SET 'privatised by 2010'
Stock Exchange of Thailand chairman Vijit Supinit expects the bourse to be privatised by 2010. It is currently studying the move, he said yesterday.
Speaking at an event to mark the SET's 32nd anniversary, Vijit said the SET had world-class operating standards. However, there would be some revision of relevant laws to modernise the equity bourse.Vijit said privatisation of the SET would definitely happen, as it is a global trend and has already taken place in other Asian stock markets. There will cooperation between the Thai capital market and those in Southeast Asia in order to boost the local market's efficiency, he said, referring to an earlier agreement among regional countries for further capital-market cooperation by 2010. He said the SET's study committee had not yet reached a conclusion about the privatisation of the exchange. Next week, the SET will visit Singapore for a joint road show with the capital markets of other Southeast Asian countries. Vijit said that despite the Kingdom's strong economic fundamentals, political uncertainty had brought about an economic slowdown. He said the capital market wanted the government to stimulate the economy via fiscal and monetary policies and the boosting of investment in mega-projects. In addition, the general election should be held on schedule by the year's end, he said. Meanwhile, Kampanart Lohacharoenvanich has been re-elected president of the Association of Securities Companies for a further two years. Kampanart said that over the next five years, the Thai capital market would experience major change as the authorities liberalise the securities sector. Siriporn Chanjindamanee The Nation
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