Of the 65 firms listed on the Market for Alternative Investment (mai), 49 were rated for their degree of good corporate governance (CG). Forty, or 82% of the those rated, earned scores evaluations of "good" or better in the Thailand Institute of Directors (Thai IOD)’s Corporate Governance Report 2010. Lighting & Equipment PCL (L&E) received five logos (stars) and became the first mai-listed company to receive this rating by earning a corporate governance (CG) score of 90% or more.
"This report is supported by The Stock Exchange of Thailand (SET) and Securities and Exchange Commission (SEC). The average score of mai-listed firms gradually improved, from 57 in 2003 to 78 in 2010. L&E also received the Top Corporate Governance Report Award in SET Awards 2010,” revealed mai President Mr. Chanitr Charnchainarong.
The number of mai-listed firms receiving ‘very good’ (four logos, for a CG score of 80-89%), doubled from 9 firms in 2008 to 18 this year: ACAP Advisory PCL (ACAP), Business Online PCL (BOL), The Brooker Group PCL (BROOK), Chuo Senko (Thailand) PCL (CHUO), Dhanamitr Factoring PCL (DM), International Research Corporation PCL (IRCP), Thai Ha PCL (KASET), Master Ad PCL (MACO), Porn Prom Metal PCL (PPM), Pylon PCL (PYLON), Salee Industry PCL (SALEE), Simat Technologies PCL (SIMAT), Steel Intertech PCL (STEEL), Sherwood Chemicals PCL (SWC), TRC Construction PCL (TRC), Tirathai PCL (TRT), Unique Mining Services PCL (UMS) and Yuasa Battery (Thailand) PCL (YUASA). Firms receiving ‘good’ (three logos) , for a CG score of 70-79%, rose from 18 firms to 21: BGT Corporation PCL (BGT), Buildersmart PCL (BSM), CM Organizer PCL (CMO), Chu Kai PCL (CRANE), Demco PCL (DEMCO), Dimet (Siam) PCL (DIMET), Eternity Grand Logistics PCL (ETG), Focus Development And Construction PCL (FOCUS), Goldfine Manufacturers PCL (GFM), Interlink Communication PCL (ILINK), Multibax PCL (MBAX), Pico Thailand PCL (PICO), Star Sanitaryware PCL (STAR), Tapaco PCL (TAPAC), Thai Nondestructive Testing PCL (TNDT), Thai Nakarin Hospital PCL (TNH), Thai Plaspac PCL (TPAC), Three Sixty Five PCL (TSF), UBIS (Asia) PCL (UBIS), Unimit Engineering PCL (UEC) and Union Petrochemical PCL (UKEM).
“mai realizes the importance and necessity of supporting listed firms to understand and comply with CG principles. The SET continually organizes trainings and seminars about good CG practices, giving examples of firms that were successful in applying such practices, to inspire directors and executives of listed companies. In addition, the SET held training courses on information disclosure that is in accordance with CG practices. The results of the 2010 evaluation showed that preparation on CG has successfully met its objectives,” concluded Mr. Chanitr.
Currently, mai has a total a market capitalization of THB 52,217.27 million, while the mai Index closed at 261.47. Investors who are interested in the listed companies’ information should visit www.sec.or.th or call S-E-T Call Center at 0 2229 2222.