Seamico expects to lift market share

Chao Arunyawat, Seamico Securities managing director, said yesterday that the company had not felt any adverse effects from the lacklustre market sentiment as its customer base was diversified.

Retail investors account for 70 per cent of the company's customers, 5 to 10 per cent are foreign institutional customers and the remainder are local institutions, he said.

Based on the market-share forecast, he estimated that the brokerage house this year would earn higher revenue from the previous year at Bt849 million. "We have many retail investors - 70 per cent of all customers. As our customers are diversified, our trading volume has not declined significantly," he said.

He also confirmed that Seamico Securities was not hurt from forced sales after the Thai stock market tumbled over 20 per cent from the beginning of this year.

The company still extended margin loans at the normal level, he said.

The broker had outstanding market loans of Bt2 billion between April and May this year and they now stand at Bt1.6 billion.

Chaipatr Srivisarvacha, the company's chief executive officer, said Seamico Securities was in talks for a joint-venture deal with three Vietnamese brokers to invest in Vietnam.

The deal is expected to be concluded this quarter, he said.

Investing in Vietnam now was good timing as Vietnam's stock market had plunged 60 per cent from the beginning of this year, he said.

Seamico Securities would own 40 to 50 per cent in the joint-venture company, he added. "Expanding overseas will diversify the company's risks and income."