OPINION

Dire stock fallout

Re: "SEC plans tweak for better SME listing path", (Business, May 28).

The Securities and Exchange Commission (SEC) is right to be concerned about listing paths for small and mid-sized companies which want to list on the Market for Alternative Investment (MAI) or the Stock Exchange Thailand (SET). As this article points out, small- and mid-sized companies make up over half the Thai economy.

What is not mentioned is how the MAI index, as compared to the SET benchmark index, has dropped over 50% since the current government took over in May of 2014. What company wants to list in such a dire bearish environment given that Thai brokers barely ever publish research on MAI-listed companies?

While many keep claiming the Thai stock exchange has held up okay over the past five years, what is masked is how secondary shares (not just MAI listed) have endured a tremendous sell-off, many of over 50%. This along with Thai retail investors which in recent times have made up less than half the exchanges' trading volume compared to times past. All to the detriment of investors and the overall capital raising function the Thai stock exchange's key function.

This fallout has more than just dented the Thai economy. To address a dire issue, it must first be recognised and acknowledged.

Re: "Tourist tax could work", (Editorial, May 28).

I seem to remember on my frequent visits to Thailand and my subsequent departures, paying what was known as a departure tax which was levied at 500 baht for international passengers and 50 baht for domestic passengers. This was increased to 700 baht and 100 baht respectively. There was obviously a problem collecting these taxes at the point of departure and now the taxes are included in the price of a ticket and therefore can be collected a long time prior to departure.

According to the Tourist Authority of Thailand, the number of tourists estimated to visit in the coming years is set to increase substantially and obviously, the taxes generated will also rise. My question. Is it really necessary, taking into account the billions of baht already raised by taxes hidden from view, to load another tourist tax on unsuspecting visitors? Or is it the case that what the eye doesn't see the heart won't grieve?

Re: "Trump walks out on Democrats", (World, May 24).

I couldn't help but projectile snort my morning coffee through my nostrils when I read Donald Trump's assertion that, "I don't do cover-ups".

What more indications of cover-ups do we need beyond hush-money payments to porn stars and Playboy bunnies, refusal to release tax returns and financial records (something every US president since Richard Nixon has done), failure to provide notes or transcripts of discussions with Vladimir Putin at the mysterious Helsinki summit, personally dictating a misleading press statement about the true nature of the notorious Trump Tower meeting with Russians, refusal to disclose White House visitor logs or lists of members at Mar-a-Lago, blockage of the release of the full report of special counsel Robert Mueller on Russian interference in the 2016 election, resistance to allowing former White House Counsel Don McGahn to testify before Congress, concealing the deaths of migrant children in US custody, etc, etc.

The list could go on and on, but column space is short. Trump doesn't do cover-ups? Give me a break … Trump is the "King of cover-ups"!