SET rolls out financial aid for struggling entrepreneurs

SET president Pakorn Peetathawatchai said the index had plunged by 135.02 points (10.8 per cent) by 3.30pm to 1,114.87 points as investors fretted about the damage the Covid-19 virus is doing to business worldwide.
He also cited tough competition and technological changes in the securities industry as challenges facing entrepreneurs.
“We have spoken with government authorities about using the Thai Opportunity Fund to help stabilise the stock market, and that is under consideration,” he said.
The SET has in the meantime issued measures to help reduce expenses and operating costs and increase liquidity for businesses:
• a 20-per-cent cut in the annual fee charged to listed companies, securities companies and asset-management companies using the Thailand Securities Depository (TSD) as registrar
• a lower annual fee for listed companies participating in “Opportunity Day” this year and next, a move aimed at encouraging them to be transparent in sharing information with investors
• lower fees associated with TFEX transactions and for registering derivative warrants, and use of technology enabling free services for individual investors
• a 20-per-cent cut in security maintenance fees from April 1 to December 31 to reduce expenses for TSD members such as securities companies and custodian banks
Pakorn said the SET was ready to assist entrepreneurs, who he said play an important role in driving the economy.
“These measures cover more than 800 firms, including limited companies, securities companies, asset management companies, and custodian banks,” he said.
“The SET will monitor the situation closely and is ready to support the capital-market sector in all dimensions, as well as coordinating with the government in its policy to help entrepreneurs overcome this situation.”