Thai Institute of Directors Association (IOD), and the SET. They are anticipated to jointly propose they own ideas on the promotion of good corporate governance for listed companies, securities companies, and small- and medium-sized enterprises, general businesses, accountants, and other parties in the business sector. There will be an open forum for participants so as to reach a consensus on the direction for raising the standard of corporate governance and to further implement this plan." Dr. Suvarn Valaisathien added.
