New Fetco chief vows to raise stock market's image

New Fetco chief vows to raise stock market's image

Voravan Tarapoom, the newly appointed chairwoman of the Federation of Thai Capital Market Organizations (Fetco), has set her sights on rebuilding the stock market's image so that it is regarded as an investment venue for all people, not a casino.

Voravan: Capital market open to all

Mrs Voravan, who is also chief executive of BBL Asset Management and chairwoman of the Association of Investment Management Companies (AIMC), will take over from Paiboon Nalinthrangkurn, whose two-year term ends tomorrow.

"I will build up the concept that the capital market is a place for all. I'd like to get rid of the image that those in the capital market are selfish and the exchange is like a casino," she said.

Fetco under her reign will focus more on the interests of society and the country as a whole rather than the capital market, she said.

It is among the private sector bodies that played an active role in the recent political crisis, while Mrs Voravan has clear-cut views on political issues and aggressively opposes corruption.

Fetco comprises seven organisations — the AIMC, Association of Thai Securities Companies, Investment Analysts Association, Thai Bond Market Association, Thai Investors Association, Thai Listed Companies Association and the Stock Exchange of Thailand.

Its mission has been to represent parties related to the capital market through systematic cooperation between the government and the private sector in order to formulate policies for the market's development.

Fetco will offer opinions and suggestions to state agencies on developing the capital market in terms of sustainable growth.

It has played a role in promoting and supporting the capital market in achieving good corporate governance by pushing management systems with transparency and fairness and urging listed companies to take social responsibility.

Fetco has put forward a plan for economic development to the ruling junta.

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