Bangkok--Apr 26--Kim Eng Securities (Thailand)
Background
Phatra Securities Public Company Limited, (the “Company”), is one of the leading securities companies in Thailand with respect to investment banking business and the provision of brokerage services to institutional customers. Historically, the Company was the securities business department of Phatra Thanakit Finance and Securities Public Company Limited (“Phatra Thanakit”). In 1997, the government declared a policy of separating finance and securities businesses, as a result, the Company was established under the name of “Phatra Securities Company Limited”. In 1998, Phatra Thanakit Finance Public Company Limited, which had held 99.9% of the Company’s shares, sold 49.0% of the Company’s shares to KASIKORNBANK Public Company Limited and another 51.0% to Merrill Lynch, which is one of the world’s leading financial institutions. In December 2003, KASIKORNBANK Public Company Limited and Merrill Lynch sold their respective shareholdings in the Company to a group of management and employees of the company. The Company is licensed to carry out 5 types of securities businesses, namely securities brokerage, securities dealing, underwriting, investment advisory and securities lending and borrowing businesses.
Types of Business
At present, the Company’s core business is divided into 3 businesses, which are as follows:
1. Securities Brokerage Business. The Company provides brokerage services to both domestic and international institutional investors and High Net Worth Individuals. In 2004, the Company was ranked sixth in terms of market share which was equal to 3.99% of the SET’s total trading value and have approximately 10.0% of the SET’s total trading value with respect to institutional customers.
2. Investment Banking Business. The Company provides investment banking services in form of financial advisory and underwriting services to large Thai organizations both in the public and private sectors. Examples of the Company’s past experience include the underwriting of securities for PTT Public Company Limited, KASIKORNBANK Public Company Limited, Thai Airways International Public Company Limited, Thai Oil Public Company Limited, Airports of Thailand Public Company Limited, C.P. Group of Companies and Shinnawat Group of Companies.
3. Investment Business. During the second half of 2004, the Company re-established two departments which are responsible for managing its own investment activities, namely, the Proprietary Trading Department and the Direct Investment Department. These businesses, which were operated by the Company when it was part of Phatra Thanakit, were discontinued during the period where Merrill Lynch was a major shareholder of the Company. The Proprietary Trading Department makes short-term investments of not more than 1 year in equity and equity-linked securities listed on the SET, while the Direct Investment Department invests in assets, including listed and non-listed securities, with an investment period of 1-5 years.
Moreover, the Company has a Research Department, which has been internationally recognized by both international and local institutional investors Currently, the Company produces macro-economic and equity research publications covering 58 Thai corporates listed on the SET with the total value exceeding 70% the SET’s market capitalization. In addition to producing its own research, the Company also produces co-authored research with Merrill Lynch and distributes to the investors. In addition, the Company distributes Merrill Lynch Non –Thai research on global economic and regional industrial conditions which provides benefit to the Company’s clients. The Company’s Research Department was awarded for both researches and analysts.
Strengths of the Company
Goals and Business Strategies
The principal objective of the Company is to be the leader in Thailand in all the core businesses that the Company provides and to be the first choice of customers in those businesses. The Company intends to achieve these objectives by focusing on the following:
Revenue Structure
Type of Income
2002
2003
2004
Baht
%
Baht
%
Baht
%
Million
Million
Million
Brokerage Fee from -Domestic Institutional Investors
67.2
9.0
109.0
6.7
201.5
12.1
-International Institutional Investors
293.1
39.4
444.6
27.2
520.8
31.2
90.0
12.1
226.2
13.9
291.4
17.5 Total Brokerage Fees
450.2
60.5
779.8
47.7
1,013.7
60.8 Fees and Services Income
94.9
12.7
695.3
42.6
399.4
23.9
127.0
17.1
119.0
7.3
218.7
13.1 Total Fees and Services Income
221.9
29.8
814.3
49.9
618.1
37.0 Other Income
72.6
9.7
39.8
2.4
36.2
2.2 Total Income
744.7
100.0
1,633.9
100.0
1,668.0
100.0
Awards
Grantor
Year
Type of award
Finance Asia Magazine
2000 Best Domestic Investment Bank in Thailand
2001 Best IPO of the Year (in the case of PTT Public Company Limited)
2002 Best Foreign Investment Bank in Thailand
2004 Best Investment Bank and
Best Equities House in Thailand
Best IPO and Best Privatization in Thailand (in the case of Thai Oil Public Company Limited)
Best Equity Deal (in the case of Thai Oil Public Company Limited)
Best Thailand Deal (in the case of Thai Oil Public Company Limited)
Euromoney Magazine
2000 Best Foreign Bond House in Thailand
2001 Best Equity House in Thailand
2002 Best Equity House in Thailand
2004 Best Equity House in Thailand
The Asset Magazine
2001 Best IPO of the Year (in the case of PTT Public Company Limited)
2003 Best Domestic Investment Bank in Thailand
2004 Best Domestic Merger and Acquisition (in the case of merger of Thai Military Bank Public Company Limited, DBS and IFCT)
Best Domestic Investment Bank in Thailand
Best IPO (in the case of Thai Oil Public Company Limited)
Money & Banking Magazine
2002 Excellence as financial advisor (in the case of PTT Public Company Limited)
SET
2004 Best financial advisor for Newly Listed Company of the Year (in case of Thai Olefins Public Company Limited)
Grantor
Year
Type of award
Asiamoney Magazine
2000 Best research firm in Thailand
Best Country Analysts - Dr. Supavud Saicheua
Best macroeconomics research in Thailand
2001 Best overall country research in Thailand
Best analyst in Thailand - Dr. Supavud Saicheua
Best macroeconomics research in Thailand
2002 Best overall country research in Thailand
Best macroeconomics research in Thailand
2003 Best macroeconomics research in Thailand
Institutional Investor Magazine
2000 2nd place for Best Research Team in Thailand
2001 First-team winner for Thailand country research
2004 4th place for Best Research Team in Thailand
SET
2004 Best Research House of the Year – Institutional Clients End.
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