Bangkok Post, Thailand, Insider Column.

Aug. 2--Amaret Sila-on has a bit of advice to pass on to the person who succeeds him as chairman of the Stock Exchange of Thailand: think twice before you consider sacking the current president.

The hounds have been baying for the head of Vicharat Vichit-vadakan in some corners of the investment community. They complain that he's come up short when it comes to developing the local market and stimulating a revival of interest in equities.

But look around the region, cautions Mr Amaret: if Mr Vicharat has to go, then surely he would have lots of company in the unemployment queue.

"I don't understand why many people like saying that the Thai stock market is bearish and we need changes in the SET's presidency," Mr Amaret says.

"If we look at only one factor to judge Mr Vicharat, it's not fair to him. Many bourses in this region would have to change their presidents because they're bear markets."Chavalit Thanachanan, a former central bank governor and currently chairman of Bank of Asia (as well as this company), has been tipped to succeed Mr Amaret.

The outgoing chairman also likes to tell doubters that the SET is not as puny or sluggish as some people like to make out. He produces some statistics -- trading turnover on the SET was US$2.43 billion in June compared with US$1.08 billion in Kuala Lumpur.

"The market capitalisation of the KL stock market in June was double that of Bangkok, which stood at $342.62 billion, but our trading turnover was relatively higher."Looking back on his four-year term as chairman, Mr Amaret says he's been well satisfied with his work. He points to a wider investor base, improved governance among listed companies (well, some of them) and restructuring the SET's organisation to accommodate future corporatisation.