Thailand as core of Maybank's regional growth

 In Thailand, the market share is set to grow to 12 per cent in 2012 from 11.86 per cent in 2011. Operating in 11 countries, the bank counts Thailand as a key market. Maybank Kim Eng Securities (Thailand) currently contributes some 28 per cent in terms of revenue for the entire Maybank Kim Eng group.
 Speaking at a news conference in Bangkok in conjunction with the company’s celebration of 10 years as the top Thai broker, Maybank President & CEO Dato’ Sri Abdul Wahid Omar said that Maybank KE Thailand has become an important component of the Maybank Group in achieving its vision of becoming a regional financial services leader by 2015.
 “At Maybank, we are focused on capturing growth opportunities in emerging markets and in strengthening our market presence. Thailand, South East Asia’s second largest economy, is expected to grow by 5.2 per cent in 2012,” he said. “This is part of the reason why we acquired Kim Eng Holdings.”
 Dato’ Sri Abdul Wahid said that with steady growth of approximately 5 per cent expected in the next 5 years, Thailand is an important market for the Maybank Group in achieving its vision.
 “Maybank Kim Eng’s vision to become the region’s financial powerhouse by 2015 will benefit from the advent of the ASEAN Economic Community (AEC) in that year. This will transform the entire region into a single highly-competitive market and production base, and Maybank Kim Eng intends to capitalise on the free flow of goods, services, investment, capital and skilled labour.”
 “With Maybank Kim Eng’s strong position in Thailand, we are expecting greater traction and a better distribution network for our stock broking and investment banking businesses. In addition, we are hoping that we can bring in our expertise in other areas such as insurance, Islamic banking and cash management to the country.”