SET aims to be most active in Asean

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New finance minister opposes privatisation

The Stock Exchange of Thailand plans to be Asean’s most active securities market by year-end, says president Charamporn Jotikasthira.

The SET currently ranks second in the region after Singapore. Average

Bangkok Post

daily turnover last year was 29.4 billion baht for the SET compared with 34 billion for the Singapore Exchange (SGX).

But Mr Charamporn said trading volume in December actually exceeded that of the SGX, and the SET is targeting average daily turnover of 31-32 billion baht this year.

Meanwhile, the Thailand Futures Exchange (TFEX) expects even stronger growth, with daily turnover of 55,000 to 57,000 contracts compared with an average of 42,000 traded per day last year.

Mr Charamporn said the SET expects market capitalisation to rise by 200 billion baht in 2012 _ 125 billion from new listings and the rest from public offerings.

“Mergers and acquisitions will be a key agenda this year and help to drive the market as well as facilitate growth for large companies,” he said.

Exchange officials will propose to the government that current obstacles to mergers, particularly tax treatment in M&A transactions, be amended to be competitive with foreign regulations.

The SET also plans to launch several new products this year including depository receipts and currency futures, with the latter expected to begin trading on the TFEX in the second quarter.

Mr Charamporn said the exchange will also look to boost liquidity in trade of SET50 index futures and gold futures through expanded after-hours trading services and support for securities borrowing-and-lending services.

Starting in the third quarter, the SET …

Full story from Bangkok Post at http://goo.gl/KeOyI