Corporate Governance Development
ASEAN CG SCORECARDASEAN Economic Community - AEC
Ongoing efforts to achieve convergence of ASEAN countries to set up the ASEAN Economic Community (AEC) by 2015 are gearing towards a stronger economic and financial competitiveness, enabling investment environment and development of the future integrated capital market.
The Office of the Securities and Exchange Commission (SEC) has initiated the implementation plan of the ASEAN Capital Market Forum (ACMF) with aspirations to create the regional standard capital market principles and raise corporate governance practice of the ASEAN listed companies to international standards. It is envisaged such aspirations will enhance the visibility and the investment profiles of the well-governed ASEAN listed companies internationally.
The Institute of Directors (IOD) represents Thailand in the ASEAN capital Market Forum initiative. The ACMF aims to enable flows of foreign investments to top ranking ASEAN listed companies with respect to scores on business returns and good corporate governance. The ranking of top 50 listed companies will be determined by the ACMF.
The IOD has conducted a recent survey in February 2012 to identify the capacity of the ASEAN listed companies according to criteria specified by the Organization for Economic Co-operation and Development (OECD) and the International Corporate Governance Network (ICGN). IRPC has been closely following updates on the initiatives and working tirelessly to comply with the standards.