On Nov. 25, Thai SET revised rules to enhance supervision of funds.
Thai SET issued amended the criteria to enhance the supervision of trusts, real estate investment funds and infrastructure investment funds (all referred to as funds).
Plus amendments to the qualifications of listed companies under delisting review.
Follows Thai SEC Nov. 2024 revised regulations to align with Thai SET, see #233767.
Cautions
Adding caution signs for funds that have risks or events that may affect the financial position, business operations, liquidity of the fund, or demonstrate non-compliance.
Caution signs framework include business (CB), financial statement (CS), non-compliance (CC) and free float (CF), which also currently apply to listed companies.
The funds must conduct an initial public presentation within 15 days from the sign posting date and provide quarterly progress updates to unitholders and investors.
Thai SET amended its Regulations on measures for action in the event of a fund having an event that may affect its financial status and business operations accordingly.
Also revised the Procedures for trading, payment and delivery of securities accordingly.
Trading Resumption Criteria
Revised the trading resumption criteria for listed companies under delisting review.
Increased the net profit of the last four quarters and shareholder equity requirements.
Listed companies under delisting review must satisfy the enhanced requirements to validate their financial soundness and performance to qualify for trading resumption.
Effectiveness
The amendments will be effective from Jan. 1, 2025.
