Patareeya Benjapolchai, the SET's president, said yesterday that 32 Singaporean and foreign institutional investors would participate in the road show.The 10 listed companies are Bangkok Bank, PTT Plc, Krung Thai Bank, TMB Bank, Thai Airways International Plc, MCOT Plc, Preuksa Estate Plc, Asian Property Plc, Airports of Thailand Plc, and Electricity Generating Plc.

As of July 4, these 10 firms had a combined market capitalisation of Bt1.26 trillion, representing 25 per cent of the overall listed companies' market capitalisation.

The state-owned Government Housing Bank will also join the Thai stampede to Singapore this year. The road show will include an introduction of the Thailand Futures Exchange to Singaporean and foreign investors after it was inaugurated in late April.

"A number of Singaporean investors have invested in the Thai bourse and some foreign investors trade Thai shares through Singapore. During the road show, the SET's business plan and its offering of integrated market instruments will be presented," she said.

In order to attract more companies to list on the stock market, Patareeya said the 41 companies had joined hands with five major banks to each compile lists of between 50 to 100 companies that might join the SET. The five banks are Bangkok Bank, Krung Thai Bank, Siam Commercial Bank, Kasikornbank and TMB Bank.

 Companies that want to qualify for listing on the SET must have an average market capitalisation size of Bt5 billion, while those on the smaller Market for Alternative Investment should have between Bt500 million and Bt1 billion.

Patareeya said that rising oil prices had dealt the hardest blow to listed companies because almost all of them are oil-dependent in some way.

"Rising interest rates are the second-biggest factor," she said.

Siriporn Chanjindamanee

 The Nation