Mrs. Puntip Surathin, Director-General, State Enterprise Policy Office (SEPO), said that, in order to promote a greater understanding about the capital market amongst executives of state enterprises so as to better prepare them for the fundraising and listing, SEPO, in conjunction with The Stock Exchange of Thailand (SET), will hold three seminars during June – July 2005. These seminars will be on June 15, June 21, and July 25, 2005.
“These 3 seminars will present the attendees with useful information for state enterprises currently preparing to list on the SET. The information provided during these seminars will include such topics as how to prepare for listing, the five steps to listing, issues investors are interested in, accounting topics, tax issues as well as information on internal audit and control, good corporate governance, information disclosure, and investor relations.
Guest speakers will include executives from state enterprises have already been successful in listing such as PTT Pcl. and MCOT Pcl. These executives will be sharing their experiences with others. Furthermore, there will be speakers from the Revenue Dept., auditing firms, securities firms and credit rating agencies as well as the SET’s CG Center, to help the state enterprises prepare for all aspects of the listing process,” Mrs. Puntip said.
Executive Vice President of the SET, Ms. Sopawadee Lertmanaschai, stated that the state enterprises play an important role in the Thai economy. The market capitalization of six listed state enterprises on the Exchange represent about 18% of the total market capitalization. PTT Pcl. has the highest capitalization with nearly THB600 bln. (approx. USD15 bln.)
In 2004, there were 2 stated enterprises listed. They were the Airports of Thailand Pcl. and MCOT Pcl. These companies raised approximately THB20 bln. in funds, accounting for 28% of the THB75.4 bln. total funds raised last year.
“There are many state enterprises in the preparation process. The SET has invited their executives to attend these seminars as they’ll be a good opportunity for them to learn directly from people who’ve already been successful in listing. The seminars will also be a good opportunity for them to share their own views and concerns with guest speakers and other attendees. These seminars will be very useful in helping them better prepare their state enterprises for listing,” the SET EVP said.
The first seminar was on June 15, 2005 and was entitled “State Enterprise Development and Preparation for Listing”. This seminar included the government’s policy for developing state enterprises, their corporatisation process, fundraising and other related issues e.g. aspects that investors are interested in, the five steps to corporatisation, how to list on the Exchange and what they should do after getting listed. The seminar also provided useful experiences from PTT Pcl. and MCOT Pcl. executives.
The second seminar will be held on June 21, 2005 and will be entitled “Issues on Accounting, Taxes, and Internal Audit & Control”. Interesting topics at this seminar will include accounting systems and the production of financial reports, related tax issues, internal audit & control systems, risk management and assessment, as well as tax issues faced during the period prior to fundraising.
The third seminar will be on July 25, 2005 and be entitled “Towards Good Corporate Governance and Key Responsibilities in Disclosing Information”. The seminar will be on good governance principles and approaches, after-listing best practices, information disclosure, the challenges of state enterprises in terms of good governance, and investor relations work.
All three seminars will be held in Meeting Room 1101, 11th of the SET Building from 08:30 – 17:00hrs. The eleven state enterprises with executives attending include the Electricity Generating Authority of Thailand, TOT Corporation Pcl., CAT Telecom Pcl., Metropolitan Electricity Authority, Provincial Electricity Authority, Metropolitan Waterworks Authority, Thailand Post Co., Ltd., The Government Pharmaceutical Organization, The Tanning Organization, Transport Co., Ltd., and Industrial Estate Authority of Thailand.
