• 
• 

Published on March 20, 2008

Bualuang Securities is aiming for a 5-per-cent market share of the brokerage industry by the end of the year, following last year's collaboration deal with Morgan Stanley to act as the US firm's exclusive partner in the Kingdom.

Bualuang's current share is 3.68 per cent.

President Yarnsak Manomaiphiboon said yesterday that since clinching the exclusive partnership, the proportion of its customer base accounted for by institutional investors had risen to 38.1 per cent at the end of last year, from 32.2 per cent in 2006.

He expects client accounts to rise to 25,000 from the current 20,000.

Yarnsak said the company and Morgan Stanley would conduct roadshows in Hong Kong, Singapore, London and New York. They will be accompanied by representatives from a number of listed companies.

This year, the company also plans to open micro-branches in branches of Bangkok Bank - Bualuang's parent company - in Nakhon Ratchasima, Phuket, Ayutthaya, Surat Thani and Rayong.

Bualuang forecasts its revenues this year will be about Bt1.1 billion compared to Bt972 million in 2007, as the securities sector has gradually been recovering.

The projection assumes a daily trading value of Bt18 billion.

Yarnsak said he believed that 65 per cent of Bualuang's revenue would come from the firm's brokerage business, with the remainder coming from fee charges and other activities.

He added that the company was likely to boost its market share to 5 per cent in the final quarter, giving it an average share of about 4.3 per cent for the entire year.

Bualuang is currently managing eight deals totalling Bt10 billion. They are initial public offerings, public offerings and private placements.

Income from four deals will be booked on the company's financial statement this year, Yarnsak said.

Looking ahead, Bualuang expects the Stock Exchange of Thailand Index to rise to 989 points this year, he said.

Siriporn Chanjindamanee

The Nation