If the idea is implemented, Thai and Singaporean companies would be able to list on both the Stock Exchange of Thailand (SET) and the Singapore Exchange.

SET executive vice president Sopawadee Lertmanaschai said yesterday that the SET, the Securities and Exchange Commis-sion (SEC), and the Singaporean stock market had earlier discussed dual listing on the two exchanges.

The meeting attendees agreed to have the Singapore Exchange study the regulations and platform for such listings.

There are several platforms for dual listing, which vary depending on each country's policy.

"There has been progress in the consideration of the guidelines for dual listing," Sopawadee said. "The SET, the SEC, and the Singaporean stock market have discussed having the Singaporean exchange take the lead role."

She added that the dual listing would take time as it is a complicated process and may not be completed by the end of the year.

Dual listing currently can be done on a case-by-case basis but is not popular among listed firms as there are several obstacles concerning price arbitraging between the two markets. The further study of dual listing is expected to cover this issue.

Thai Beverage Plc will list on the Singaporean exchange at the end of this month, but is still not able to list on the SET as it has to wait for the SEC's approval to do so.

Sopawadee added that the listing of Thai Beverage on the Singapore stock exchange would not coax other Thai firms to follow suit.

She believes that Thai companies mostly would like to list on the SET as Thai investors know them better than Singaporean investors. If they list on the foreign bourse, they may not attract the interest of local investors, she said.