More
private firms will list on the Cambodian and Laotian bourses next year,
their executives told media yesterday at the "Thailand Focus 2012"
conference in Bangkok.
Hong
Sok Hour, chief executive officer of the Cambodia Securities Exchange,
said yesterday that there was currently only one listed firm on the
bourse, with market capitalisation of US$140 million (Bt4.4 billion),
but five more were expected to list next year. Three of those firms are
state enterprises - two port facilitators and one telecom.
He said one-third of investors trading shares in the local market were foreign.
Dethphouvang
Moularat, chairman and CEO of the Lao Securities Exchange, said he
expected one firm to list on the bourse next year, Lao Telecom Co, which
is going to merge with Enterprise Telecommunications Lao. It will join
two firms already listed.
He
said Laotian investors preferred long-term plays. "They keep shares to
store their wealth to be handed down to their children."
Such
behaviour has made the market less liquid, he said. However, the
authorities do not want many local people to trade shares because of
high risks.
"We want them to learn first - let foreign investors engage in financial games," he said.
Meanwhile,
Stock Exchange of Thailand president Charamporn Jotikasthira said CK
Power Co, a unit of Ch Karnchang Group that is registered in Laos to
oversee projects there, was expected to list on the SET in the fourth
quarter of this year.
Overseas-listed
holding companies will be allowed to list on the SET from tomorrow
onwards, as a mechanism to promote overseas investment of Thai companies
ahead of the activation of the Asean Economic Community.
Charamporn said listing firms were also expected to raise more funds to expand their businesses in the country and abroad.
Aphinant
Klewpantinond, CEO of Phatra Securities, said fund-raising could be
done via other channels such as infrastructure funds, rather than equity
trading.
Le
Hai Tra, deputy CEO of Ho Chi Minh Stock Exchange, said it had signed a
letter of intent to join Asean's stock-market linkage platform.
Tran
Van Dzung, CEO of Hanoi Stock Exchange, said the two Vietnamese bourses
were in the process of merging into a single entity.
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