The Stock Exchange of Thailand (SET) has announced a 3-year strategic plan (2024-2026) to elevate the confidence in the Thai capital market by enhancing market integrity and competitiveness.
- The Stock Exchange of Thailand (SET) is implementing a 3-year strategic plan to enhance market integrity, competitiveness, and sustainability, leveraging AI and technology to protect investors and support quality companies.
- The plan focuses on increasing market confidence, attracting investments, and developing infrastructure to meet global standards while also supporting ESG initiatives and promoting financial literacy.
- Key achievements in 2023 included successful IPOs, improved trade surveillance, and efforts to create a market that works for everyone, with a commitment to achieving net-zero emissions by 2050.
The plan aims to create a sustainable growth-oriented market by leveraging AI technology for surveillance, supporting the registration of high-potential companies, and attracting investors through roadshows.
Additionally, there is a focus on developing infrastructure, promoting ESG practices, and providing financial education to the public. The plan also highlights achievements in fundraising, trading volume, and market development in 2023.
The year 2023 has been a turbulent one for the Thai stock market, as several scandals, defaults and volatility have shaken investor confidence and prompted regulatory reforms.
Excessive volatility in some shares, including the nation’s most valuable company, and an accounting scandal that led to a bond default at a listed electric cables maker are among the latest events that have shaken investor confidence.
Stark Corporation, a wire and cable manufacturer, has been involved in a major financial scandal. Executives and subsidiaries of the company are accused of doctoring financial statements, engaging in fraud, and money laundering.
The SEC recently said that it will pay more attention to bonds of companies with no credit rating or low grades, requiring more disclosure on financial data. This increased monitoring comes after a 19% decline in total domestic debt sales in 2023, with high-yield corporate bond sales being a key factor.
