SEC Secretary-General Ruenvadee Suwanmongkol said that the SEC emphasizes the role of the capital market in providing reliable and sufficient information to support investors' decision making. Research reports produced by professional investment analysts are a source of important information that investors can use to make well-informed investment decisions for long-term financial goals.

However, most research reports currently available in the capital market mainly cover large-cap stocks. To increase the quantity and quality of research reports on listed companies, the SEC Board Meeting No. 5/2019 on May 10, 2019, therefore, approved this joint project with the SET whereby IAA will be the project manager and qualified securities companies will produce more securities research reports on small-and medium-sized firms, especially those that have never been covered before. This collaboration will not only promote greater research coverage for investors' benefits, but also create more opportunities for professional newcomers and the securities analysis business, and support the sustainable growth of the Thai capital market as a whole.

SET President Pakorn Peetathawatchai emphasized SET's vital role in providing education and expanding quality investor base. The industry needed analysis reports on medium to small-cap stocks and other quality securities. Therefore, SET in collaboration with SEC and ASCO, has worked on this project, aiming to achieve three objectives, consisting of Coverage: to expand the analysis on interesting  securities that lack research papers, such as companies in Thailand Sustainability Investment Index (SETTHSI), the well-being related sector, other potential industries and stocks with strong fundamentals, among others; Quality: to promote quality analysis research papers and provide sufficient information for making investment decision; Accessibility: to publish analysis reports on different media platforms including SET's channels and alliances' to allow investors to access information conveniently by having information center for securities research papers and related marketing activities, as well as promoting such securities. For investor educational projects, SET will partner with IAA, SEC, and securities firms that have joined the project. This collaborative effort reflects how each party is committed to taking part to drive the Thai capital market toward sustainable growth.

IAA Chairman Paiboon Nalinthrangkurn said that it is stated in the criteria for this project that the stocks must have a market capitalization of over THB 3 billion, non-SET100, with an interesting theme and must have never been covered in any securities research papers by any research institute or by only one institute. IAA as project manager will select a qualified research team who will produce research papers in compliance with IAA guidelines, and analysis reports will be reviewed and determined by IAA to ensure the quality of the research papers, before submitting them via IAA Consensus. The research team from the participating securities firms to join the project must have a professional license with at least four analysts to conduct fundamental analysis papers to ensure the capability of delivering quality papers in the long run. Moreover, there must be a quality control process before releasing, while analysts must be IAA members in order to catch up with updated knowledge development and operational guidelines.

This extend research coverage project is expected to produce 100 research papers in three consecutive years, divided into 40 analysis reports in the first year and 30 analysis reports   in the second year and third year. In addition, there will be a quarterly update on each published securities and will be available on various media channels of SET, the SEC, IAA, research institutes, and securities firms that produce research papers.