SET Target 30 Trillion Baht Market Cap
in 2023, Under Nation’s One-stop Capital Market PPlatfor Strategic Plan.
31-1-2019 –Under the 2019-2023 strategic plan of Stock Exchange of Thailand (SET) to become Nation’s One-stop Capital Market Platform,
SET target 30 trillion baht market capital, accounted to 150% of GDP and 95 billion baht/day trade volume in the year 2023 compare with last year’s 56.4 trillion baht and this as of 30 January’s year-to-date 47.42 trillion baht market capital, which is accounted to 108% of GDP which is the 2nd rank in ASEAN next to Singapore, followed by the stock market of Indonesia, Malaysia, Philippines, Vietnam, Laos, Myanmar and Cambodia respectively.The target is expected to be achieved by SET transforming by its strategic and coming action plan.
The Stock Exchange of Thailand (SET) sets out the three-year strategic plan (2019-2021) under a theme of “Creating Partnership Platform to Drive Inclusive Growth” via four main strategies 1) Expand business activities; 2) Explore new opportunities with technology; 3) Reform regulations and streamline processes; and 4) Restructure business portfolio to slim down costs and broadening business opportunities for the entire capital market industry, aiming to boost efficiency and become Thailand’s one-stop capital market platform that enables for the country’s growth.
Furthermore, SET is committed to the capital market’s sustainable development by applying UN Sustainable Development Goals (SDGs)’s framework to achieve sustainable development, focusing on four goals which are the 10th goal on Reduced Inequalities; the 12th goal on Responsible Consumption and Production; the 13th goal on Climate Action; the 17th goal on Partnerships for the Goals.
SET President Pakorn Peetathawatchai stated in three years (2019-2021), that SET is poised to implement the strategic plan via four key strategies “Expand-Explore-Reform-Restructure” by improving working efficiency and diversifying into new businesses to make the capital market ‘Work” for everyone.
SET’s four-pillar strategy comprised of
1) Expand business activities: Increasing investor base in potential secondary provinces; educating retail investors on investment planning for retirement and investment tools; building a culture of investment through dollar-cost averaging (DCA) approach (continuose investment); developing the capital market’s standard common infrastructure (front – middle – back office); and facilitating data accessibility for capital market stakeholders;including
setting up financial knowledge platforms under partnership with the public and private sectors as well as media.
2) Explore new opportunities with technology: Scaling up to a full spectrum of digital transformation by creating an open utility platform, widening accessibility to mutual funds through “FundConnext” platform’s services
for cross-border fund distribution, interbank payment, online account opening, while connecting with international partnership to create business valuation for capital market, and preparing to build digital asset ecosystem.
3) Reform regulations and streamline processes: Initiating one-stop service platform inclusive of initial public offering (IPO), supervision, post-trade, sustainability development services, and expand services for other stakeholders in the future, in order to eliminate duplicate processes, creating flexibility, cutting down industry cost, as well as working with regulatory agencies to truly remove business operation obstacles.
4) Restructure business model: Focusing on providing value added to stakeholders in the capital market to sharpen competitive edge by identifying businesses into three groups, namely core business, new business & infrastructure development, and capital market development.
By the strategic plan, the action plan is now preparing and processing to be ready to proposed to SET Executive Board meeting that would be around the middle of February, such as One Stop Service facilitation systems for the listing company and investor, data adjustment to be machine readable, ready for the new demand changed of oversea capital fund, cooperate with SEC to reform the rule and regulation for better efficiency in developing ecosystems, including trading systems upgrade, in order to have more function and better cyber security., etc.
According Mr.Chaiwat Wiboonsawat SET Chairman of the executive board disclosed that the draft of Security and Exchange Act has passed the process of commissioner’s consideration and now waiting for urgent consideration of National Legitimacy Assembly to be soon enacted. According to the law, SET must be adjusted under the new condition to be compatible that need to make the intense serious plan.This year’s plan of SET will be leading to big changing in the next three year.
By the strategic plan the action plan is now prepare and processing to be ready to proposed to SET Executive Board around the middle of February, such as One Stop Service facilitation systems for the listing company and investor, data adjustment to be machine readable ready for oversea capital fund, cooperate with SEC to reform the rule and regulation for better efficiency and in accordant with the machine readable demand of oversea capital fund, including trading systems upgrade to have more function and better cyber security., etc.
According Mr.Chaiwat Wiboonsawat SET Chairman of the board disclosed that now the Security and Exchange Act has passed the process of commissioner’s consideration and now waiting for urgent consideration of National Legitimacy Assembly to be soon enacted. According to the new law SET must be adjusted under the new condition to be compatible that need the intense serious plan. This year’s plan of SET will be leading to the big changing in the next three year.
“Among total 11 members of SET’s board of director, there are only three former members remain working in the team, while the others eight members are new members with the modern digital experience to lead SET to be transformed by its reformation plan”said SET Chairman of the executive board.