SET will miss market cap target for 2023 ‘due to economic slowdown’

[rooster59]

SET will miss market cap target for 2023 ‘due to economic slowdown’

By THE NATION

 

Pakorn

 

The Stock Exchange of Thailand (SET) said this week that its estimated market capitalisation target of 150 per cent of gross domestic product (GDP) in 2023 will likely miss the target due to the slowdown in the Thai economy.

 

 

SET president Pakorn Peetathawatchai said: “This slowdown will affect the growth rate of registered companies, which used to be at more than 10 per cent on average annually. However, the growth rate could improve if more foreign investors are interested in net purchase of Thai companies’ stocks and increase their profitability.”

 

Meanwhile, Manpong Senanarong, SET senior executive vice president - issuer marketing, said that in 2020 the SET estimates market capitalisation at Bt550 billion. “Bt250 billion will come from IPO [initial public offering], while the other Bt250 billion will come from existing registered companies that raise additional funds,” he said. “This estimate was adjusted down from the 2019 tally when market capitalisation was Bt780 billion -- Bt380 billion from IPOs and Bt400 billion from companies’ fundraising.”

 

Regarding the SET's operational plan for 2020, the bourse president said it would focus on three main areas:

 

Grow with efficiency: Improving business operations by removing overlapping procedures and promoting one-stop service to registered companies, as well as expanding the network of business partners.

 

Grow with new opportunities: Connecting with capital markets both domestic and overseas, especially the CLMV group (Cambodia, Laos, Myanmar and Vietnam), as well as supporting fundraising opportunities of small and medium-sized enterprises and startups.

 

Grow with stakeholders and sustainable society: Improving the ease of doing business and measures to protect investors, as well as creating basic infrastructure for users of the stock market to help reduce the operational cost of businesses and industries.

 

Source: https://www.nationthailand.com/news/30380752

 

-- © Copyright The Nation Thailand 2020-01-18

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[legend49]

And who slowed the economy down? China and  Vietnam are showing over 6% growth for the year.

[Isaan sailor]

Regime has hitched their wagon to the ChiComs—so prepare for a downhill ride for SET and the Thai economy in general.

[rken2]

-china lies about it growth rate. Lol don't believe a word of it.