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The new chair of the Federation of Thai Capital Market Organization (FeTCO) Paiboon Nalinthrangkurn revealed his vision of molding all the associations in the Thai capital market to work as one to be a major driver of growth for the Thai capital market and economy. He also aims to increase FeTCO’s role to be well-accepted as a significant organization in Thailand’s economic sector.
FeTCO’s Board of Directors appointed Mr. Paiboon, Chairman of Securities Analysts Association, to be its new chairman, replacing Mr. Anon Sirisaengtaksin, whose term has ended. Mr. Paiboon’s term will be for two years, starting August 30, 2010 – August 29, 2010.
“FeTCO will continue to be a main organization that supports the Thai capital market and economy alongside similar organizations in the economic sector, e.g., The Federation of Thai Industries, the Thai Chamber of Commerce. FeTCO will become a juristic person, and it will become more pro-active, starting with joining the Joint Public-Private Committee to solve economic problems using the capital market mechanism. In addition, we will help improve corporate governance and the social responsibilities of Thai businesses,” said Mr. Paiboon.
“FeTCO’s plan to change to a juristic person will take not less than 3-5 years. Therefore, its proactive plan must be carried out at the same time. FeTCO has continually worked with the public sector to support the Thai capital market, including the Capital Market Master Plan, No.2 (2006-2010), the white book proposing the recommendations about the capital market to the government, and proposing important measures to Ministers and executives regulating the capital market, encouraging the development of the Thai capital market to become a key part of the national agenda. These efforts resulted in the establishment of the Thai Capital Market Development Committee and the Thai Capital Market Development Plan,” noted former FeTCO Chairman Anon.
“The Stock Exchange of Thailand (SET) and all FeTCO members are pleased to support FeTCO to realize the Thai capital market’s potential and competitiveness and take full advantage of the changes that will happen. Mr. Paiboon’s assuming the position of FeTCO chairman is a significant time for the Thai capital market, as the Thai capital market must expand its role in the region. Mr. Paiboon’s long experience in the securities business will certainly prove valuable in encouraging capital market intermediaries and other organizations to grow together,” said SET President Charamporn Jotikasathira.
FeTCO’s members also appointed three new directors to replace those who terms have ended. The new directors are Association of Investment Management Companies (AIMC) Deputy Chairman Rapee Sucharitakul, Association of Securities Companies (ASCO) Executive Director Yannasak Manomaipibul, and Thai Investor Association Chairman Montri Nipitvittaya. Their terms will run from August 30, 2010 to August 29, 2012.
FeTCO was established in 2004 by the joining of six major organizations in the capital market, i.e., the Association of Securities Companies (ASCO), Thai Listed Companies Association, Association of Investment Management Companies (AIMC), Securities Analysts Association (SAA), Thai Investors Association, and SET. FeTCO’s board of directors consists of 11 persons, who include, ex officio, the chairmen of the five associations, who will serve as chairman and four vice chairmen. The other six directors will be a representative from each association, including SET President to serve as director and secretary. Terms are for two years, and directors can serve for up to two consecutive terms.
