Securities and Exchange Act to undergo revision by Thai Finance Ministry

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Securities and Exchange Act to undergo revision by the Finance Ministry

BANGKOK, 24 November 2014 (NNT) - The Finance Minister has announced he will call back the new draft Securities and Exchange Bill for a review again in a bid to make it more up-to-date with the current situation.

Finance Minister Sommai Phasee declared that he is ready to review the draft bill on Securities and Exchange which is now under a review of the Council of State. According to the minister, the revision is aimed at strengthening the Thai stock market on a long term and in response to the opening of the ASEAN Economic Community (AEC).

Regarding the case where investors could no longer use the privileges of long-term equity funds (LTFs) for their tax deductions in 2016 onwards, Mr. Sommai said that the issue has garnered a lot of public interest. He is currently considering whether the privileges could continue to be applied and will present his conclusion by March 2015, as it would greatly encourage investment.

Meanwhile, the chairman of the Investment Analysts Association Mr. Paiboon Nalinthrangkul, spoke about the Thai stock market trend for 2015. For the first half of the year, Mr. Paiboon predicted that the market would not have a high trading volume. Investors are more likely to observe the government’s progress in reforming the country before they actively trade in the market, he said.

During the second half of the 2015, however, Mr. Paiboon predicted that more investors should be drawn into the market as the country is entering into a process towards the general elections. The SET Index is expected to grow by 5-10 percent next year with no higher than 1,700 points due to a slow recovery in the Thai economy.


-- NNT 2014-11-24

[Nuddy]

These guys are just changing the rules so they can take more baht home.