On the ill-discrimination to Expats here, on getting their free warrants. NVDR Holders.

PaulRen's picture

I complained/mentioned this new contentious issue to a couple of brokers here -and the SET (see below) regarding this new trend emerging on excluding NVDR holders to get their entidelt free warrants, if/when a company has such an offering.  As was the case lately with DEMCO, BRR and RML, from what I know and there may be others?  If you know of others pls tell me.    Mkt. officers,  which I mentioned this, always answer, "well its up to the individual company".  To which I respond, no its their financial advisor which is likely recommending this, and the SET lame-duck is ok with this.  As was SET reaffirmed (see below mails, and then how I just answered today).  I find this appalling as foreigners/expats, which live here and so follow Thai law, not some foreign vague rules when they no longer live there!

Dec 26, 2023, 5:53PM SETContactCenter <SETContactCenter@set.or.th> wrote:

Dear Sir,


Thai NVDR Company Limited (Thai NVDR) reserves the right not to issue NVDR for any cases or conditions which cause Thai NVDR to comply to any foreign laws, based on listed companies' announcements.


Please be advised accordingly.


Best  regards,

Rungruang Th





Feb 15, 2024, 5:42 PM (17 hours ago)



to me
Dear  Sir,
The right issues of new shares depend on each issuer company's policy in setting forth the conditions or restrictions relating to investors in order to prevent illegal cases in foreign countries, which apply to every shareholder.
Also regarded as one of the shareholders, Thai NVDR has responsibility for giving rights to investors as specified in Thai NVDR's prospectus.
Best  regards,
Rungruang Th

My last Answer back to SET,  K. Rungruang, as previous point/issue/question with Expats living here in permanence, was not even addressed:
Dear Sir,
OK, understood.  As you now re-affirm.  Re: listed companies can just exclude foreigners getting their free warrants due entitlement.
So the SET will do nothing to its listed firms to prevent this flagrant discrimination against foreign expats living here permanently who then invest in Thai stocks -and not get their entitled warrants, "shareholder sweeteners".   

Yes even to those who are living here, pay taxes here and/or retired here, in permanence.  Yet, this ill-practice is happening here now -with the SET sanctioning it seems,  as you just affirm again.

So please ask your superiors how would Thai people feel, who legally live overseas, and then cannot get their (overseas) shareholder rights from their country of residence, only because they are Thai citizens. Legalities, just do not play a role when foreigners live/reside here full time! Sir.

But it is what it is and as you reaffirm.  If we see this new trend persisting in more and more frequency: I will post so at my front page this flagrant Thai stock discrimination, versus Foreigners.  And so state my professional view for Thai expats living here to no longer invest in the SET/MAI.  Due to this reason which really has no legal standing in my view and yet its indifference/acceptance by the SET & its mgt.   As I will say, is an unwarranted discriminatory practice to foreign investors living here.

Best Regards,
Paul Renaud.
Consider:   Again: Foreign investors here, which have a proper Thai address and live here permanently, are under the laws of Thailand -and not some foreign country!