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Published on August 31, 2007

About 90 fund managers from the US, Canada, Asia and Europe with more than US$3 trillion (Bt103 trillion) in assets under management will participate in the event, said SET president Patareeya Benjapholchai.

They have invested a total of $8.6 billion in Thailand.

"The event is aimed at presenting progress information about the country's economy and industry. Institutional investors will have a chance to listen to the country's target and management strategy from both the private sector and high-ranking government officials," Patareeya said.

Apart from the 90 global fund managers, another 90 local fund managers have also accepted invitations to attend Thailand Focus 2007.

"This is the first time the SET has invited the stock exchanges from Malaysia, the Philippines, Singapore, Indonesia and Vietnam to send representatives from their listed companies to provide information about the direction and challenges of the tourism industry in each country. It's a continued effort by Asean stock markets to form closer links with each another," she said.

Phatra Securities CEO Suvit Mapaisansin said 63 Thai listed companies with a combined market capitalisation of Bt3.98 trillion had already accepted invitations to present their information to investors.

"We expect that up to 960 meetings between Thai listed companies and investors will be held over the three days. Participants will also visit listed companies' offices for a direct experience," he said.

"Foreign investors view the Thai stock market's size as tiny, at only 1.5 per cent of MSCI Asia-Pacific and a small percentage in MSCI Emerging Markets, and that it is unnecessary to invest in the Thai stock market," said Merrill Lynch executive Anders Wihlborn. "Therefore, it is essential to convince them that the Thai stock market will continue offering high returns in the long run, to attract them to invest. Thailand Focus is an opportunity to make foreign investors better understand the Thai capital market."

Merrill Lynch recommends investors buy Thai shares in the short term, because it believes the net profit of Thai listed companies will jump sharply, he said.

The price-to-earnings ratio of the Thai stock market remains 40-per-cent lower than that of other countries in the region, following the slowdown in growth of listed companies' earnings in the past two years and uncertainties in regulations and politics, he added.

Prime Minister Surayud Chulanont will be the key speaker, with an address on "This Government's Legacy for Thailand". Other outstanding panel discussions will include "Policy Options of the Future Government", "Thailand's Automotive-Industry Outlook", "Opportunities and Challenges for Tourism Development in Asean" and "Thailand's Productivity and Competitiveness".

Siriporn    Chanjindamanee

 The Nation