InfoQuest (August 06, 2019) -- Ms. Ruenwadee Suwanmongkol, director general of the Securities and Exchange Commission (SEC) of Thailand, H.E. Mr. Sou Socheat, Director General of Securities and Exchange Commission of Cambodia (SECC), and managers of the two partners, held a meeting in Phnom Penh, Cambodia on August 5, 2019. At the meeting, attendees discussed and exchanged ideas on the guidelines for co-developing capital market products, particularly on cross/dual listing and the issuance and trading of depository receipt (DR) in the two markets, seeking to promote investment and financing via the two countries' capital market, and propel the development of the capital markets.
The two agencies will upgrade the MOU on Cross/Dual Listing and DR Cooperation, which will enable Cambodian and Thai securities issuers to issue and trade securities cross border. It will also offer financing channels for relevant enterprises, help them with fund-raising to expand business, boost market fluidity, and enhance the width and depth of capital market cooperation between the two countries. The above-mentioned MOU is a supplementary to the existing MOU signed in 2014 between the two sides.
"The MOU to be signed includes: the establishment of a joint work group, and the formulation of national securities exchange rules for securities issuers. It is expected that the two sides will sign a new MOU in late September 2019 in Thailand. The MOU reflects the close bonds between the two agencies. Besides, the representative of World Bank to Thailand also attended the meeting, and expressed the willingness to offer support to cross-border capital market cooperation for the mutual interests of Thailand and Cambodia," said director general of the Securities and Exchange Commission (SEC) of Thailand.
At the meeting, attendees also agreed to deepen cooperation in personnel training and capacity building of securities market, and supervision of mutual fund and central provident fund, aiming for cooperation in the assessment of SECC's accession to the International Organization of Securities Commissions (IOSCO), noted Ms. Ruenwadee. The meeting also provided various learning events, such as a seminar in Cambodia or Thailand, a study visit to Thailand, the secondment of Cambodian personnel to SEC office for on-the-job training, and the sending of SEC experts to Cambodia for guidance. The two sides also agreed that greater efforts should be made for closer ties.
Source: InfoQuest, by Rachada Kongkhunthian / Wilawan, translated by Xinhua Silk Road
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