Thailand may introduce measures including dual-class shares and scrapping restrictions on share buybacks to revive investor confidence, according to a report in the Bangkok Post, citing Kittipong Urapeepatanapong, chairman of the Stock Exchange of Thailand (SET).
The move comes as Thailand’s benchmark stock index has declined around 14% since the beginning of the year, the worst performer in Southeast Asia.
Kittipong says the SET has sent an action plan for the proposed measures to the finance ministry. The proposals also include greater flexibility for corporate restructurings and mergers and acquisitions, and comprehensive legal reforms.
“The measures are expected to take effect within four months,” he is quoted as saying in the news report on March 10.
He says the bourse also wants the ministry to introduce measures to build an ecosystem that fosters startups, including creating a regional listing hub for high-growth industries such as healthcare, hospitality, medical devices and food.
He says the bourse has also asked the finance ministry to enhance tax benefits for long-term investments and strengthen enforcement powers.
Spokespersons for the SET and the finance ministry did not immediately respond to questions from Asia Asset Management.