Date :23 April 2012
Maybank and Maybank Kim Eng Securities (Thailand) has recently held a grand launching Maybank in Thailand and celebration 10th consecutive year of market leadership of Maybank Kim Eng Securities (Thailand). Tan Sri Dato’ Megat Zaharuddin Megat Mohd Nor, Chairman of Maybank (3rd from left), together with management from Maybank Group, Malaysia and Yuth Vorachattarn, Chairman (3rd from right) and management of Maybank Kim Eng Securities (Thailand) Plc. has welcomed Khun Kittiratt Na-Ranong, Deputy Prime Minister and Finance Minister of Thailand (centre of the picture) who has given the speech and presided over the grand launching ceremony at the St. Regis Bangkok Hotel.
Maybank Kim Eng aims to remain No 1 broker in Thailand to expand network, introduce Wealth Management & Offshore Trading
Regional investment banking group, Maybank Kim Eng today said that it has set a target to remain as top broker in Thailand, aiming to grow its market share to 12% in 2012 from 11.86% in 2011.
Maybank Kim Eng, which operates in 11 countries worldwide, counts Thailand as a key market in which it has been ranked No 1 broker for the past 10 years. Maybank Kim Eng Securities (Thailand) (Maybank KE Thailand) currently contributes some 28% in terms of revenue for the entire Maybank Kim Eng group in FY2011.
Speaking at a news conference in Bangkok in conjunction with the company’s celebration of 10 years as the top Thai broker, Maybank President & CEO Dato’ Sri Abdul Wahid Omar said that Maybank KE Thailand has become an important component of the Maybank Group in achieving its vision of becoming a regional financial services leader by 2015.
“At Maybank, we are focused on capturing growth opportunities in emerging markets and in strengthening our market presence. Thailand is South East Asia’s second largest economy, registering 5.2% economic growth in 2012,” he said. “This is part of the reason why we acquired Kim Eng Holdings.”
Dato’ Sri Abdul Wahid said that with steady growth of approximately 5% expected in the next 5 years, Thailand remains an important market for the Maybank Group in achieving its vision.
“Maybank Kim Eng’s vision to become the region’s financial powerhouse by 2015 will benefit from the advent of the ASEAN Economic Community (AEC) in that year. This will transform the entire region into a single highly-competitive market and production base, and Maybank Kim Eng intends to capitalise on the free flow of goods, services, investment, capital and skilled labour.”
“With Maybank Kim Eng’s strong position in Thailand, we are expecting greater traction and a better distribution network for our stock broking and investment banking divisions. In addition, we are hoping that we can bring in our expertise in other areas such as insurance, Islamic banking and cash management in the country.”
Group Chief Executive of Maybank Kim Eng, Tengku Dato’ Zafrul Tengku Abdul Aziz said, “ Maybank KE Thailand is targeting revenue growth driven by the expansion of business as well as through the new products and services. The total revenue for Maybank KE Thailand stood at 3.2 billion baht and net profit at 654 million baht in 2011. “
He said that the company will be expanding its network with three new branches this year as well as embarking on wealth management and offshore trading services for its clients, in a bid to cement its lead in Thailand.
Maybank KE Thailand is also planning to provide its clients with cross-trading facilities under the ASEAN Link, part of the ASEAN Exchanges development program. In the first phase towards building an integrated ASEAN-wide trading connectivity, the targeted implementation for 2012 is across three countries - Malaysia, Singapore and Thailand. ASEAN with a burgeoning population of 600 million people and combined nominal GDP of 2 trillion usd is currently one of the most dynamic economic regions in the world.
Meanwhile, Maybank KE Thailand CEO Montree Sornpaisarn said, “Under the Maybank brand, we are now much stronger and are able to catapult Maybank KE Thailand into the regional investment banking arena, thus reinforcing our financial leadership and capabilities.”
He added that Maybank KE Thailand was already benefitting from the synergy with Maybank as it resulted in improved investment banking and underwriting capabilities as well as the ability to offer cash management support.
Maybank KE Thailand will be tapping into the wealth management market segment with a new Wealth Management Service to be introduced shortly. This is timely given the growing wealth among consumers in Thailand, who are looking for more sophisticated investment products. This new capability will enable us to assist our clients with more varied asset allocation and portfolio management by a professional Wealth Management team.
The new offshore trading service, on the other hand, can either be done with the help of brokers or directly via Maybank KE Thailand’s sophisticated online platforms. This service is expected to start in the second quarter of this year.
Overseas investment is fast-becoming an attractive channel for enhanced returns and an avenue for clients to spread their risk. Apart from Thailand, Maybank Kim Eng is well-positioned to handle stock trading for clients in four other countries namely Hong Kong, Malaysia, Singapore and the United States of America.
On plans to expand its network in Thailand, Mr.Montree said one branch in Hua Hin had just been opened recently while the other two will be opened in Bangkok, making a total of 45 branches nationwide with over 600 qualified investment consultants.
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About Maybank
The Maybank Group is Malaysia’s regional financial services leader with an international network of over 2,200 offices in 17 countries namely Malaysia, Singapore, Indonesia, Philippines, Brunei Darussalam, Vietnam, Cambodia, Thailand, Papua New Guinea, Hong Kong SAR, People's Republic of China, Bahrain, Uzbekistan, Pakistan, India, Saudi Arabia, Great Britain and the United States of America. The Group offers an extensive range of products and services, which includes commercial banking, investment banking, Islamic banking, stock broking, insurance and takaful and asset management. It has over 45,000 employees serving more than 22 million customers worldwide.
About Maybank Kim Eng
Maybank Kim Eng is a leading investment broking and securities group in Asia. It has an international presence, with an extensive network of offices in Malaysia, Singapore, Hong Kong, Thailand, Indonesia, Philippines, India, Saudi Arabia, Vietnam, London and New York. Through its various subsidiaries, Maybank Kim Eng offers a host of financial services such as corporate finance, investment banking, debt markets, equity capital markets, derivatives, venture capital and private equity, retail and institutional securities broking, research, and asset management services. A leader in many of the Asian markets that it operates in, Maybank Kim Eng has won numerous prestigious awards in the markets that it serves.
About Maybank Kim Eng Securities (Thailand) Plc. (Maybank KE Thailand)
Thailand’s top securities broker, Maybank KE Thailand has achieved number one market share for 10 consecutive years since 2002. The company provides a wide range of financial services such as retail and institutional securities broking and investment banking. The company has over 600 investment professionals and serves 80,000 clients with 45 branches nationwide. Maybank KE Thailand is a member of Maybank Group.