SET puts off roadshows

The Stock Exchange of Thailand (SET) is revising its business continuity plan due to the flood crisis and is awaiting the government's flood-prevention plan before going on roadshows abroad to restore investor confidence.

SET President Charamporn Jotikasthira said that for continuity, the exchange is revising all its plans to deal with the crisis. It has also postponed its planned roadshows due to the country's worst floods.

"SET has to postpone the planned roadshows for the rest of this year as we need clearer information, especially the government's flood-prevention plan for the next few years. We are waiting to see how long it takes for flood-hit manufacturers to stage a recovery. If they can make a quick recovery, confidence can be restored swiftly. Once all information is in hand, the authorities will organise roadshows to provide relevant information to foreign investors," Charamporn said.

After the flood waters recede, the SET plans to organise roadshows in world financial centers like Singapore, Hong Kong, London, Tokyo and New York. Other new targets include Australia, Milan in Italy and Scotland.

Irrespective of how the domestic economy would perform or the impact of the natural disaster on the earnings of listed companies, the SET needs to convey all relevant information consistently, Charamporn said.

Chanin Vongkusolkit, chairman of the Thai Listed Companies Association and chief executive officer of Banpu, said that listed companies should include floods and natural disasters in their plan for business continuity, to mitigate risks.

The association will revise its training course to prepare executives of listed companies for disasters and minimize losses, he said.

In a crisis, Banpu has its IT system in Jakarta, he said. The company also has a backup centre in Lampang where its employees can be relocated if all areas of Bangkok are flooded.