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Thailand’s SET to launch third tier bourse for startups

The new bourse will be an addition to the country’s two established exchanges — the first-tier SET and second-tier Market for Alternative Investment, or MAI.

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The Stock Exchange of Thailand is planning to set up a new bourse listing startups and other small cap companies in 2017.

The Stock Exchange of Thailand (SET) announced its strategic plan for 2017, driven by the vision “To Make the Capital Market ‘Work’ for Everyone.”

To continue strengthening SET’s leading position in ASEAN, boosting market growth in term of both fund mobilization and investment activities and ensuring high quality standard in all operational platforms are core missions.

Thailand currently has two bourses, which are the SET and the Market for Alternative Investments. However, the criteria of both exchanges are difficult for startups to meet, for example, the minimum of registered capital and the requirement of profit for three consecutive years.

Meanwhile, SET aims to expand its fund raising coverage to competitive s-curve industry, startup businesses, as well as strengthening Thai aging society in term of wealth creation, reinforcing SET mission toward inclusiveness and sustainable growth.

“This is a new thing in Thailand and we are working on it including considering the new specific criteria and regulations for the third board. Due to high risk to invest in startups, we may not allow retail investors to trade on this board,” said SET’s president Kesara Manchusree.

Read more at: http://www.dealstreetasia.com/stories/monday-54938/

The goal is to develop the capital market for all stakeholders, while building up the foundation for the Thai capital market, economy, society, and the country in line with the government’s new economic model “Thailand 4.0.”

A particular focus will be put on seeking high competitiveness industries, while establishing
an ecosystem conducive for startup companies for fundraising.

This will be an addition to the country’s two established exchanges — the first-tier SET and second-tier Market for Alternative Investment, or mai — but will operate under “completely different regulations,” SET President Kesara Manchusree told the Nikkei Asian Review.

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Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak

The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.

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The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.

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