Thailand#s SEC wants change in SET board

Stocks and Financial Services Press Releases Friday July 29, 2016 08:59
The Asian Banker--1 Aug--Asian Banker
The Securities and Exchange Commission has proposed adding independent members to the Stock Exchange of Thailand's board of governors.
Under the SEC's proposal, the SET would have no shareholders, said SEC secretary-general Rapee Sucharitakul.
Stakeholders of the SET would recommend independent members to the SEC's board for nomination.

The proposal is one of three possible options discussed by the Federation of Thai Capital Market Organizations (Fetco) and the Finance Ministry's Capital Market Development Committee after Finance Minister Apisak Tantivorawong recently floated the idea of a clearer ownership structure to sharpen the bourse's competitiveness, including a government ownership stake.

The three choices are the SET will have shareholders; it will continue with no shareholders but with a change in board structure; or no change.
The SET board of governors consists of 11 members. Five are appointed by the SEC, five are picked by SET members and one is the SET president.
Fetco earlier opposed Mr Apisak's idea that the government should hold a stake in the SET.

The group at the time also said the SET's balance sheet was strong enough to pay corporate income tax, as the capital market organisations knew the government needed money to develop its large-scale infrastructure projects.

--www.theasianbanker.com (June 29, 2016)--

Latest Press Release

Fitch Downgrades CGS-CIMB TH to #A(tha)/F1(tha)#; Off Outlook Stable

Fitch Ratings (Thailand) has downgraded CGS-CIMB Securities (Thailand) Co., Ltd.'s (CGS-CIMB TH) National Long-Term Rating to 'A(tha)' from 'AA-(tha)' and National Short-Term Rating to 'F1(tha)' from 'F1+(tha)'. All ratings have been removed from Rating...

Commons Foundation Signs Contract for Blockchain Business Backed by the Paraguay Government

Combining Paraguay's low-cost and abundant electricity with the Commons Foundation's expertise in blockchain technology, the world's largest cryptocurrency mining center and global exchange is to be established. - The "Golden Goose" project will...

mai welcomes real estate developer CMC on November 19

Market for Alternative Investment (mai) will list Chaoprayamahanakorn pcl, a leading real estate developer onNovember 19, under the ticker symbol "CMC". The company has a market capitalization at its initial public offering (IPO) of THB 3.00 billion...

KTC - Chilito Mexican Grill - Farm Factory provide members special privileges for payments made using QR Pay in the KTC Mobile app.

Mrs. Pranaya Nithananon, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, provides KTC VISA and KTC MasterCard credit card members who make payments through KTC QR Pay in the "KTC Mobile" app worth Bt. 300 or more...

Photo Release: KBank opens new flagship branch and THE WISDOM Lounge at ICONSIAM

Mr. Wirawat Panthawangkul (3rd from left), KBank Senior Executive Vice President, and Ms. Chadatip Chutrakul (4th from left), Director of ICONSIAM Co., Ltd., and Chief Executive Officer of Siam Piwat Co., Ltd., participated in the opening ceremony of...

Related Topics