KAsset hopeful over licence
Kasikorn Asset Management expects to become the country's third venture-capital licence-holder in either August or September and launch at least one fund this year.
The Securities and Exchange Commission is considering the company's application.At present, BVP Venture Capital Management Securities and Vnet Venture Capital Management Securities only are licensed. KAsset has the only application pending. SEC investment-management supervision-department director Duangmon Chuengsatiansup said venture-capital companies licensed before January next year did not have to pay tax on dividends or capital gains. Venture capital is reserved for local institutional investors or foreigners. The company will raise money for small and medium-sized enterprises with permanent assets excluding land not exceeding Bt200 million and employing fewer than 200 people. KAsset executive vice chairman Wiwan Tharahirunchote said venture capital operations should start within two months and its first fund should be launched this year. It will be about Bt200 million. KAsset is seeking a managing director. Wiwan said the new licence was "in line with Kasikornbank's plan to provide "well-rounded services to SMEs". The bank has a policy of holding stakes in SMEs for at least five years. It will provide the seed money for the fund. Piyarat Setthasiriphaiboon The Nation
|
