The Stock Exchange of Thailand (SET) is set to implement artificial intelligence tools to enhance its monitoring of listed companies in response to the increasing occurrences of corporate fraud.
According to SET President Asadej Kongsiri, the integration of AI will enable the exchange to more swiftly detect irregularities in share price movements and trading activities while promptly alerting investors. He expressed concerns that late warnings and delayed enforcement have contributed to declining investor confidence in the Thai stock market.
“There are around 300 news reports and alerts daily regarding potential misconduct by listed companies that we must monitor,” said Mr. Asadej, who took on the role of SET president on October 1. “AI will significantly alleviate the workload of our supervisory staff and enable quicker notifications.”
In light of several high-profile investigations, including fraud allegations against companies like Energy Absolute Plc and Stark Corp, authorities are intensifying efforts to enhance capital market oversight.
The benchmark SET index has been trailing behind most of its Southeast Asian counterparts after experiencing corporate scandals, concerns about illegal short selling, and episodes of political instability that affected investor sentiment earlier this year.
Mr. Asadej also reiterated the bourse’s initiative to introduce a new program aimed at boosting the valuations of listed companies and enhancing shareholder returns as part of its three-year strategy. The program will provide consultations and guidance to improve company operations and communication strategies to attract investor interest.
Additionally, the exchange plans to promote trading in bonds and carbon credits, providing investors with more options to diversify their investments.
