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Capital Markets
August 13, 2007

Thai bourse to rise if election is held this year
The Stock Exchange of Thailand (SET) is expected to increase if the draft constitution is approved in the national referendum this weekend and a general election is held late this year as planned by the interim government, according to SET president Patareeya Benjapolchai.

Local and feign investors are awaiting the outcome of the draft charter election and if it is approved in this Sunday's referendum,  then it is quite certain that the election will be held later this year which will be positive for the Thai stock market, said Mrs. Patareeya.

The election will definitely be held even if the constitution is rejected because the interim government will use a previous constitution to conduct the election, she said.

Foreign investors, she said, are watching whether the new government will continue to implement projects approved by the ousted government, particularly the mega-infrastructure projects. They want the new government to quickly implement the projects.

Some foreign funds, for example, those run by Japan, have not yet decided to resume investment in Thailand as they prefer to wait for an elected government, Mrs. Patareeya said.
The SET chief said she was confident that foreign funds which have curtailed investment would start investment again. TNA

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