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Published on January 25, 2008

The three-month programme, developed with the Federation of Thai Industries (FTI) and the Market for Alternative Investment (MAI), has begun accepting applications and will start in March.

In this ever-changing capital landscape, Thailand has a shortage of chief financial officers who are capable of steering their companies through the ebb and flow of capital movements, said Nida associate dean Boonchai Hongcharu. Capable chief financial officers, such as Bangchak Petroleum's Patiparn Sukorndhaman and PTT's Pichai Chunhavajira, are concentrated within large blue-chip companies.

Boonchai said the new programme, with these experienced chief financial officers on board as guest lecturers, would train the next generation of corporate-finance practitioners, who would be comfortable working in an international setting.

Catered to MBA graduates, aspiring middle managers and family-business heirs, the programme will emphasis practice over theory, with plenty of real-life case studies and presentations, said FTI vice chairman Nipon Surapongrakcharoen.

For instance, students will travel abroad to participate in a workshop with PTT and learn close-up how new businesses are won and how to raise capital.

Judging from the annual reports of companies listed on the Stock Exchange of Thailand (SET), Boonchai figures many middle managers are now straddling in-between job descriptions, with some shouldering the responsibilities of a chief financial officer.

"Some companies do not have a chief financial officer, and that could burden the CEO," he said.

The class, held at the Stock Exchange of Thailand each Friday and Saturday, will also include tours and possible collaborations with companies listed in the MAI, said MAI president Vichate Tantiwanich. These fast-growing medium-sized companies can provide a framework for chief financial officers working in emerging economies like China or Vietnam, said Boonchai.

"Do not underestimate small or medium-sized companies. In China, a small company can grow 1,000-fold within only a short period. And the chief financial officer or finance director must be prepared for changes," said Boonchai.

The large number of foreigners, particularly Singaporeans and British, in senior financial roles reflects a wider shortage of senior managers in Thailand who are capable of working under international pressure. Besides SingTel chairman Chumpol na Lamliang and UN Conference on Trade and Development secretary-general Supachai Panitchpakdi, Thais are hard-pressed to name another countryman who is a prominent global leader.

"We're looking to develop programmes for chief marketing officers and chief operating officers," said Boonchai, adding that he hoped to see more senior Thai managers exported to regional roles.

Ki Nan Tsui

The Nation