'The scripless system is one in which the information of share ownership is stored by the TSD instead shares certificates being issued. As evidence of ownership, the TSD will instead issue a Statement of Share Ownership to the shareholders. After this, they will not have to worry about keeping or losing the share certificates anymore.'
'This new system also helps facilitate trading by investors as people who subscribe to the rights issues and to IPOs will be able to commence trading shares earlier as these shares will all be recorded in the system and they don't have to wait for share certificates to be issued, which can take up to 30 days," Ms Nongram said.
Currently forty-seven percent of securities listed on the SET have already entered the scripless system. The TSD has thus been working on developing the system in anticipation of the increasing number of shares under the scripless system in the future.
Ms Nongram went on to say: "From 2002 onward, shareholders can deposit their securities with the TSD via their accounts with listed companies that join the scripless system instead of depositing them with the securities companies themselves. The new system will greatly assist shareholders, especially those who do not have trading accounts with brokers. Furthermore, whenever a listed company becomes a TSD member, its shareholders will be able to access the scripless system immediately."
'The TSD would like to encourage all shareholders to use the scripless system. It will not only ensure that full benefits are obtained from the listed companies but greater efficiency will not incur any extra costs, plus it overcomes the problem of share certificates scratched, lost, or counterfeited. Shareholders will be regularly notified of the securities holding status. For those with active accounts, this will be done on a monthly basis, whereas for those with non-active accounts, a report will be sent every 6 months or the information can be accessed through the TSD Call Center Tel. 0 2359-1234, or email address: contact.tsd@set.or.th'
'Shareholders who wish to use the scripless system, can follow either of these options:
- For new shareholders, just state your preference in the subscription form to have your securities deposited in the scripless system.
- For existing shareholders who have already received their share certificates, just contact the TSD to deposit your certificates.
In regard to the 100% scripless system, the TSD has already held a seminar to gather comments and encourage discussion about the process from all interested groups; listed companies, securities companies, and other participants in the TSD. Informative seminars for educating the public, plus educational material disseminated through various media, will also be undertaken.
If you wish to acquire more information about the scripless system, contact TSD Call Center Tel. 0 2359-1234 or email to: contact.tsd@set.or.th
The Thailand Securities Depository Co Ltd (TSD) is a SET subsidiary. It started operation on 2 January 1995 to provide after-trade services e.g. securities depository, clearing and settlement service, share registrar service, as well as other related services. It employs the latest information technology systems and links with business strategic networks to ensure the highest satisfaction and reliability to our customers.
