Only 16 firms on MAI in profit in '05
Of the 35 companies listed on the Market for Alternative Investment (MAI) last year, 16 earned a profit, said MAI president Chanitr Charnchainarong yesterday.
The overall performance of MAI-listed stocks was better than the previous year's when 23 firms were listed. Their combined revenues last year amounted to Bt23.50 billion, up 22 per cent from 2004. The MAI hopes to add another five companies this year, even though 10 companies are preparing to list on the small-cap bourse. "We will do our best to achieve this target, but I cannot say at the moment if we will succeed because there are several uncertainties like politics, higher fuel prices and the overall economy," he said. As for progress on the Matching Fund programme, he said it would be completed by the end of this year. MAI is talking with fund's managers about it. The Matching Fund plan is an MAI-led joint venture that would invest in companies that intend to list on its board. The fund will invest between Bt20 million and Bt50 million. According to the initial idea, the fund will have start-up capital of Bt100 million, which would be raised to Bt300 million at a later date. The fund must allocate 60 per cent of its cash for investment within three years it gets off the ground, he said. Siriporn ChanjindamaneeThe Nation
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