Sir,
I saw your commentary of Sept 13 about the Thai bond market citing that the quality of disclosure documentaton for bond offerings is generally poor and the regulatory requirements are lax.
As we are directly involved with making the regulations in this area, I would like to clarify that most of the bond offerings that you see are private placements among institutional investors supposedly. These investors should have sufficient ability to protect themselves and demand for full and fair information. Therefore, in most jurisdictions, including Thailand, these offering are exempted from
disclosure rules.
The issue that you commented as having had better disclosure are Shin Satellite, which...
