MAI call for more auditors

MAI call for more auditors

The shortage of auditors and financial advisers has led to slow growth in new listed companies, says Prapan Charoenprawat, president of Market for Alternative Investment (MAI).

Mr Prapan said the market had seen growing demand for companies to list on the bourse because listed firms have successfully raised funds through their issuance of initial public offerings (IPOs) and other financial tools.

The market, however, can only accommodate a fraction of them due to limited resources.

"It's not just a lack of financial advisers and auditors, we've also fallen short of stock analysts who can cover MAI listings, resulting in a lack of investor confidence," he said.

There are 100 companies that have shown an interest in listing on the MAI, said Mr Prapan, although the exchange can handle a maximum of 20. He added the remaining 80 could appoint a financial adviser.

To tackle problem, the MAI has collaborated with its parent, the Stock Exchange of Thailand, the Securities and Exchange Commission and the Federation of Accounting Professions to find a way to tackle the human resource shortage problem.

A solution plan will include both short- and long-term components.

The plan will need to be sent to the Market Committee, as some elements will require government support.

Mr Prapan said the problem cannot be solved in the short term, though they will cooperate with universities to boost related educational programmes, while capital markets will be a source of aid, including scholarships and professional training.

Meanwhile, ASN Broker is set to become the third MAI listing this year, appointing KGI Securities as its leading underwriter, along with two other co-underwriters, Finansia Syrus and Trinity, for a 30 million baht IPO with shares priced at six baht each. The company is expected to list on the MAI on May 12.

Do you like the content of this article?
COMMENT

Man hit, killed by pick-up in Kalasin

KALASIN: An unidentified man was killed after being hit by a pick-up loaded with cargos while crossing a road in Yang Talat district of this northeastern province early on Sunday, police said.

10:30

Seach launched for Polish tourist, Thai woman missing in the sea off Phuket

PHUKET: A search has been launched for a male Polish tourist and a Thai woman who went missing while kayaking in the sea off this southern resort province on Saturday afternoon.

10:00

Time to end war on city's vendors

The Bangkok Metropolitan Administration (BMA) has reaffirmed its tough stance on sweeping vendors off city pavements by Dec 31, denying previous media reports it would allow vendors back but with certain restrictions. Such a harsh policy will see the capital in tumult.

07:01