Trade competition faces another delay

This may cause problems in regulating many giant firms and state-owned enterprises, since they will need to comply with this new law. 

The source said the draft had passed the public-hearing process and should be endorsed by the Cabinet and National Legislative Assembly soon to ensure fair competition, but it was delayed again.

The draft had been scheduled for completion in June. The amended act will cover all state enterprises and their subsidiaries involved in business activities. The changes are aimed at making them more efficient and free of political interference. It will tackle unfair-trade practices and punish offenders.

Meanwhile, Finance Minister Apisak Tantivorawong said he would not submit the package to stimulate the property sector to the Cabinet today, since it was not yet finalised. 

 

INTOUCH GETS NEW HEAD 

Intouch Holdings has appointed Philip Tan Chen Chong as its president, effective on November 1.

Tan, a former president of Bank of Ayudhya, will report directly to Intouch’s chief executive Somprasong Boonyachai.

 

SET ROADSHOW IN NY 

The Stock Exchange of Thailand (SET) has teamed up with Auerbach Grayson and Co and KT Zmico Securities to organise a roadshow event in New York City tomorrow and Wednesday. The “Thailand’s New Economy” will showcase the strengths and potential growth potential of ten Thai listed firms to institutional investors.

“The key topics of the roadshow will be Thailand’s economy and the effectiveness of the Thai stock market, as well as the strengths of the ten listed companies,” said Kesara Manchusree, the SET president. “These companies will present information directly to investors in one-on-one meetings and group meetings.”

The companies are Amata Corp, Central Pattana, Gunkul Engineering, Intouch Holdings, IRPC, Krung Thai Bank, Krungthai Card, Nok Airlines, PlanB Media and Srisawad Power 1979. 

“They have a combined market capitalisation of Bt868 billion (US$24 billion) as of October 2, accounting for 6.85 per cent of the total market value. The US investment funds investing in Thai equities representing 4.5 per cent of the Thai bourse’s total market capitalization,” Kesara said.

The roadshow was part of efforts by SET to expand its foreign investor base so that top executives of listed firms could present first-hand information directly to foreign investors to give them more confidence about Thailand’s potential, Kesara added.

This year, SET organised four roadshows focusing on global investment hubs in Europe, the United States and Asia. To wrap up this year’s roadshows, SET will organise its annual inbound roadshow called “Thailand Focus 2015” between December 2 and 4. Fund managers from around the world will be invited to meet Thai listed companies for insights into the Thai capital market and economy.