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Published on September 28, 2007

Chaipatr Srivisarvacha, CEO of Seamico Securities, told reporters that some shareholders had asked about the merger but executives told them that no decision had been reached on the matter.

"Also, our major shareholder has never provided us with information about the merger," he said.

The tie-up was widely reported after Strategic Capital Acquisi-tions became Seamico's new major shareholder through stakes held by Quam Securities and Quam Securities Nominee (Singapore).

However, the opening up of the industry in five years would be a driving force for mergers and acquisitions, he said. "The liberalisation might wipe out some brokers. I believe all existing players cannot avoid the trend. Seamico is a medium-sized firm and we have to get bigger to survive."

The company plans to increase its market share from 3 per cent this year to 5 per cent in 12-18 months by attracting new staff, especially marketing officers, and by persuading ex-officers to return to work, he said. It will also invite its customers to invest overseas.

Meanwhile, Sicco Securities CEO Siripong Sutharoj dismissed  speculation that his firm would merge with Kim Eng Securities (Thailand). "We have no merger plan as none is needed now. We can live alone as we offer various services that meet customer demand. The company is seeking an executive partner to add value to the business and increase the ratio of foreign institutional investors. The negotiations will show progress late this year," he said.

Siriporn Chanjindamanee

The Nation