News Column

DTAC to delist from Singapore exchange

June 12, 2014

By Suchit Leesa-nguansuk, Bangkok Post, Thailand



June 12--Total Access Communication Plc, the operator of second-ranked DTAC, will delist from the Singapore Stock Exchange (SGX) by Sept 29 due to thin trading volumes.

The last day of trade in the Singapore market will be Sept 16.

The delisting will allow DTAC to streamline its compliance obligations, reduce its legal and compliance costs and re-direct business operations to save millions of baht per year, said Chavit Sangudomlert, head of investor relations for DTAC.

The firm listed on SGX in 1995 and on the Stock Exchange of Thailand in 2007.

Mr Chavit said the company's board of directors approved the voluntary delisting from the main board of the Singapore Exchange Securities Trading Limited (SGX-ST).

"The company's share volume in Singapore is only 0.3% of DTAC's total shares," Mr Chavit said. The rest of the trade is mainly invested in SET as the company is operated here.

As of May 16, DTAC's trade volume was 7.29 million shares in Singapore.

In 2013, DTAC's trade share volume in Singapore was reduced to 400,000 compared with 1.152 million shares on the SET. In 2012, the company held 1.6 million shares in Singapore and 1.652 million shares on the SET. Back in 2011, Singapore settled 9.1 million shares and the SET 1.634 million shares.

Moreover, DTAC has not and does not intend to raise capital through the issuance of new shares on the SGX. It intends to carry out any fundraising activities on the SET.

Mr Chavit said DTAC listed in Singapore because it thought it might not comply with SET listing rules as it had the same board of directors as United Communication Industry (UCOM), the major shareholder of DTAC at that time, which was also listed on the SET. However, DTAC decided to list on the SET after UCOM delisted.

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(c)2014 the Bangkok Post (Bangkok, Thailand)

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Distributed by MCT Information Services


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Source: Bangkok Post (Thailand)


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