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Posted Date: 21 May 2008
AIMC Board of Directors comprising directors who are members from the mutual fund, private fund and provident fund business groups, namely Mrs. Voravan Tarapoom, Chairperson; Mr. Teeraphan Jittalarn, 1st Deputy Chairman; Miss Araya Thirakomen, 2nd Deputy Chairperson; Mrs. Wiwan Tharahirunchote; Dr. Somjin Sornpaisarn; Mr. Boonchai Kiatthanavit; Mr. Hunsa Susayan; Mr. Jakkrit Hembandit; Mrs. Alisa Simaroj; Miss Duangkamon Phisarn, Secretary-General; and Dr. Angkarat Priabjariyawat, Independent Director, announced the results of the AIMC Board meeting no. 3/2008, significant resolutions passed at the meeting were approval of voting guidelines for shareholders’ meeting in support of corporate governance of listed companies, and establishment of a working committee for development of AIMC to be a Self-Regulatory Organization (SRO).
Mrs. Voravan Tarapoom, Chairperson, and the Board members announced the results of the Board meeting no. 3/2008 that the Board considered and approved “voting guidelines” for fund manager in all the three business groups, i.e. mutual funds, private funds and provident funds, in the voting at the shareholders’ meetings of the listed companies in which the funds have shareholding. This will promote and support the listed companies’ adherence to good corporate governance, covering key agenda brought for the consideration at the annual general meetings of shareholders and extraordinary general meetings of shareholders, such as approval of financial statements, appointment of directors, payment of special remuneration to directors, ESOP, appointment and removal of auditors, capital restructure, acquisition or disposal of core assets, connected transactions, etc. The voting guidelines can serve as a mechanism in protecting the rights and interests of the retail shareholders who make investments through mutual funds and provident funds. For private funds, these guidelines are applicable when the customers assign fund manager to be proxies to vote at the meetings on their behalf but they do not set any direction or guidelines for the voting. The Association will submit the voting guidelines to the SEC and have them posted at its website: www.aimc.or.th.
The Board meeting also resolved to appoint a working committee on the study of the framework for the development of AIMC to be a Self-Regulatory Organization (SRO) with Mr. Jakkrit Hembandit, Compliance and Ethics Director, appointed as chairman of the committee. The committee has been tasked with studying the feasibility of the upgrading of the Association to an SRO which will be in charge of monitoring and supervising member companies to ensure their best practice and transparency and fairness in their business operations under regulatory rules and criteria. To this end, study will be conducted on the appropriateness, strengths and weaknesses, availability of human resources required, and guidelines and timeframe for the development to being an SRO and the strengthening of its role toward international standards.
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