The Thai Government has been rather busy with policies, reforms, projects etc etc just look at the list of things announced in the past 2-3 weeks
First infrastructure investment, we have bidding terms for the southern double-track thats worth some THB 16.5 bn, then the Eastern Economic Corridor which spans the three eastern provinces of Chon Buri, Rayong and Chachoengsao which is supposed to be a leading economic zone for industrial, infrastructure and urban development and require some THB 300 bn of state funds for investments Second on increasing taxes they are mulling a fee hike for the chicken industry that would increase costs by some THB 480 mn a month for the CP, GFPTs of Thailand and of course the burden will be shifted to the consumer whom may end up paying +8% more for fresh poultry Thirdly, not to completely screw over consumes, they’ve also announced that some naughty telco’s (read: all of them) have been overcharging us poor citizens and that we should all be reimbursed Finally the Thailand Futures Fund has been approved by the cabinet with 10 billion baht as seed money for the 100-billion-baht Thailand Future Fund (TFF), which will invest in three road projects in the first stage. Of the 10 billion baht, 1 billion derived from Vayupak Fund 1’s dividends will be used to set up a revolving fund to guarantee a minimum return to TFF unit holders, while the remaining 9 billion will be raised from swapping shares held by the Vayupak Fund, said Ekniti Nitithanprapas, director-general of the State Enterprise Policy Office (Sepo).
So for a military government they aren’t doing too badly on pushing things through, although the question is of course, will anything be completely properly?
Corporate Governance Principles…..something that hit the Thai media quite strongly at the end of last year/beginning of this year in regards to the CPALL and MAKRO deal (looks like everyone has forgotten it as CPALL’s share price has rallied rather strongly). Folks such as Warren Buffet, Jamie Dimon, Larry Fink, Mary Barra are signing off on this recommended list of principles.

■ Truly independent corporate boards are vital to effective governance, so no board should be beholden to the CEO or management. Every board should meet regularly without the CEO present, and every board should have active and direct engagement with executives below the CEO level;

■ Diverse boards make better decisions, so every board should have members with complementary and diverse skills, backgrounds and experiences. It’s also important to balance wisdom and judgment that accompany experience and tenure with the need for fresh thinking and perspectives of new board members;

■ Every board needs a strong leader who is independent of management. The board’s independent directors usually are in the best position to evaluate whether the roles of chairman and CEO should be separate or combined; and if the board decides on a combined role, it is essential that the board have a strong lead independent director with clearly defined authorities and responsibilities;

■ Our financial markets have become too obsessed with quarterly earnings forecasts. Companies should not feel obligated to provide earnings guidance — and should do so only if they believe that providing such guidance is beneficial to shareholders;

■ A common accounting standard is critical for corporate transparency, so while companies may use non-Generally Accepted Accounting Principles (“GAAP”) to explain and clarify their results, they never should do so in such a way as to obscure GAAP-reported results; and in particular, since stock- or options-based compensation is plainly a cost of doing business, it always should be reflected in non-GAAP measurements of earnings; and

■ Effective governance requires constructive engagement between a company and its shareholders. So the company’s institutional investors making decisions on proxy issues important to long-term value creation should have access to the company, its management and, in some circumstances, the board; similarly, a company, its management and board should have access to institutional investors’ ultimate decision makers on those issues.
Bloomberg just realised 10 baggers exist in Asia, something that local participants in this region have known for years….
That’s impressive, considering the most recent four-year period has been marked by an abrupt slowdown in the region’s growth. For investors smart enough to steer clear of pump-and-dump schemes, the rewards can be many times what larger companies can provide. Only seven out of more than 1,700 Asian stocks with a market value of more than $1 billion eight years ago have been tenbaggers in the last eight years. Just one of those — South Korean drugmaker Hanmi Science — has also been at least a fivebagger in the past 48 months.

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