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Road shows in Mid-East more
successful than expected, says SET
Recent road shows by the Stock Exchange of Thailand (SET) to give investors
in the Middle East information on Thailand’s economic conditions at present
and its outlook produced a more positive result than expected, according to
SET Executive Vice President Santi Keeranant.
He revealed the exchange took road shows to Dubai and Abu Dabhi in the
United Arab Emirates, Doha in Qatar, and Kuwait City in Kuwait from October
10 to 16.
During the road shows, exchange officials met 18 institutional investors
with assets worth over US$500 billion under their management.
They include eight mutual funds, three Islamic banks, five commercial banks,
and two national wealth funds.
Santi said the exchange provided Middle Eastern investors with information
on Thailand’s economic conditions at current and its outlook, investment
opportunities and potential, product data which meets Islamic principles,
and financial instruments.
The road shows drew a more positive response than projected. It is a
starting point for expanding the institutional investor base in the Middle
East countries.
He said that institutional investors there prefer studying information
carefully and prudently before making an investment decision.
Key issues to which the investors paid attention and questioned most include
transparency, investor protection, and related taxes. (TNA)
Police arrest two suspects in stock rumor case
Police in Bangkok have arrested two people suspected of being
connected with spreading a rumor regarding the health of HM the King, a rumor
which sent the Thai stock market tumbling last month.
 Theeranun
Wiphuchanun, a former executive of a finance and securities company in
Switzerland was nabbed by the police at Suvarnabhumi Airport on her arrival from
a trip to Austria.
Theeranun Wiphuchanun, 43, a former executive of a finance and securities
company in Switzerland was nabbed by the police at Suvarnabhumi Airport on her
arrival from a trip to Austria.
She was arrested with a warrant charging her with feeding false information
through a computer system, which undermined Thailand’s national security or
which caused panic among the public.
If she is found guilty, she may face a five year imprisonment and a maximum fine
of Bt100,000.
She said she translated that information from news of a Singapore-based news
agency and posted it to an online newspaper website to give a fact to stock
traders and internet surfers. No one hired her to do so, she added.
“I posted it in the evening after the stock tumbled. I just wanted to tell
people why it happened,” she said.
She was detained at the office of the Economic and Cyber Crime Division, and her
notebook, camera, and mobile phone were seized, said Deputy Commissioner of the
Central Investigation Bureau Pol. Maj-Gen. Panya Mamen.
The other suspect, Katha Pajariyapong, was arrested at a building in Silom, a
business district in downtown Bangkok. He posted a message on that topic on the
same website.
Meanwhile, Finance Minister Korn Chatikavanij convened a meeting Monday with
executives from the Securities and Exchange Commission (SEC) and the Stock
Exchange of Thailand (SET) to follow progress of the probe on stock speculation
and manipulation related to the rumors.
The rumors over HM the King’s health began October 14 and the stock index
tumbled 2.04 percent, while the following day, it was down 5.3 percent as a
result of massive sell orders from foreign investors in a panic fuelled by
rumors.
His Majesty King Bhumibol Adulyadej has been in hospital since September for
treatment of a lung infection.
He made a public appearance in October, visiting a royal monument in the
hospital compound. He has recovered well, according to the statements of the
Royal Household Bureau. (TNA)
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