Thai stock market board approves demutualisation plan

Bangkok, June 26 (TNA) – Stock Exchange of Thailand (SET) president
Patareeya Benjapolchai on Wednesday revealed that the board had agreed in principle to restructure SET and its subsidiaries as part of a demutualisation plan to transform them into listed companies by 2011.

The restructuring is being made in compliance with recommendations from
the Boston Consulting Group, which was engaged to study the planning and
procedures for the demutualisation of SET and its subsidiaries so they
could be listed on the market in the next three years.

Mrs. Patareeya said SET planned to reorganise and adjust its strategic
plan for growth in the next five years.

Under the plan, it targeted doubling SET's market capitalisation from Bt6
trillion at present to Bt12 trillion and its revenue from Bt2 billion to
Bt4 billion by 2013.

She said the Securities Exchange Act would be amended to justify the
demutualisation of the SET and its subsidiaries.

Mrs. Patareeya said the SET is ready to hear and act upon advice from
responsible players and to discuss recommendations with the Securities and
Exchange Commission, the Finance Ministry, and the Thai Capital Market
Development Committee. (TNA)