FRIDAY, March 29, 2024
nationthailand

Finansia Syrus Securities eyes Asean expansion

Finansia Syrus Securities eyes Asean expansion

Finansia Syrus Securities aims to become an Asean-level brokerage house within three to four years, while maintaining its Thai market share at no less than 5 per cent next year and planning to team up with a foreign partner for domestic customer-base expa

Chief executive officer Chuangchai Nawongs said yesterday that the company planned to expand its business into other Asean countries and was currently studying an investment plan for Vietnam and Myanmar, which would add to its joint venture in Cambodia. 
The joint venture has a listing deal pending in Cambodia’s stock exchange for a firm operating a deep-sea port in the neighbouring country, he said.
“Our company targets becoming a brokerage house at the Asean level in the medium term of three or four years, after [establishing] full servicing in Thailand. We will expand our businesses in three directions: brokerage business in Thailand; offering new products for customers; and business expansion in Asean,” he added. 
Finansia Syrus Securities this year will maintain its Thai market share at a minimum of 5 per cent, the same figure as next year’s target, said the CEO. 
The securities house has 50,000 share-trading accounts, 20 per cent of which are active. 
Eighty per cent of the account holders are retail investors, 17 per cent foreign institutional investors and 2 per cent local institutional investors. 
In response to rumours that the company was waiving the trading commission rate normally charged for transactions of more than Bt20 million, Chuangchai said it was charging the rate set by the Association of Thai Securities Companies. 
“The company has set a target to offer fully integrated services for retail investors. Now, we have 600-700 marketing staff in 35 branches, with 14 staff in our analysis team,” he said.
Finansia Syrus Securities also plans to tie up with a foreign partner to expand its business in the Kingdom.
Negotiations are expected to be completed and a deal struck within two months, with the goal being that the partnership will bring in an additional 1,000 accounts per month, he said.
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