The Stock Exchange of Thailand has been continuously helping listed Thai companies to have good governance. The starting point was in 1995 before the financial crisis, when it studied roles
of audit committee. After that, in early 1998 it issued a listing requirement indicating that effective from 1999 onwards, all listed companies have an audit committee . In that year, the SET also issued a guideline namely " Code of Best Practices for Directors of Listed Companies ". Two years later, the Good Corporate Governance Committee, consisting of representatives from a variety of professional organizations, disseminated a report on corporate governance . The report set a framework to be used by organizations in the Thai capital market for developing good corporate governance systems and practices. The Thai government designated 2002 as the "Compass for Good Corporate Governance" and set up the National Corporate Governance Committee (NCGC). In the same year, the Exchange also proposed fifteen principles of good corporate governance for listed companies to implement. Starting from the accounting period ending December 31, 2002, listed companies are required to demonstrate, in their annual registration statement (Form 56-1) and annual reports, how they apply the fifteen principles. If they choose not to apply any principle, they are required to provide justification.

In July 2002, the SET has established the Corporate Governance Center to help listed companies develop their corporate governance system. The Center provides consulting services to and exchanges ideas about corporate governance practices with directors and executives of listed companies, as well as those of firms preparing to be listed companies.