MBKET sets sights on 15% growth in 2013 [Bangkok Post, Thailand]By Nuntawun Polkuamdee, Bangkok Post, ThailandMcClatchy-Tribune Information Services
Feb. 13--Maybank Kim Eng, Thailand's top stock broker, aims to be a leader among Asean financial institutions by 2015, with a revenue growth target of 15% this year.
Montree Sornpaisarn, chief executive of MBKET, said the Maybank Group's goal is to become a leader in Asean within two years.
To achieve its goal, the company plans to improve the efficiency of its two main divisions, securities and investment banking.
MBKET is supported by Maybank, the largest financial group in Malaysia, which acquired a major stake in Kim Eng two years ago.
The entry of Maybank has supported MBKET at the regional level, extending its remit to integrated financial services.
With MBKET's regional focus, its parent company has been providing human resources and analysis to support the endeavour.
"Since the Maybank Group has more experience in dealing with and providing services to institutional customers, it can be the best supporter of our development pace," said Mr Montree.
MBKET's margin loans have increased from 6 billion baht in early 2012 to 12 billion baht now, in line with active trading on the Thai stock market.
The company aims to add 20,000 new trading accounts this year for a total of 140,000. It also plans to bring in seven newly listed stocks, with total fund-raising of 10 billion baht for trade on the bourses.
The company targets the Stock Exchange of Thailand index at 1,550 points this year.
In other developments, MBKET plans to launch a property fund or real estate investment trust (REIT) by the third quarter, as well as 100 derivative warrants.
MBKET reported 2012 revenue of 3.24 billion baht and a profit of 738 million baht, up 12.9%. Some 90% of revenue came from brokerage, the rest from interest income and investment banking.
The firm is No.1 in market share with 12.5%, up from 11.9% at the end of 2012. Most clients are local investors; while institutional investors remain a small group at 17%, MBKET hopes to raise the figure to 20% within three years.
Boonporn Boriboonsongsilp, chief executive for retail business, said the goal is to expand the retail customer base and maintain market share at 12-13% in 2013, with a 25% market share in online trading.
This year, MBKET will open three or four branches in Bangkok and upcountry to tap new investors, coupled with training courses and information about stock analysis.
(c)2013 the Bangkok Post (Bangkok, Thailand)
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