SET sets up Bt500mn matching fund
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Capital markets organisations, led by the Stock Exchange of Thailand, is setting up a Bt500 million matching fund for flood rehabilitation.
The exchange, the Federation of Thai Capital Market Organisations, Association of Securities Companies, Association of Investment Management Companies, and Thai Listed Companies Association agreed late Thursday evening that they would set up the fund. The exchange agreed to inject half of the fund, which is pending for the SET board of directors' aprpoval, while the other three associations will mobilise the rest.
The fund would be presented to the government.
"After the water retreats, there'll be huge need for rehabilitation. Initial damage is estimated at Bt100 billion, but this excludes damaged properties and damage to industrial estates. Losses are counting," said Paiboon Nalinthrangkurn, Fetco president.
