SET Restructures Tech Sector Into Four Categories for AI Era

The Stock Exchange of Thailand (SET) has adjusted its criteria for grouping technology stocks to reflect the new business era, separating digital infrastructure, technology services, and digital platforms from the previous categories, hoping to help investors compare stocks and assess valuations more accurately. At the same time, the Resources sector has been renamed Energy and Utilities, effective March 1, 2027.

Sarawit Krairiksh, Deputy Managing Director and Head of Market Operations at the Stock Exchange of Thailand (SET), disclosed that the technology business landscape in Thailand's capital market has grown and changed rapidly. From a previous focus on infrastructure businesses, it has expanded into hardware, software, digital platforms, and artificial intelligence (AI) businesses. However, the previous business grouping format could not clearly reflect the diversity of today's technology businesses.

This prompted the Stock Exchange of Thailand to adjust two industry groups to better reflect current business models by increasing the business categories in the technology industry group from two to four categories to accommodate diverse digital businesses: Electronic Components, Digital Infrastructure & Telecommunications, Technology Services & Solutions, and Technology Products & Digital Platforms. Additionally, the Resources industry group has been renamed Energy and Utilities, divided into two business categories: Fuels, and Electricity and Utilities. These changes take effect from March 1, 2027.

"This new business categorization will help investors see and understand the businesses of listed companies in the technology group more clearly," said Sarawit. "It also enables them to search for and compare Thai stocks with companies in the same business on leading regional stock exchanges, and helps analysts value stocks by comparing them with companies having similar business characteristics more appropriately."

Sarawit added that this also prepares for newly listed companies operating in new business formats and supports the development of future investment products such as Thematic or Sector ETFs.

The Stock Exchange of Thailand received support through feedback and suggestions from capital market stakeholders to consider improving the said business category structure. This upgrade aligns with the SET's missions of "Empowering Market Participants" and "Trusted Marketplace," which aim to enhance the potential of market participants while developing Thailand's capital market to be credible and internationally competitive.

For the new structure of the Technology industry group (TECH), it will be divided into four business categories to reflect the primary revenue-generating business characteristics of listed companies (previously consisting of two categories: ETRON and ICT) as follows: 1. Electronic Components (ETRON) - retaining the existing category for manufacturers, designers, and distributors of electronic components, including semiconductors and integrated circuits (chips) and related products. 2. Digital Infrastructure & Telecommunications (DINFRA) - for providers of communication infrastructure, network systems, equipment, connectivity, and providers of digital data transmission, processing, or storage services. 3. Technology Services & Solutions (TECHSS) - for providers of technology services covering hardware and/or software, including contracted system management and maintenance, and related technical support. 4. Technology Products & Digital Platforms