Thai bourse underlines its Digital Exchange, launching QR Code service for shareholders’ meeting documents

BANGKOK, December 20, 2018 ? Thailand Securities Depository Co., Ltd. (TSD), a

subsidiary of The Stock Exchange of Thailand (SET), rolls out a new electronic

system, enabling shareholders to access listed firms’ shareholder meeting

documents and annual reports via QR Code and URL to boost registrar services’

efficiency, facilitate shareholders’ access to information through their

smartphones or other electronic devices anytime, anywhere and help reducing cost

and paper consumption. This service will start on February 2019.

SET President Pakorn Peetathawatchai said that SET has been building and

integrating digital solutions to enhance processes and services for all

stakeholders in line with our vision “To Make the Capital Market ‘Work’ for

Everyone”. With Thai government agency for business registration services DBD’ s

recent approval for the electronic format for the first time, SET has promptly

developed a central system for listed firms to disseminate such information

electronically via QR Code and URL to shareholders and related parties. The new

system could reduce listed companies’ cost over THB 100 million (approx. USD 3

million) each year. This will also help organizations go green and reduce paper

consumption. This service will available from February 2019 onwards, in time for

shareholders’ annual general meetings (AGMs) next year.

Deputy Director-General of the Department of Business Development (DBD), under

Ministry of Commerce, Lalida Jivanantapravat said that under DBD’s policy to

facilitate businesses and general public with timeliness and in line with the

government’s digital economy policy, DBD has introduced additional channels to

make these submissions possible in electronic format. The collaboration between

DBD and SET helps promoting public companies’ competitiveness, being an

important foundation for the Thai capital market’s long-term development in

supporting Thailand to completely transform into a digital economy.

Thai Listed Companies Association Chairwoman Oranuch Apisaksirikul said that DBD

has always been instrumental in the development of corporate governance for

Thai businesses. With 4.5-5 million shareholders of listed firms out there,

organizing each shareholder’s meeting is an essential responsibility for listed

firm and it has an economic cost. The cooperation between DBD and SET is

considered a big step that really benefits both listed companies and their

shareholders while helping push the Thai capital market up to another level.

Source: Royal Thai Government

Post Author: thailandmirror.com