SMEs Bond project to facilitate fundraising
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Small and medium-sized companies with assets below Bt2 billion are being wooed to join the Securities and Exchange Commission's "SMEs Bond" project, designed to get them ready to fund mobilisation in the bond market.
A number of companies and associations are joining the SEC in providing privileges to applicants. Tris Rating and Fitch Ratings (Thailand) quote a lower rating fee. Thai Bond Market Association gives a discount on registration admission fee, annual fee and training fee. Ready to help publicise their fund raising are BEX, Thai Listed Companies Association and MAI Listed Companies Association. Then, the Federation of Thai Industries and Thai Chamber of Commerce will spread the news through their nationwide networks. The SEC will also waive application fee for bond issuance approval and reduce submission fee for initial registration statement.
SEC Secretary-General Vorapol Socatiyanurak said “With over 3 million SMEs located nationwide, they are key to economic growth. Our mission is to facilitate fundraising through the capital market for SMEs such as issuance of bonds and bills. Like the “Pride of the Provinces” project, “SMEs Bond” project participants can join training courses on market knowledge and fundraising vehicles to get better equipped with bond issuance, and apply for credit rating agency’s rating at a lower cost. Corporate ratingsr would stimulate performance improvement, increase SMEs reliability, enhance recognition from business partners and customers, and by extension, boost SMEs competitiveness and Thailand’s GDP growth.”
The privileges are available from Sept 1 to the end of this year.
The SEC earlier launched the "Pride of the Provinces" project to select potential provincial companies ready to tap funds in the national markets. A number of 104 companies from 34 provinces in different industries were spotted in the project.
In addition to the SMEs Bond project, the SEC supports business operators to recognize private equity (PE), a joint venture investment aiming to promote business expansion of strong potential business or business with new technologies. The SEC will hold a free seminar on “Private Equity: Business Alliances for Business Growth” for SMEs on August 28.
