Thailand to set up long-term equity fund to support flagging market

2 Oct 19:49 Key points summarised by AI

Thailand's government plans to establish a long-term equity fund to bolster its stock market, currently Asia's worst-performing, by mitigating selling pressure.
The fund will likely integrate with an existing environmental social governance (ESG) fund, providing investors with tax breaks for five years.
This initiative aims to incentivize investors to retain their holdings, thereby slowing down redemptions from long-term funds and stabilizing the market.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.