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In reviewing its performance over H1/2006, Thailand Securities Depository Co. Ltd. (TSD) announced that 53% of its investors currently use its electronic dividend transfer (e-Dividend) service.
TSD cooperated with nine commercial banks in offering ‘e-Dividend’, with 429 public companies, or 85% of all listed firms, participating in the program. There are now over 600 thousand people (53% of shareholders in the market), receiving their dividends via e-Dividend, TSD President Ms. Sopawadee Lertmanaschai declared.
“Our on-going promotion of e-Dividends has yielded a 30% reduction in dividend checks returned to TSD,” said Ms. Sopawadee.
TSD announced the impending introduction of electronic IPO (e-IPO) and SBL (securities borrowing and lending) services. The development of a web-based IPO (initial public offering) service is expected to expand the investor base and allow both securities companies and investors to implement and track their subscriptions more efficiently.
“When the service becomes available in late August, e-IPO will lessen the costs for securities companies, whether they are offering securities with or without advance allocation,” said Ms. Sopawadee.
SBL, the other new service, will include matching, confirming, managing collateral, settling securities and related collateral, following up related benefits and corporate actions, and producing reports for a bond’s duration. Initially the service will cover only government bonds
During H1/2006, TSD acted as registrar for THB 2.3 trillion Bank of Thailand (BOT) bonds, representing 71% of bonds issued by BOT. The Depository will be providing collateral management and bonds lending services by the end of this month.
“These additional services, intended to help investors and members, will reduce costs for the industry, while providing more tools for portfolio management, thus increasing efficiency and liquidity,” said Ms. Sopawadee.
For those using the scriptless system to deposit their securities at the issuer account, TSD offers additional choices: subscribers to public offerings can place their shares in their accounts with securities companies, or keep them in the issuer’s account at TSD, but in the purchaser’s name. In the latter case, TSD will send them free summary reports.
TSD also provides a counter service for securities companies and shareholders. The counter is open from Mon. – Fri., 08:00 – 19:00 hours; Sat. 09:00 – 17:00 hours, and serves about 1,300 users a day, an 18% increase over in 2005.
To provide information, TSD’s Call Center, providing both automated and personal data, has long been popular, but TSD is also expanding its website, www.tsd.co.th, Now, only unit trust holders can browse details on, e.g., the net asset value of their funds, dividend payment history, and details of their holdings in funds. This site will soon be able to serve other categories of clients as well.
International activities have included hosting an international conference, the 8th ACG Cross-Training Seminars: “Merits and Demerits of Direct & Indirect Account Methods” and “Securities and Borrowing and Lending” during June 27 – 27, 2006, for members of Asia-Pacific Central Securities Depository Group, representing 27 organizations in 18 countries.
In March 2006, TSD, in conjunction with the Pan Asia Securities Lending Association (PASLA) and Risk management Association (RMA), hosted the 3rd Annual PASLA/RMA Conference on Asian Securities Lending.
For more information on TSD, please visit www.tsd.co.th, call TSD Call Center at 0 2229-2888 or email contact.tsd@set.or.th
