SET praises late Paiboon Wattanasiritham
"Khun Paiboon Wattanasiritham, as the third president of the Stock Exchange of Thailand, had contributed a great deal to the Thai capital market," said incumbent SET President Charamporn Jotikasthira in a statement to morn his departure on April 9.
"He laid down the strong foundation and he vehemented supported greater social responsibility from the capital market. During his tenure as a deputy prime minister and minister of the Social Development and Human Security Ministry, he supported the establishment of the Corporate Social Responsibility Institute. His departure is a great loss of the Thai capital market. His legacy would be always remembered," Charamporn said.
Paiboon died of pancreatic cancer on April 9. In his work life, he held many key positions including the SET presidency during August 1980-April 1982. The funeral chanting ceremony takes place at Wat That Thong Sala 7 (with a skip during Songkran holidays). The family specifically asked guests to bring no wreaths.
In 1980, the stock exchange was in the dull mode, with daily trading volume as thin as Bt5-Bt10 million. Without the Securities and Exchange Commission, the exchange took actions in ensuring trading transparency. In his term, Paiboon put in place trading regulations, strengthening the rules to control share manipulation and improving the efficiency of computer system. The exchange then also required information disclosure from listed companies, for dissemination to stock investors and the general public.
When the CSRI was established in 2007, Paiboon served as chairman of the advisory board. The CSRI was established to raise awareness on social responsibility among listed companies.
