The Finansa group hopes to record a net profit for the year after posting a net loss of Bt238 million in the first quarter.

Managing director Vorasit Pokachaiyapat said the firm was confident of gaining a 2-per-cent market share after it took on more than 100 marketing agents from Globlex Securities, including Chuangchai Nawong, the designated president of Finansa Securities. The company is now in negotiations to buy 10 branch offices from Globlex and expects to transfer the branches at the end of June. This boost to Finansa's customer base would cost no more than Bt50 million.

Vorasit said market share had declined over the past year, particularly in the fourth quarter when marketing staff moved to other companies, reducing its share from 2.57 per cent to 0.66 per cent in the first quarter this year.

"The continuous reduction of market share is our concern," he said. "We've been analysing the cause and solution. To boost market share is not an easy thing. But our solution to bring a marketing team from Globlex has been done strictly in line with the regulations of the Securities Company Association, the SET and SEC."

Chuangchai said yesterday he was waiting for his appointment to be approved by the SEC. He said he opted for Finansa because the group has depth in research, investment banking and insurance.

"I have targeted a market share of 2 per cent and think we will achieve it. We have more than 100 marketing staff, and about 3,000 customer accounts to boost Finansa's total customers up to 6,000," he said.

Finansa's consolidated net loss of the first quarter this year was Bt238.3 million, compared to a net profit of Bt58.7 million in the same period last year.

Siriporn Chanjindamanee

The Nation