The Stock Exchange of Thailand (SET) will continue to help Lao PDR set up a capital market. SET is, for example, assisting their Securities Market Establishment Committee deepen its understanding of capital markets. The Laotian executives will participate in more SET-organized training before establishing an over-the-counter (OTC) market in Q3/2009, with an exchange expected to start operating in Q3/2010. Thai securities firms will be able to join Laotian companies to do business there.
“SET held training for Lao PDR’s team during February 10-20, 2009 to create understanding in the role, importance and operation of a capital market. This is the third cooperation between SET and Lao PDR, as SET trained executives from Laotian state-owned enterprises and other firms for potential listing on the listing processes in September and November 2008. This action comes under the MOU signed with Bank of Lao PDR to share and exchange knowledge on founding their bourse, which will help strengthen the Indochinese capital market, noted SET’s Chief Market Officer, Issuer & Listing, Vichate Tantiwanich.
The Securities and Exchange Commission (SEC) helped provide capital market specialists to draft course contents, while Kim Eng Securities (Thailand) PLC, and TISCO Asset Management Co., Ltd., provided opportunities to visit their sites, giving useful experience to the participants.
“The training was very satisfying, as it helped executives who are establishing an exchange receive significant and beneficial information. We will be able to apply this training in starting an over-the-counter market this year and full exchange within October 2010,” said Mr. Dethphouvang Moularat, Assistant to the Governor, Bank of Lao PDR, and President of the Securities Market Establishment Committee.
“Lao PDR will support Thai securities firms who are interested in doing business in Laos. They will have opportunities to join with Laotian companies, and SET will advise on choosing joint-venture partners to support business between the two countries. Moreover, SET will support and advise listing candidates on document preparation, selection of financial advisors and underwriters, as requested by Lao PDR. This assistance will help make the listing processes smooth and develop a firm international relationship,” disclosed SET Group Head, Issuer & Listing Department, Chanitr Charnchainarong.
Lao PDR would like to have selected Laotian executives and officers attend additional training at the SEC and SET this year. They are also interested in managing training courses, such as the Certified Modern Investment Professional 1 (CMIP 1) program, which covers every aspect of professional investment; the Thai securities licensing program, and e-learning to develop other personnel to be ready for the inauguration of their exchange. SET and the Education Learning Center of the Capital Market Development Fund will consider supporting these proposals. In addition, the Lao PDR management team is also interested to SET marketing activities, e.g., SET in the City and roadshows.
For more information, please contact Public Relations Unit, the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kanokwan Khemmalai Tel: 0-2229-2048 /
Panitee Chatpolarak Tel: 0-2229-2792