SET urged to chase listings from abroad

Opening the SET in the City 2018 event yesterday, Somkid said the Stock Exchange of Thailand should target those businesses or firms that it would want to see on the local bourse and examine the information on them at the Board of Thailand. The SET should work actively to analyse any potential obstacles to fundraising and work on solutions.
 “Now, China and Japan have a policy to join up for overseas investments. This development presents as an opportunity to attract investment into Thailand,” Somkid told those at the event, which is being held at Siam Paragon Hall until November 18.
“It's an opportunity for the Thai exchange to see new listings of new businesses from across the New S-Curve, AI and R&D. What should we do to have these businesses join with Thai firms on investment for a listing on the exchange, which could become a regional hub for stock trading?”
No matter the state of the global economy, the Thai capital markets remain strong and will become a regional hub, said Somkid, expressing his confidence that the local capital markets will see increasing interest from foreign investors.
 “My dream is that the Thai capital markets will become a regional hub, which will help our neighbouring countries as sources of funds. I want the stock exchange to reach the digital age, as all connections with other stock markets and investment will be done through digital technology in the future,” Somkid said.
In regard to the proposed long-term equity funds (LTFs) for which the existing LTFs' tax privilege programme will end next year, Somkid said that the Finance Minister will consider the proposal in details and improve them to give opportunities for both the young and old to secure long-term savings.
"Regarding the existing one which will expire (tax privileges from LTF investment), the Ministry of Finance will tell us whether to review or improve them. We don't want to rush on this as the privileges will expire in 2019," he said.
Pakorn Peetathawatchai, president of the SET, said that technological advances had prompted rapid and dramatic changes in all industries, leading to an evolving environment.
 “Technology at the bourse has been used to keep and analyse information for the development of new services and tools extending from online account opening processes, investment portfolio arrangement and planning for stock selection for convenient investment to personalised needs and lifestyles and higher efficiencies,” he said.
The SET has teamed up with more than 100 organisations to stage SET in the City this year. Commercial banks, brokerages, asset investment companies and insurance companies are presenting their services at the event. Investment portfolios designed under the concept of “Total Wealth Solution” were unveiled, consisting of stocks, mutual funds, derivatives and insurance policies. A new product, TFEX Gold Online Futures, was also introduced at the event.