Thailand ranked 4th in Asia for corporate governance

BANGKOK, Dec 24 (TNA) - Thailand has been ranked fourth out of 11 countries in Asia by the Asian Corporate Governance Association for corporate governance.

Thirachai Phuvanatnaranubala, Secretary-General to Thailand's Securities and Exchange Commission or SEC, said on Friday (Dec 24) that the Asian Corporate Governance Association, in conjunction with Credit Lyonnais Securities Asia or CLSA, Asia-Pacific Markets, has evaluated corporate governance of 11 Asian countries and then moved Thailand’s rank up to fourth this year from eighth last year, reasoning that the Thai government has a concrete policy on capital market development plans showing that it is determined to seriously develop the Thai capital market.

Thirachai revealed that the Thai Parliament has also passed a legal amendment aimed at upgrading the country's corporate governance.

The SEC chief acknowledged that the national achievement has stemmed from coordination and cooperation among parties concerned in the Kingdom, including his office, the Ministry of Finance, the Stock Exchange of Thailand or SET and various associations in the Thai capital market.(TNA)