BANGKOK, Thailand – Asadej Kongsiri, the 14th President of the Stock Exchange of Thailand (SET), has committed to driving the development of Thailand’s capital market with a focus on fairness and inclusivity, October 2. He aims to position Thailand as a Listing Hub for the region, making it a preferred destination for companies seeking to raise funds.
During his first informal press briefing as SET President, Asadej called for a moment of silence to honor the victims of the recent school bus fire. He shared that his operational plan for the SET is in progress and will be presented to the board in November. His personal management philosophy centers on benefiting the public and promoting equality—not just for investors, but for all stakeholders.
Asadej outlined his key pillars for market development:
Fairness: Ensuring equity for all.
Inclusiveness: Broad accessibility for every participant.
Re-imagining the Future: Preparing for future competitiveness.
Sustainability: Addressing opportunities and challenges through sustainable practices.
Trust & Confidence: Rebuilding investor confidence in Thailand’s capital market.
He acknowledged that events in recent years, such as fraud cases leading to investor suicides, have eroded confidence in the Thai stock market. Asadej emphasized the importance of quick and decisive action when issues arise, and the need for continued collaboration with the Securities and Exchange Commission (SEC) and the Anti-Money Laundering Office (AMLO). He stressed the need for SET to improve communication, making it easier for the public to understand key concepts before investing.
Currently, over 800 companies are listed on the SET, but Asadej expressed concern that many have become inactive. He plans to introduce incentives for companies to enhance their value through innovative thinking and out-of-the-box strategies.
Asadej also aims to make the SET a regional Listing Hub, drawing growing foreign companies to raise capital in Thailand by leveraging the country’s strengths in certain industries. To achieve this, collaboration with other government agencies will be essential. Additionally, he plans to encourage Thai-listed companies to improve their return on equity (ROE) and return on investment (ROI) by strengthening their balance sheets.
Exploring new financial products is also part of his strategy, with gold options currently under consideration, given rising investor interest. Asadej remains optimistic about the recovery of the Thai stock market, noting steady GDP growth since Q1 and the government’s stable policies and initiatives, including Thai ESG tax-relief funds and the Vayupak fund.
In conclusion, Asadej encouraged all investors to see the capital market as a shared resource, pledging to listen to all opinions and work together for the betterment of Thailand’s financial landscape. (TNA)
