Briefs

According to KC’s filing to the Stock Exchange of Thailand, the company was informed by Chai Ngamachariyakul, president and major shareholder of the company, that Chai and other shareholders, together holding 514.16 million shares, had entered into a sales agreement on Saturday with Pattarapob Ittisanyakorn, who is an investor and does not have any |relationship to Chai and the company, at a price of Bt2.61 per share.

“The buyer will complete the transfer of the shares within 60 days from the agreement date (before March 9) and the buyer will comply with the rules |and regulations of the Securities Exchange of Thailand regarding the transfer of the shares. 

“The company has not been informed by the buyer of any changes regarding the company’s business,” vice president Somchai Vanavit said.

 

SEC supports AMC competitiveness

 

The Securities Exchange and Commission supports asset management companies to raise their competitiveness with more distribution channels, new types of mutual funds and joint business development in the region with foreign investment funds. 

The SEC will also promote the use of mutual funds to help solve the lack of savings.

Vorapol Socatiyanurak, secretary-general of the SEC, said after the last quarterly meeting of 2014 with the Association of Investment Management Companies that the SEC would facilitate a conducive environment for AMCs. 

Regulations governing fund establishment and management have been issued and revised with more flexibility and in line with international standards supportive of capital market development. 

New distribution channels such as fund supermarkets and more convenient access to paying agents have been allowed to reach out to investors. 

New types of mutual funds with permission to invest in a variety of assets have been introduced. 

Some examples are mutual funds for accredited investors investing in securities listed on the exchanges in the Greater Mekong Subregion and mutual funds without an investment limit on derivatives. 

The SEC also urged AMCs to seek business opportunities in the region by using an infrastructure trust, a new vehicle for investment in overseas infrastructure projects. 

With intra-regional investment in infrastructure, Thailand can become a connector for the fundraising of regional infrastructure projects while more product variety will serve investors better. 

The regulations will be effective in early 2015.