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Published on November 13, 2007

CEO Kongkiat Opaswongkarn said yesterday that market fluctuation next year would be greater than this year.

His company plans to maintain its 6-per-cent share of local stock-market trades. Its exact current share is 5.87 per cent.

Kongkiat said brokerages would be engaged in fierce competition next year and Asia Plus would increase its overseas portfolio, with a focus on emerging markets.

At present, its own investments total Bt3.5 billion, of which Bt300 million is abroad.

"The degree of higher investment in foreign markets will depend on timing and opportunities in our own stock market," he said.

Thanks to its own investments, Asia Plus reported a net profit in the first nine months of this year of Bt351.92 million, up from Bt268.98 million in the same period last year.

The company will seek to increase the money it makes from stock investment, consequently lowering what it makes from trading. At present, 62 per cent of revenue is from trading.

The change will mitigate risk from the full deregulation of stock brokerages in 2010, Kongkiat said.

The company is handling about four initial public offerings this year and a number of mergers and acquisitions next year.

Kongkiat said the company was not closed to opportunities for a merger, given the trend in the securities industry. However, it has no plans past completing the merger of ABN Amro Asia Securities and Asset Plus.

"If we want to merge with another brokerage in the future, our target would not be a retail investor-oriented broker," he said.

Asia Plus closed yesterday at Bt4.04, down 10 satang, or 2.4 per cent, on trade of 21.3 million shares.

Siriporn Chanjindamanee

 The Nation