Dr. Pichit Akrathit, President, MFC Asset Management PLC ...

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Dr. Pichit Akrathit, President, MFC Asset Management PLC ...

  1. 1. Discussion on Intra - and Inter - Regional Financial Development - Opportunities and Obstacles Pichit Akrathit, Ph.D President, MFC Asset Management PLC, Thailand   Lert Wanalai Ballroom, Swiss Ô tel Nai Lert Park July 4, 2006
  2. 2. Intended for MFC Asset Management Plc.’s client use only. Private and Confidential. <ul><li>Introduction </li></ul><ul><li>Discussion focused on “Portfolio Investment” </li></ul><ul><li>Portfolio Investment as factor of production </li></ul><ul><li>Gain from trade  gain to factor of production </li></ul><ul><li>More trade  need more investment </li></ul><ul><li>Obstacles to investment  obstacles to trade </li></ul>
  3. 3. Intended for MFC Asset Management Plc.’s client use only. Private and Confidential. <ul><li>Issues on Supply </li></ul><ul><li>Limited number of securities/projects </li></ul><ul><li>- Economy of a country is too small </li></ul><ul><li>- Islamic financial requirement </li></ul><ul><li>Size of business is too small </li></ul><ul><li>- High investment cost </li></ul><ul><li>- Low liquidity </li></ul><ul><li>Remedy </li></ul><ul><li>- Expanding to regional investment </li></ul><ul><li>- Expanding to new asset class with high return </li></ul>
  4. 4. Intended for MFC Asset Management Plc.’s client use only. Private and Confidential. <ul><li>Issues on Demand </li></ul><ul><li>Limited investor participation </li></ul><ul><li>- Awareness of business opportunity is low </li></ul><ul><li>- Limited investment information available </li></ul><ul><li>- Limited investment knowledge </li></ul><ul><li>  Remedy </li></ul><ul><li>- Education & research cooperation </li></ul><ul><li>- More PR & Advertising </li></ul>
  5. 5. Intended for MFC Asset Management Plc.’s client use only. Private and Confidential. <ul><li>Issues on Infrastructure </li></ul><ul><li>Lack of business partnership: </li></ul><ul><li>- Sharing risk </li></ul><ul><li>- Supporting business opportunity research </li></ul><ul><li>- Supporting business-plan execution </li></ul><ul><li>Remedy </li></ul><ul><li>- Matching fund </li></ul><ul><li>- More meetings/conference </li></ul>
  6. 6. Intended for MFC Asset Management Plc.’s client use only. Private and Confidential. <ul><li>Issues on Infrastructure (Cont.) </li></ul><ul><li>Lack of supportive regulations </li></ul><ul><ul><ul><li>- Example: - Company limit </li></ul></ul></ul><ul><li>- Minimum number of unit-holders </li></ul><ul><li>- Maximum investment per unit-holders </li></ul><ul><li>- Foreign limit </li></ul><ul><li>- Central control </li></ul><ul><li>Remedy </li></ul><ul><li>- Having regulators as partnership for development </li></ul><ul><ul><ul><li>- Meeting of regulators to fix rules </li></ul></ul></ul>
  7. 7. Intended for MFC Asset Management Plc.’s client use only. Private and Confidential. <ul><li>Issues on Infrastructure (Cont.) </li></ul><ul><li>Some technical obstacles </li></ul><ul><li>- Knowledge on Islamic financial requirement </li></ul><ul><li>- Shariah board </li></ul><ul><li>- Payment & settlement </li></ul>
  8. 8. mfcfund.com Ground Floor & 21 st – 23 rd Floors, Column Tower 199 Ratchadapisek Road, Klongtoey, Bangkok 10110 Tel: (66) 2 649 2000 Fax: (66) 2 649 2111

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