The Transport Ministry has asked Thai Airways to revise its investment plan to establish the low cost airline Thai Tiger Airways, citing lack of clarity in certain details. Permanent Secretary for Transport Supoj Saplom said his ministry has looked at the investment plan to set up the budget airline Thai Tiger Airways by Thai Airways or THAI, and has decided to demand the national airline to revise and resubmit the plan. The plan was submitted by THAI’s Executive Vice President for Strategy and Business Development Chokchai Panyayong on January 10.
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Proposal to Launch Thai Tiger Airways Sent Back for Another Revision
For 2009 as a whole, nonetheless, real GDP fell 2.3 percent despite a pick-up in consumption in the fourth quarter, external demand will be the main contributor to growth in the near term.
While the Thai government is aware of the need for these reforms, political uncertainties have made it more challenging to pursue them
‘‘The bigger Thai companies going on international road shows still stop in the US, Europe, Hong Kong and Singapore. But a few are also beginning to go to China and the Middle East as well,’’ Mr Wood said.
Mr Pathom noted that past a certain level of market capitalization, investors appear to take a different view on valuations.
Despite the failure of the BSE, the concept of an orderly, officially supported securities market in Thailand had by then attracted considerable attention. In this regard, the Second National Economic and Social Development Plan (1967-1971) proposed, for the first time,
a plan for the establishment of such a market, with appropriate facilities and procedures for securities trading.
In 1969, as recommended by the World Bank, the government acquired the services of Professor Sidney M. Robbins from Columbia University to study the development channels of the Thai capital market. Professor Robbins had previously served as Chief Economist at the United States Securities and Exchange Commission. The same year proved an eventful one for the Thai capital market, as the Bank of Thailand also formed a Working Group on Capital Market Development, which was assigned the task of establishing the stock market. A year later, in 1970, Professor Robbins produced a comprehensive report entitled “A Capital Market in Thailand”. This report became the master plan for the future development of the Thai capital market.