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Published on September 17, 2007

"The SET is quite serious about this issue as more companies are tapping funds overseas. This also reflects on the SET's competitiveness as against other stock markets," a source said last week.

The SET's units are collecting information on which Thai companies plan to issue debt instruments or list their subsidiaries abroad, the source said.

The units must analyse the data and propose how to attract those companies to mobilise funds domestically instead of internationally, the source said.

Banpu says it will list its coal-mine holding firm, PT Indo Tambangraya Megah, on the Jakarta Stock Exchange next quarter to raise up to US$300 million (Bt10.3 billion).

Thoresen Thai Agencies Plc plans to list its subsidiary, Mermaid Maritime, on the Singapore Exchange and has no plans to seek a dual listing on the Thai bourse.

Kongkiat Opaswongkarn, CEO of Asia Plus Securities Plc, said there were many international deals at the moment.

He cited his firm, which is working on 36 deals advising local companies to invest overseas and foreign firms to invest here and on mergers and acquisitions and new share sales.

"Many Thai companies plan to go abroad, with India, China, the Middle East and Vietnam their most popular destinations," he said.

"At the same time, Indian and Chinese investors have expressed interest in investing in Thailand. They plan to invest in the manufacturing and entertainment industries. Thailand's best-performing sectors are processed foods, electronic and electrical appliances, hospitality and real estate."

Several local companies are lining up to expand into overseas markets to exploit the strong baht. Siam Cement Group and Charoen Pokphand Group are among them.

Kongkiat said the brokerage business remained his firm's major source of income at 60 per cent of total revenue in the first half of this year, followed by the investment business at 30 per cent and investment banking at 4-5 per cent.

For the first six months Asia Plus Securities posted a consolidated net profit of Bt201.5 million, down slightly from Bt215.86 million in the corresponding period last year.

Siriporn     Chanjindamanee,

Oranan Paweewun

The Nation