Never before has Thailand's corporate flag been flown so prominently abroad, in view of recent high-profile takeovers of foreign firms by local titans such as ThaiBev and CP Group. But now, the country's largest-ever domestic takeover deal may be sending the wrong signals.
CP All's US$6.6 billion purchase of the cash-and-carry Siam Makro _ 64% owned by Dutch conglomerate SHV Holdings _ was characterised by share price gyrations that challenge prudential and regulatory standards of the Stock Exchange of Thailand.
If Thailand wants to join the big league of capital markets, with Hong Kong and Singapore as benchmarking peers and competitors, its authorities, laws and enforcement need stiff upgrading.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.