Thai bourse’s New York roadshow received great attention

Source: Thai Pr. Net
28/09/2010

The Stock Exchange of Thailand’s (SET) New York roadshow held on September 24 received great attention from over 50 foreign institutional investors, as the SET index is one of the world’s fastest-rising and good operating performance of its listed companies.

“In addition to SET presentation, PM Abhisit Vejjajiva also participated in the session to present information and answered the questions of leading foreign institutional investors. The roadshow was organized by Goldman Sachs and the Quant Group in addition to SET,” revealed SET President Charamporn Jotikasthira.

“The institutional investors paid great attention to Thailand’s economic development and political situation, particularly on the issues that Thai economy was not affected by political incidents, as shown from SET Index’s fast-rising rate, which is now among the world’s highest and listed firms’ good operating performance. They were also very attentive to the government’s policies to stimulate the economy in the short and medium term, also the benefit Thailand might receive from joining ASEAN economic integration, which will become effective in 2015. This roadshow was the second consecutive year that Prime Minister Abhisit has met institutional investors at an event organized by the SET, which received great attention from investors,” said Mr. Charamporn.

PM Abhisit said that the Thai economy is showing continual signs of recovery, as Thailand depends more on newly-emerging economy, therefore, it was not very strongly affected by the economic recession in highly-industrialized counties. In addition, PM Abhisit forecast that the country’s economy should recover within 12 months, due to increasing private and public domestic investment. Moreover, foreign investors also paid attention to the Thai baht’s strength, which might affect the country’s economy, as well as legistration concerning 3G auction.

“Foreign investors’ interest in the Thai capital market continued to increase, reflecting in the asset under management of MSCI Thailand Investable Market Index Fund, the largest NYSE –listed ETF fund with investments in Thai stock. The assets under management of this fund have risen 6-fold within the past 12 months, or THB18.00 billion (approx. USD580.64 million) as of end-September 2010 from THB3.20 billion (approx. USD103.23 million) in September a year ago, showing Thailand’s potential and attractiveness among foreign investors,” added Mr. Charamporn.

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