Top securities executives support proposed lifting of Thailand's emergency decree

BANGKOK, July 24 – Top executives in Bangkok's capital market have expressed their support for the proposed lifting of the emergency decree to pave the way for the national reconciliation.

Kongkiat Opaswongkarn, chief executive officer of Asia Plus Securities, said should the decree be scrapped, it could give a signal that the situation in Thailand has returned to normal.

Now, he conceded, some countries viewed the situation in Thailand as unusual following the recent political mayhem. But he believed the situation would improve and that Thai people in conflict with each other would turn to talk to each other in a more friendly manner.

Dr Kongkiat said that investment in the Thai stock market had become bullish since listed companies had enjoyed better-than-expected
performance results.

Should the political situation improve, the Map Ta Phut Industrial Estate problem be resolved, and operating results of listed companies continue improving in the second and third quarters, he believed, foreign investors would return to invest in Thailand.

Montri Kongpaisal, chief executive officer of Kim Eng Securities, said the decision to lift the emergency decree must be made with caution.

However, if the political situation became stable, he was confident the Thai economy would expand at least 8-9 per cent this year.

Should the economy continue picking up in the second half of the year, it would contribute to the increased investment as foreign investors would turn to invest in the stock market.

Given these factors, he believed the Stock Exchange of Thailand’s composite index would climb up to 900 points by this year. (MCOT online news)