SET/listed firms for social contribution

Editorial staff

The Stock Exchange of Thailand (SET), in collaboration with the Board of Investment (BoI), announced the launch of its initiative on "Empowering Listed Companies’ Contribution to Community and Society" project.

This initiative aims to encourage listed companies to actively contribute to the betterment of society by supporting the Foundation for the Crown Prince Hospitals in enhancing public health services. The initiative commemorates His Majesty the King's 6th Cycle Birthday Anniversary on July 28, 2567. Participating companies will also be eligible for incentives under the BoI's measures.

SET chairman adjunct professor Kitipong Urapeepatanapong said that SET, as one of the capital market organizations driving the country's sustainability goals and developing the capital market for the benefit of all sectors, has launched the "Empowering Listed Companies’ Contribution to Community and Society" project. This initiative is a collaborative effort with capital market partners, government agencies, and social sectors.

Under the initiative, SET plays a crucial role in connecting businesses, including companies listed on both SET and Market for Alternative Investment (mai), to participate in the project and support the Crown Prince Hospitals. This initiative aims to enhance healthcare for people in remote areas, providing them with better access to medical treatment. The project has been initiated to express loyalty and gratitude to His Majesty the King on the auspicious occasion of his 72nd birthday celebration on July 28, 2024.

BoI deputy secretary general Suthiket Thatpitak-Kul said that the investment promotion measures for community and social development aim to support capable private sector entities in enhancing their role in developing and elevating the quality of life for grassroots populations across various areas. This initiative seeks to strengthen communities and foster self-reliance.

Interested private sector organizations can collaborate with local entities, as specified by the BOI, to implement community and social development projects in various domains. These include advancing the agricultural sector, addressing recurring drought and flood issues, enhancing community products, promoting community-based tourism, improving education and public health sectors, resolving environmental issues in communities, or reducing PM 2.5 dust in forest and agricultural areas. BOI-promoted projects will receive a three-year corporate income tax exemption on existing business income, capped at 120 percent of the actual investment made in supporting local organizations.

For projects already receiving promotional privileges with ongoing corporate income tax exemptions, an additional corporate income tax exemption will be granted, also capped at 120 % of the actual investment made in supporting local organizations.

The Foundation for the Crown Prince Hospitals Board and secretary general Wanchai Sattayawuthipong said that this medical equipment support project will raise the capabilities of 21 Crown Prince Hospitals located in remote border areas far from urban centers. These state-of-the-art medical devices will help treat more patients effectively, cure diseases, and save more lives. This initiative is a collective effort to do good in honor of His Majesty the King on the auspicious occasion of his 72nd birthday anniversary.

For listed companies participating in the "Empowering Listed Companies’ Contribution to Community and Society" project and seeking the BOI promotional privileges, the following conditions set by the BOI must be met: The minimum investment for projects supporting the Crown Prince Hospitals or local organizations, as specified by the BOI, must not be less than 5 million baht (approx. US$ 138,007) (excluding land costs and working capital). Companies can divide their support among multiple local organizations within a single promotion application, with a minimum support of 500,000 baht per organization.

The project must be completed according to the approved plan within three years from the date of issuance of the promotion certificate or the date of project amendment approval, whichever applies. However, this period must not exceed the duration of the corporate income tax exemption benefit.