Exchange's fund to be used for industrial estates
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The capital market associations are channelling their Bt500 million fund to resuscitate flood-hit industrial estates in order to quickly restore the confidence of local and foreign investors. Earlier, they planned to use the fund to ease the troubles of f
“Reviving industrial estates is an urgent issue. Our objective in setting up the fund is to restore investor confidence and industrial estates operations, in line with the master plan,” said Finance Minister Thirachai Phuvanatnaranubala.
Stock Exchange of Thailand Chairman Sompol Kiatphaibool said that the fund would be channelled to the six flood-hit industrial estates. Flood barriers and pumps would be bought for the industrial estates, to show foreign investors of the public and private sector’s determination in resuscitating the estates and ensuring normal operations as soon as possible.
Today, the exchange, which is contributing half of the fund, had a meeting with Thirachai, Deputy Prime Minister Kittiratt Na-Ranong and associations in the capital market - the Thai Listed Companies Association (TLCA), Association of Securities Companies, Association of Investment Management Companies, MAI Club and The Thai Bond Market Association.
Jetro Bangkok, a body representing Japanese investment in Thailand, earlier urged the government to quickly drain water out of flood-hit industrial estates and protect the other industrial estates. As the industrial estates are submerged in water, more than 1,000 factories have suspended production and this has resulted in a widespread supply chain disruption in the automotive and electronics industries.
