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Published on September 21, 2007

President Patareeya Benjapholchai yesterday said the first half of the year had seen fewer-than-expected new listed companies.

This is reportedly due to the political and economic uncertainty of the past year. Several firms have decided to postpone listing from this year to next, or even indefinitely.

However, she believes about 20 new companies are able to list, and the SET is attempting to find new companies as a fresh supply for the market.

Earlier, the SET had expected about 64 newly listed firms this year. However, over the first nine months, fewer than 10 companies listed.

Previously, SET chairman Pakorn Malakul Na Ayudhya said he would urgently like to boost the number of new listed companies on the SET. He has assigned relevant departments to come up with new incentives or fast-track procedures, for greater convenience in newly listing.

Companies listed on the SET this year will also benefit from tax privileges and are expected to start trading next year.

Patareeya said the SET would negotiate with listed companies that wished to delist from the SET because of their tax privileges expiring. She said the SET would like them to remain on the bourse.

The SET will not introduce any new privileges for newly listed companies but will speed up a fast-track scheme in the fourth quarter.

The SET recently discussed with the Listed Companies Association whether it would offer special tax reductions to listed companies, with a free-float ratio of more than 40 per cent.

"This is a good idea, but we need to study the pros and cons before implementing it," Patareeya said.

Meanwhile, Patareeya said the SET's current regulations already covered listed companies and that there was no need to introduce new rules.

Her comments were a reaction to an earlier statement by Kaewsan Atibhodi, a member of the Asset Examination Committee, that the stock market was a "channel of fraud".

"There are currently enough regulations," she said. "They are not too few compared with other markets, so we need no additional regulations."

Siriporn Chanjindamanee

 The Nation