Bangkok:The Thai Investors Association has announced a revision to its criteria for evaluating the quality of shareholder meetings, with a focus on raising standards for online meetings and the disclosure of critical information.

According to Thai News Agency, the updated criteria require listed companies to respond to shareholder queries within seven days, with failure to do so resulting in a deduction from their evaluation points. This change aims to enhance investor rights and bolster confidence in the Thai capital market.

Mr. Mongkol Leelatham, President of the Thai Investors Association, emphasized that the revisions are part of an ongoing project to assess the quality of annual general meetings of shareholders, which the association has been overseeing for 21 years. The updated assessment form reflects the evolving investment landscape and aims to better serve individual investors.

The COVID-19 pandemic has prompted a shift toward online Annual General Meetings (AGMs), with nearly 60% of AGMs for listed companies on the Stock Exchange of Thailand now held online. However, this transition has not increased convenience for shareholders, as attendance has dropped below 2% from 5% pre-pandemic. To address these issues, TIA consulted with the Thai Listed Companies Association and the Securities and Exchange Commission to revise its assessment form.

Key revisions include adherence to standards set by the Electronic Transactions Development Agency for online meetings, provision for online identification verification, and the assignment of staff to assist with online participation. Shareholders can file complaints if management fails to answer questions, and the audit committee is required to express opinions on company performance.

The new criteria, set to be enforced in 2027, also mandate the recording of questions and answers in meeting minutes within 14 days and require audit committee and independent financial advisor approval for related party transactions. Shareholders representing more than 10% of a company have the right to raise objections. These measures are designed to support the growth of listed companies and foster sustainable confidence in the Thai capital market.