The Chairman of ASCO, Mr. Suthep Peetakanont, disclosed that it has been recognized that the roles of various bodies in the capital market, including their personnel, are important to the development of the capital market. ASCO, AIMC and the Listed Companies Association will threfore be making a joint statement dedicating the year 2004 to be a year of "quality improvement for the operators in the capital market". This is aimed at raising the standards of quality in the Thai capital market so as to make it grow with stability and sustainability. There are three key issues for development which will be emphasized -administration, human resources, and services This joint statement will embark the Thai capital market on a new frontier since it will be stated by the operators themselves. This is, hence, truly a major step toward a positive change in the market.
"ASCO will be focusing on raising good governance standards, more efficient risk management, and the work standards and ethics of the personnel of the securities companies including securities dealing officers, securities analysts, and marketing representatives. Moreover, raising service quality will also be focused on. We will educate the market-investors, general public as well as various businesses-about investing more wisely," the Chairman of ASCO said.
The Chairman of AIMC, Mr. Maris Tarab, elaborated on how to improve the quality of its member companies. The AIMC will be focusing on information dissemination regarding mutual funds, fund management and investor education. AIMC also intends to make the presence of the investment management companies felt more as institutional investors in the market so that they can play more roles in checking the transparency and promoting good governance in the Thai capital market.
In regards to quality improvement of Thailand's listed companies, Mr. Machima Kunjara Na Adyudhaya, President of the Listed Companies Association, said that emphasis will be placed on promoting good corporate governance and transparency, more efficient risk management and more timely and accurate disclosure of information so as to inform all stakeholders more equitably. Besides, the roles played by the companies' directors, the roles played by company executives will also emphasized as these roles are also vital to corporate success.
The three institutions will be making their joint official announcement to promote "2004: Year of Quality Improvement" on Tuesday 13 January 2004 at the Queen Sirikit National Conventional Center at the "Securities Analysts Fair 2004" which will start from 08:30 onwards.
