Bangkok, October 30, 2015 ? The Thai capital market is making progress toward adoption of the Organisation for Economic Co-operation and Development (OECD)?s revised Principles of Corporate Governance, which have been released at the 2015 OECD-Asian Roundtable on Corporate Governance in Bangkok today.  

Co-hosted by the OECD, the SEC, the Stock Exchange of Thailand (SET) and the Thai Institute of Directors Association (IOD) in partnership with the Government of Japan, the roundtable is a forum for discussing guidelines and cooperation in promoting good governance in Asia as well as keeping pace with relevant issues,
challenges and case studies from many countries in the region.

Starting from October 29, the two-day event has gathered more than 150 policy makers and delegates from public and private organizations in the regional and international arenas will run until tomorrow, October 30 at Dusit Thani Hotel.   

?Developing effective corporate governance practices is one of the first national priorities,? said SEC Secretary-General Rapee Sucharitakul. The Thai capital market in particular has made significant progress in the area. This includes the satisfactory results of the ASEAN CG Scorecard assessments which show that publicly listed Thai firms have efficiently met the ASEAN standards in the area of CG implementation and maintained the leading position in the region for the past three consecutive years. Such success has been made possible by the continuing collaboration of all parties involved.

In addition, the SEC has worked with the SET and the IOD to produce the CG Handbook, which contains guidelines for improving key areas of CG implementation by Thai listed companies. Several other projects have been initiated to promote tangible results such as the revision to Form 56-1 and Annual Report requirements to emphasize the importance of corporate governance practices and corporate social responsibility and the disclosure thereof.

The SEC also supports training to enhance knowledge and experiences of audit committees so that they will be able to perform duties more forcefully, and encourages listed firms to join the Anti-Corruption Organization of Thailand, a proactive initiative of the private sector. 

?The OECD?s revised Principles of Corporate Governance could ignite new developments in the Thai capital market. We need cooperation from stakeholders of all sectors in applying these latest guidelines in order to add value to businesses and enhance benefits for the public in line with the SEC vision to build a sustainable capital market for all, ? added SEC Chief. 

SET President Kesara Manchusree stated, ?SET has continuously promoted Thai listed companies to enhance businesses with good governance according to The Organisation for Economic Co-operation and Development or OECD principles which will further advance the their business toward sustainability. Consequently, Thai listed companies are currently recognized in the international stage for their commitment to progress and prime performance in corporate governance or CG. It?s significant that SET has pledged commitment to promote sustainability in the Thai capital market by encouraging listed companies to embrace environmental, social and governance (ESG) aspects in their business operations, more so as we are the first capital market in ASEAN to join the UN Sustainable Stock Exchange (UN SSE).

?This year OECD adjusted the CG principles by focusing on roles of committees consisting of auditing, risk management, remuneration including self assessment, while also encouraging institutional investors to consider CG as one of the investment criteria. These principles have already been in line with SET?s dedication¬ to promote CG practices among stakeholders to strengthen listed companies, the Thai capital market and the Thai economy as a whole,? added Kesara.

The OECD?s Principles of Corporate Governance are one of the most recognized benchmarks for developing and evaluating corporate governance practices in countries around the world. The revised version has incorporated the changing landscapes in the business sector and the global capital market to better support the drive to improve international corporate governance.