FETCO urges agencies to get ready for AEC

“Next year’s plan is to have transparency. We will touch bases with agencies related to capital markets to hear about their ideas and directions,” Fetco chairman Paiboon Nalinthrangkurn said yesterday.
“Thai companies have not invested in other countries seriously, while those from Malaysia and Singapore have entered the Thai capital markets,” he said.
Fetco wants to ensure that listed companies, the Securities and Exchange Commission and other securities-company associations are all going in the same direction.
A central agency should be set up to gather information on Asean countries, which will be useful for research. This would help save research costs for securities houses, Paiboon said.
Officials will also be asked to help reduce the expenses of Fetco’s members through tax deductions if additional research is required.
Usually, industry research enjoys a deduction of two times the costs incurred.
Fetco plans to push for the privatisation of state enterprises next year, which could expand the Thai capital markets and attract more foreign investors, and also to push a proposal for making provident funds compulsory, as some listed companies do not have provident funds for their employees yet.
Last year Fetco acted as a centre for forwarding the private sector’s proposals to public agencies and also joined forces with the government to organise seven or eight roadshows. Next year’s roadshows are expected to be similar to this year’s.
Fetco will provide investors and its members more financial knowledge with clear practices and key performance indicators.
The permanent secretary of the Finance Ministry has been appointed as chairman for providing financial knowledge, Paiboon said.