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Effectiveness of corporate governance development
Following the ongoing efforts to promote concrete actions of corporate governance, SET has encouraged
listed companies to reveal their actions in accordance with the Corporate Governance Principles in the
annual reports. SET will use the operational results for corporate governance development among listed
companies in accordance with the international criteria and standards.
Dissemination of corporate governance knowledge
SET disseminated corporate governance knowledge to listed companies, investors and interested parties,
covering 20 areas in 2014, including Report on Directors’ and Executives’ Remuneration Survey of Listed
Companies, and Guideline for Remuneration Committee, etc. In addition, SET sponsored two training
courses on corporate governance for the Investment Banking Club andCompany Secretary Club with 160
attendees.
SET, in cooperation with the Thai Institute of Directors (IOD), has started the assessment of Corporate
Governance Report (CGR) by Thai listed companies since 2011, focusing on surveying and assessing
information disclosed by listed companies in different channels, such as the annual reports and annual
56-1 reporting form of the SEC, AGM meeting notices and websites, etc. Listed companies can also use
the survey results and feedbackto improve and develop their corporate governance activities.
During 2012-2013, the CGR results showed listed companies reported average scores of corporate
governance development at 77% and 78% respectively. These average scores decreased from 2013 scores.
The lower CGR scores were due largely to the revision of existing criteria and addition of the new ones
in 2014, in accordance with the ASEAN CG Scorecard. The score implied the level of corporate governance
development among the Thai listed companies.The average CGR scores among 550 listed companies in 2014
were at 72%, or at the “good” level.
At the ASEAN Capital Market Forum (ACMF), the capital market regulators of the ASEAN member nations
set a goal to lift corporate governance standard of listed companies in ASEAN to international scales.
They agreed to enforce the ASEAN CG Scorecard for assessment in 5 areas, which are the Rights of
Shareholders, Equitable Treatments of Shareholders, Role of Stakeholders, Disclosure and Transparency,
and Responsibility of the Board. The survey results in 2013/2014 selected the top 100 listed companies
with the highest market capitalization, and the Thai listed companies reported the highest average scores
at 75.39 % among the six participating nations for two consecutive years, up 8 scores from the 2012/2013
survey. They also marked the highest scores for Equitable Treatments of Shareholders area.
Corporate Governance Report (CGR) of Thai listed companies
ASEAN CG Scorecard Assessment