Thailand has the potential to be a financial hub in Asean, especially for Cambodia, Laos and Myanmar, which need funds to drive their growth, Twin Pine Consulting Co managing director Adisorn Singhsacha said.
The company is also advising the governments of Myanmar and Cambodia to do the same to support their infrastructure investment plans.
In his view, Thailand could eventually rival Singapore and Malaysia as a source of financing for Asean countries.
Adisorn established Twin Pine Consulting in 2011 as a financial advisory firm. The company has focused on advising governments and the private sector in this region to raise capital in the Thai market.
“We saw strong demand for funds from Asean countries, especially Laos, Myanmar, Cambodia, Indonesia and Vietnam, to develop their infrastructure. We also saw the business opportunities for Thailand’s capital and financial markets to be sources of funds to support them. As a result, we decided to do this business, starting in Laos,” he said.
Two years after its establishment, the company successfully advised Laos’ government to issue debentures worth Bt1.5 billion in Thailand’s capital market in mid-2013, then issue Bt3 billion worth at the end of last year, and make the final Bt5.09-billion issue last month.
“We aim to advise Asean countries, especially Laos, Cambodia and Myanmar, both the government and private sectors, to issue debentures in the Thai capital market worth between Bt12 billion and Bt20 billion a year from 2015 onwards,” he said.
This is a challenge for Thailand’s capital and financial markets to transform from borrowers to creditors in this region. It is also the way to have the best relationship with neighbouring countries, he said.