Upload
lydieu
View
223
Download
0
Embed Size (px)
Citation preview
Strictly Private & Confidential Page 1
Strictly Private & Confidential
December 2013
Corporate Presentation
Maybank Kim Eng Securities (Thailand) Plc.
June 13, 2016
Strictly Private & Confidential Page 2
Agenda
1. Maybank Kim Eng Thailand Overview
2. Maybank Group
3. Financial Highlights
Strictly Private & Confidential Page 3Strictly Private & Confidential Page 3
Maybank Kim Eng Thailand Overview
Strictly Private & Confidential Page 4
Maybank Kim Eng’s Highlights
Nithipat Capital Co., Ltd established in October 1990
Becomes Nithipat Capital and Securities Co., Ltd (NICS)
Kim Eng Holdings Ltd. gains total control of NICS and renamed it as “Kim Eng Securities (Thailand)” (“KEST”)
Kim Eng Securities (Thailand) merges with Yuanta; acquires 77.73% of Yuanta Securities (Thailand) Co., Ltd
Kim Eng secures number 1 position in terms of brokerage market share
Maybank group acquired 100% in Kim Eng Holdings Limited as our major shareholders, and as at October 31, 2011 after tender offering
process, Kim Eng Holdings Limited and subsidiaries hold 83.74% of KEST paid up shares, and then Effective from 25 November, 2011,
renamed KEST as Maybank Kim Eng Securities (Thailand) Plc. (“MBKET”)
FinanceAsia awards Maybank Kim Eng Securities (Thailand) Plc. as “Best Broker Thailand” and Alpha Southeast Asia awards MBKET as “Best
Retail Broker for Thailand”, reflecting number 1 broker in Thailand since 2002.
“Best Broker in Thailand2014” from Finance Asia , Alpha Southeast Asia, the Asian Banker and Asset Triple A
“Best Retail Broker in Thailand 2013” from Alpha Southest Asia, reflecting number 1 broker for 12 consecutive years.
Fitch Ratings (Thailand) has upgraded Maybank Kim Eng Securities (Thailand) Plc. National Long-Term Rating to “AA(tha)” from AA-(tha)
and National Short-Term Rating at “F1+(tha) as of April 30, 2014.
Fitch Ratings (Thailand) has upgraded Maybank Kim Eng Securities (Thailand) Plc National Long-Term rating to ‘AA-(tha)’, 2 notches up
from previous rating at ‘A(tha)’. The upgrade reflects benefits from MBKET integrating with Maybank group.
Fitch Rating has affirmed Maybank Kim Eng Securities (Thailand) Plc National Long-Term rating to “AA-(tha)”
2015 “Best Broker in Thailand 2015” from Alpha Southest Asia , Finance Asia, Asset Triple A and the Asian Banker
“Best Securities Company of the Year 2015” from Money & Banking Magazine
2016
2001
2013
2012
2002
2011
2014
1998
1996
1990
Certificate of Membership from CAC’s council on commitments to the CAC declaration on anti-corruption. This implements MBKET to be a
full member of the CAC effective from 22 January, 2016. This project’s objective is to move forward the concrete anti-corruption and
broadly in Thailand is sponsored by Center for International Private Enterprise (CIPE).
Strictly Private & Confidential Page 5
“Number 1 brokerage services for 14 consecutive years”
Awarded as “Best Broker of Thailand” consistently.
Market Share for Q1/2016 (%)
4
Strong Financial
Health
Broadest Network59 branches including head office
– 35 branches in BKK
– 23 branches in upcountry
•Healthy balance sheet
• Solid NCR of 36.17% (as of 31 March, 2016
• Sufficient placement ability for underwriting IPO
Maybank Kim Eng Securities (Thailand) Plc.
• Best Securities Company of the Year 2015 Money & Banking Magazine
• Best Retail Broker 2015 Finance Asia (2014-2015) , Alpha Southest Asia (2014-2015) and
the Asean Banker (2015)
• Best Brokerage House” for Thailand from the Asset Triple A Awards 2012 – 2015 (4
consecutive years).
• Best Retail Broker (2013) and Best Institutional Broker (2013) Alpha Southeast Asia 2013
• Best Retail Broker (2011), Alpha Southeast Asia
• TFEX Best Award (2011), Thailand Futures Exchange
• SET Awards 2011 – Outstanding Securities Company
• SET Awards 2011 – Outstanding Derivate House
• Best Broker in Thailand (2010), Finance Asia
• Best Research House for retails (2007 & 2008), SAA
• Best analyst in energy and petrochemicals for retail investors (2008), SAA
• Best medium & small cap. analyst for retail investors (2007), SAA
• Best medium & small cap. Analyst for institutional investors (2007), SAA
Distinguished &
Repeated Awards
Assets (THB mn)
Equity (THB mn)
9,0
34
7,1
66
13
,97
3
14
,68
4
20
,61
2
17
,98
9
4,6
37
4,4
20
4,5
17
5,2
75
4,8
84
4,8
18
2010 2011 2012 201 201 201
1
2
3
As of Q1/2016
Equity Derivatives
Market share 8.29% 5.51%
Ranking 3
6
1
2.49
2.50
2.60
2.70
2.80
2.82
2.88
3.09
3.36
3.36
3.57
3.70
3.80
4.00
4.08
4.40
5.04
5.72
6.83 8.29
KTZ
CLSA
MACQ
AEC
PST
UBS
DBSV
CNS
KGI
ASPS
KS
CS
SCBS
AWS
TNS
BLS
PHATRA
FSS
CIMBS
MBKET
MBKET :#1 Broker in Thailand
Strictly Private & Confidential Page 6
MBKET is the only
banker with highest
retail client base,
covering more than
70,000 accounts
throughout our 57
branches around the
country
New York Hong
KongSingapore
London
ThailandIndia
Indonesia
Malaysia
PhilippinesVietnam
MBKET: Broadest local distribution network with extensive global network
Branches in Bangkok Metropolitan1. Central World (Head
Office)13. Phahurat 25. Ladprao
2. Zen World 14. Fortune Town 26. Seacon Square3. Ngarmvongvan 15. Future Park 27. Silom4. Thapra 16. Fashion Island 28. Changwatana5. Yada 17. Phayathai 29. Amarin6. Thonglor 18. Yaowara 30. All Seasons7. Thaniya 19. Watcharapol 31. Asoke8. Bangkapi 20. Srinakarin 32. Emporium9. Thanyapark 21. Dhurakit Bandit 33. BTS Chongnonsee
10. Bangkae 22. Sathorn 34. BTS Saladang11. Pratunam 23. United Center 35. BTS Morchit12. Pinkhao 24. The Nine 36 Aree *
Branches in upcountry
Central Region1. Samutsakorn 2. Samutsongkram 3. Nakornsawan
Eastern Region1. Chantaburi 2. Chonburi 3. Aranyaprathet4. Rayong 5. Rayong 2
Northeastern Region
1. Khonkaen 2. Nakornratsima 3. Surin4. Surin 2 5. Ubonratchathanee 6. Ubonratchathanee 2
Northern Region1. Chiangmai 1 2. Chiangmai 2 3. Chiangmai Business Park4. Lampang
Southern Region1. Phuket 2. Hua Hin 3. Yala4. Suratthanee 5. Hadyai
* Opened 1 Feb, 2016
Strictly Private & Confidential Page 7
Organization Structure as of 31 March, 2016
7
Chief Executive Officer(Co-CEO)
Derivatives
Investment Banking
Board of Directors
Audit Committee
E-Commerce 1
Retail Sales & Dealing
Retail 1 Retail 3
Institutional Sales
Human Resources
Treasury/Cashiers
Settlement/Custodian
Accounting
General Services
Corporate Legal
Chief Operating Officer(COO)
TH EXCO
OperationClient Service
Information and Technology
Chief FinancialOfficer
CG Committee
Corporate
Communication
Online Services
Business Development
Private Wealth Management 1
Compliance
Internal Audit
MIS
Chief Information Officer
Management Accounting
TH CUC
TH MRC
TH CCChief Executive Officer
(Co-CEO)
E-Commerce 2
IC and Retail Clients Training
Risk Management &
Credit Control
Retail 2
E-Commerce 3
Research
Institutional Research
Private Wealth Management 2
Private Wealth Management 3
Selling Agent
Strictly Private & Confidential Page 8
Board of Directors as of 31 March, 2016
1. Mr. Yuth Vorachattarn Chairman to the BOD & Audit Committee Member
2. Mr. John Chong Eng Chuan Director
3. Mr. Montree Sornpaisarn Director
4 Ms. Boonporn Boriboonsongsilp Director
5. Mr. Cheah Teik Seng Director & Audit Committee Member
6. Ms. Sopawadee Lertmanaschai Director & Audit Committee Member
1. Mr. Montree Sornpaisarn Chairman
2. Ms. Boonporn Boriboonsongsilp Member
3. Mr. Pusit Kaewmongkolsri Member
4. Mr. Mohamad Yasin B. Abdullah Member
5. Ms. Ng Ee Fang Member
6. Mr. Jeffrey Goh Member
7. Mr. Supavee Thanasrisunee Member
8. Mr. Peerasit Chiwabhong Member
The Board of Directors
Thailand Executive Committee (TH EXCO)
Strictly Private & Confidential Page 9
Key Rating DriversInstitutional Support Driven Ratings: Maybank Kim Eng Securities (Thailand) Public Company Limited’s
(MBKET) ratings are based on Fitch Ratings’ expectation of a very high probability of extraordinary support from its
ultimate parent, Malayan Banking Berhad (Maybank, A-/Negative/F2). Our Negative Outlook on MBKET is in line
with that on Maybank.
Strategically Important Subsidiary: Fitch views MBKET as a strategically important subsidiary of Maybank, which
holds a stake of 83.5% in the company. Thailand is one of the strategic countries for Maybank, and MBKET supports
the group’s securities business in Thailand. MBKET has marketing links and business referrals from Maybank
(particularly in investment banking), and is able to leverage its parent’s know-how and regional network.
Clear Group Linkages: MBKET is strongly integrated within the group, as evident from operational support, name-
and brand-sharing, and full management control by its parent. The group also provides ongoing funding support to
MBKET, including a back-up credit line of USD800m.
Intensifying Competition, Robust Franchise: MBKET represents Thailand’s largest securities company by
trading volume among 37 domestic securities firms. The intensifying competition pushed MBKET’s market share
down to 8.7% in 2015 from nearly 13% in 2010. However, MBKET retains a strong and sustainable retail franchise
that Fitch believes will continue to support its above-average performance compared with the sector.
Continuing Pressure on Profitability: MBKET’s financials remain sensitive to changes in stock-market trading
volume and market sentiment, given its high reliance on brokerage business. The persisting pressure on commission
rates and the lower average daily stock-trading volume contributed to the 19.4% drop in net income in 2015 and a
lower ROE of 21.0% (2014: 24.9%). The stock-market trading volume continues to remain subdued in 2016,
dropping by 27.3% yoy in 1Q16.
Margin Lending Heightening Risk: MBKET is increasingly exposed to asset-quality risks from unexpected shocks
in the stock market, due to its larger margin-loan portfolio. Margin loans had risen to 76.6% of total assets by end-
2015 (2014: 61.5%), driven by a greater risk appetite, and have expanded to cover higher-risk stocks. Nevertheless,
the greater asset-quality risks are mitigated by MBKET’s acceptable record in risk management, and MBKET could
also rely on parental support for additional capital if needed.
ThailandCredit Analysis as of 3rd May, 2016
Ratings
Maybank Kim Eng Securities (Thailand) Plc
NationalLong-Term Rating AA(tha)Short-Term Rating F1+(tha)
OutlookNational Long-Term Rating Negative
Financial DataMaybank Kim Eng Securities (Thailand) Plc
(Consolidated) 31 Dec 15 31 Dec 14
Total Assets (USDm) 498.1 625.3Total Assets (THBm) 17,989.2 20,612.9Total Equity (THBm) 4,818.9 4,884.2Net Income (THBm) 1,019.2 1,264.2ROA (%) 5.3 7.2ROE (%) 21.0 24.9Equity/Assets (%) 26.8 23.7
Analysts
Jackerin Jeeradit
+66 2108 [email protected]
Jindarat Laotaveerungsawat
+66 2108 [email protected]
Fitch Ratings : AA(tha)
AA(tha)
Strictly Private & Confidential Page 10
Long-Term Ratings Bank / Securities
AA+ Krung Thai Bank
AA
Bangkok Bank
Kasikorn Bank
Maybank Kim Eng
Siam Commercial Bank
AA-
Kasikorn Securities
SCB Securities
CIMB Thai
Bank of Ayudhya
A+TMB
Thanachart Bank
A TCAP
A-
Bualuang Securities (*TRIS Rating)
TISCO Financial Group
Asia Plus Securities
Phatra Securities
Fitch Ratings : MBKET is same rating level as BBL, KBANK and SCB
AA(tha)
Strictly Private & Confidential Page 11
Best Retail Broker 2015 for the Fifth
consecutive years since 2011
Alpha Southeast Asia
Best Thailand Broker and Equity House 2015
Best Retail Broker 2015
Finance Asia
Best Retail Broker 2015
The Asian Banker
Strictly Private & Confidential Page 12
Best Thailand Broker
Best Broker in Thailand 2011 -2012
Finance Asia
Best Broker age House 2012
Asset Triple A AwardBest Broker age House 2013
Asset Triple A Award
Best Institutional Broker 2013
Alpha Southeast Asia
Broker of the Year 2014
The Asian Banker
Best Retail Broker 2014
Alpha Southeast Asia
Best Retail Broker 2013 - 2014
Finance Asia
Best Broker age House 2014
Asset Triple A Award
Strictly Private & Confidential Page 13
Activities
MBKET CSR Corporate event on Medical Volunteer – March 12-13, 2016
Mrs.Boonporn Boriboonsongsilp, CO-CEO, and Mr.Kosit Boonroungkaw, MD, took a picture together with all Maybank Kim Eng’s staff at the
Building Complex, Fort Suranari Hospital, Nakhon Ratchasima Province, who joined the CSR event of which theme is to heal 8,400 patients
at no cost.
This project of Health Development and Disease Control event is considered as a very valuable CSR. Actually more important than just a CSR
when hundreds of our staff with the same MBKET t-shirt can help 8,400 patients and do good things together that would also boost up our
unity and loyalty. There are about one hundred staff from Head Office and 20 staff from Korat Branch joined this event. One in HARMONY -
All in UNITY .
Other listed company sponsors, such as PTT and KBANK, and Government Savings Bank also joined this huge event by paying THB 1,000,000
(One Million Thai Baht Only) each for being honourable sponsors while MBKET pay THB 300,000 of this CSR Project.
Strictly Private & Confidential Page 14
Activities
Seminar on Business Opportunities between Malaysia and Thailand - March 2, 2016
Malaysia External Trade Development Corporation, Embassy of Malaysia organized a seminar on Business Opportunities in Malaysia and
Thailand on 2nd March 2016 (Wednesday) held at Shangri-La Hotel Bangkok.
In conjunction to this seminar, we also prepare the table as a promotion booth for your organization to promote your products and
services to the seminar participants. The area will be located in front of the seminar Ballroom as we informed earlier. Our corporate
clients who attended the seminar are those who have established their business in Malaysia and has interest including CP Group –
Malaysia, Minor International Plc., and Central Pattana Plc.
Strictly Private & Confidential Page 15
• MBKET always develop our information and communication technology to support an efficient tool for our investors, both
professional fund managers and retail investors.
• 1st Thai broker with live research analysis (keliveTV) via internet, iPad – iPhone, Android both fundamental and technical
analysis.
• Real time stock information and trading via ios (iPad-iPhone) , Android, Mobile, Tablet, PC, BlackBerry (every operation system)
Samples of Our innovations
Strictly Private & Confidential Page 16
Maybank Kim Eng Offshore Markets
Online MarketsOffline Markets
16
UK
CANADA
SWITZERLAND
USA
FRANCE GERMANY
NORWAY
JAPAN
VIETNAM
SOUTH
KOREA
MALAYSIA
INDONESIA
SINGAPORE
AUSTRALIA
HONGKONG
Strictly Private & Confidential Page 17
Customer Breakdown – as of Q1/2016
Retail, foreign and local institutional accounted for 88%, 7.5% and 4.5% of MBKET’s brokerage business respectively
during FY 2015.
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
1 1 2007
1 4 2007
1 7 2007
1 10 2007
1 1 2008
1 4 2008
1 7 2008
1 10 2008
1 1 200
1 4 200
1 7 200
1 10 200
1 1 2010
1 4 2010
1 7 2010
1 10 2010
1 1 2011
1 4 2011
1 7 2011
1 10 2011
1 1 2012
1 4 2012
1 7 2012
1 10 2012
1 1 2013
1 4 2013
1 7 2013
1 10 2013
1 1 2014
1 4 2014
1 7 2014
1 10 2014
1 1 2015
1 4 2015
1 7 2015
1 10 2015
1 1 2016
1 4 2016
MBKET Customer breakdown
Retail Foreign Local Institutions
Strictly Private & Confidential Page 18
Customer Accounts with Dormant A/C
Number of Accounts Dec 2013 Dec 2014 % Change Mar 2016 % Change
Total Equity Account 166,946 168,303 0.81% 171,004 1.60%
Internet Account 75,091 75,448 0.48% 76,847 1.85%
Credit Balance Account 3,127 3,386 8.28% 3,460 2.19%
Cash Account 88,728 89,469 0.84% 90,697 1.37%
Futures Account 11,001 11,922 8.37% 12,107 1.55%
Number of Active Account
Dec 2013 Dec 2014%
Change Mar 2016%
Change
Total Equity Account 84,876 86,841 2.32% 80,860 (6.89%)
Internet Account 40,054 42,335 5.69% 39,312 (7.14%)
Credit Balance Account 1690 1615 -4.44% 1569 (2.85%)
Cash Account 43,132 42,891 -0.56% 39,979 (6.79%)
Futures Account 2,834 2,778 (1.98%) 2,754 (0.86%)
• At the end of March 2016, MBKET had
171,004 equity accounts and 12,107
futures accounts.
• 44.94% were internet accounts, 2.02%
were margin accounts and the rest
53.04% were cash accounts.
• 47.29% of equity accounts and 22.75%
of futures accounts were active
accounts.
• Outstanding loans on margin accounts
at the end of March 2016 totaled
Baht 13,582.80 million.
• Short sell value at the end of March
2016 totaled Baht 188.57 million.
• There were no defaults on MBKET
margin accounts.
• In case there is no dormant accounts
closing, number of Equity accounts will
be 171,004 accounts, increase 1.60%
Strictly Private & Confidential Page 19
• Among 46 TFEX member brokers, MBKET
ranked #3 by derivatives trading volume in
1Q2016. MBKET’s derivatives trading volumes
come from servicing retail clients, foreign
institutions, local institutions and from
proprietary trading.
• Since TFEX commenced trading on April 2006,
MBKET has earned the customers’ derivatives
account 12,181 accounts. Trading channels
cover both sending orders through marketing
officers and customer trading through the
internet. MBKET has the largest number of
marketing officers – 585 derivatives sales
persons - spreading across 58 branches
(excluding Head Office) throughout the
country.
Derivatives Brokerage Business
0.17
0.23
0.3
0.46
0.54
0.61
0.72
0.79
1.02
1.02
1.1
1.34
1.36
1.4
1.53
1.55
1.55
1.71
1.83
2.23
2.36
2.58
2.67
2.71
2.93
3.1
3.11
3.15
3.35
3.36
4.05
4.56
4.84
4.89
5.29
5.51
7.62
12.3
GTWM
UOBFT
TISCO
UBS
KSS
YLG
CLSAT
DBSV
KKTRD
AIRA
APPLE
UBOBKH
CNS
SCBS
MTSGF
CGS
ASPS
AWS
TNITY
CGF
CS
FSS
AFC
CIMBS
AEC
KTBST
KTZ
GBS
RHBS
HGF
KS
PST
BLS
TNS
JPM
MBKET
PHATR
KGI
TFEX Market Share in 1Q2016(%Share Of Trading Volume)
Strictly Private & Confidential Page 20
Derivatives Brokerage Business
In 1Q2016, MBKET’s Brokerage fee from Derivatives Business was 47.42 million Baht compared to 45.41 million Baht in
1Q2015, representing the revenue increase of 4.43%. MBKET’s average daily volume increased from 23,254 contracts in
1Q2015 to 24,689 contracts in 1Q2016, representing an increase by 6.17%. In 1Q2016, MBKET ranked No.3 in term of
market shares that accounted for 5.51% of the total volume in derivatives market.
1,402,945 1,404,256
1,555,434
5.20%
5.71%5.51%
0%
2%
4%
6%
8%
1,300,000
1,350,000
1,400,000
1,450,000
1,500,000
1,550,000
1,600,000
3Q2015 4Q2015 1Q2016
Mark
et
Sh
are
(%
)
Vo
lum
e (
Co
ntr
acts
)
MBKET's Derivatives Volume and Market Share (%) 3Q2015 - 1Q2016
Volume Mkt. Share
Strictly Private & Confidential Page 21
IB’s Mandated & Potential Deals
Product Type Deals
1. M&A 2 - 3
2. REITS 2 - 3
3. Infrastructure Fund 3 - 4
4. Initial Public Offering IPO)
Added on Public Offering7 - 10
5. Equity/Private Placement 2 - 3
6. Financial Advisory (FA) - Others 1 - 2
Deals by Products in pipeline
Strictly Private & Confidential Page 22
Italian Thai Development
2005
FA / Lead Underwriter
Issue Size: 4,600 MB
Bangsaphan Barmill
2005
FA / Lead Underwriter
Issue Size: 860.7 MB
Salee Industry
2005
FA / Lead Underwriter
Issue Size: 99.7 MB
Shin Satellite
2005
Lead Underwriter
Issue Size: 3,182 MB
Phatra Securities
2005
FA / Lead Underwriter
Issue Size: 1,752 MB
M.C.S. Steel
2005
FA / Lead Underwriter
Issue Size: 336 MB
Indorama Polymers
2005
Co-Lead Underwriter
Issue Size: 1,200 MB
UOB KayHian
2005
Lead Underwriter
Issue Size: 465 MB
Interhides
2005
FA / Lead Underwriter
Issue Size: 273.75 MB
Bangkok Metro
2006
FA / Lead Underwriter
Issue Size: 3,661.24 MB
Sena Development
2009
FA / Lead Underwriter
Issue Size: 396 MB
SIS Distribution (Thailand)
Plc.
2004
FA / Lead Underwriter
Issue Size: 178.45 MB
C.M. Organizer
2004
FA / Lead Underwriter
Issue Size: 125.92 MB
DCON Products
2004
FA / Lead Underwriter
Issue Size: 370 MB
Hwa Fong Rubber (Thailand)
2003
FA / Lead Underwriter
Issue Size: 412 MB
Chonburi Concrete Product
2003
FA / Lead Underwriter
Issue Size: 550 MB
Tycoons Worldwide
Group(Thailand)
2003
FA / Lead Underwriter
Issue Size: 2,435 MB
TPI Polene
2004
Underwriter
Issue Size: 1,850 MB
Syrus Securities
2004
Lead Underwriter
Issue Size: 660 MB
Globlex Holding
Management
2004
Lead Underwriter
Issue Size: 494.50 MB
Krungthai Bank
2003
Co-lead Underwriter
Issue Size: 25,500 MB
Polyplex (Thailand)
2004
Co-lead Underwriter
Issue Size: 1,656 MB
Thainox Stainless
2004
Co-Lead Manager
Issue Size: 5,250 MB
Siam City Bank
2003
FA / Lead Underwriter
Issue Size: 8,400 MB
Siam Global House
2009
Lead Underwriter
Issue Size: 663 MB
Somboon Advance
Technology
2010
FA / Lead Underwriter
Issue Size: 1,113 MB
BTS Groups Holding
2010
Lead Underwriter
Issue Size: 751 MB
Dusit Thani Property Fund
2010
FA / Lead Underwriter
Issue Size: 4,094 MB
UAC
2010
Lead Underwriter
Issue Size: 120 MB
Vichaivej International
Hospital Group
2012
FA / Lead Underwriter
Issue Size: 169 MB
UAC
2013
Lead Underwriter
Issue Size: 192 MB
Interlink Communication
2013
Lead Underwriter
Issue Size: 395 MB
CPNRF Retail Growth
Leasehold Property Fund
(CPNRF)
2014
FA / Lead Underwriter
Issue Size: 6,238 MB
Kaset Thai International
Sugar Corporation
2014
Lead Underwriter
Issue Size: 9,578 MB
Aira Capital
Public Company Limited
2014
Lead Underwriter
Issue Size: 475 MB
Prodigy Public Company
Limited
2014
Lead Underwriter
Issue Size: 196 MB
Impact Growth Reit
2014
FA / Lead Underwriter
Issue Size: 15,715 MB
Loxley Public Company
Limited
2014
FA / Lead Underwriter
Issue Size: 668.25 MB
CPN Commercial Growth
Leasehold Property Fund
(CPNCG)
2012
FA / Lead Underwriter
Issue Size: 4,394 MB
Italian-Thai Development
PLC.
2014
FA / Lead Underwriter
Issue Size: 2,035.15 MB
Singha Estate PLC.
2014
FA / Lead Underwriter
Issue Size: 1,767 MB
Vichitbhan Palmoil PLC.
2014
FA / Lead Underwriter
Issue Size: 637.2 MB
The Platinum Group PLC.
2015
FA / Lead Underwriter
Issue Size: 5,180 MB
MBKET : Reputed Equity Capital Market Track Record Since 2003
Global Power Synergy PLC.
2015
Co -Lead Underwriter
Issue Size: 621 MB
Daii Group PLC.
2015
FA/Lead Underwriter
Issue Size: 120 MB
Strictly Private & Confidential Page 23
AYCAL
2010FA on Debenture Issuance
Issue Size: 5,000 MB
LPN Development
2004
FA for share valuation on one of its subsidiary
CS Loxinfo
2005
FA for Valuation of Teleinfo Media
Bangchak Pertroleum
2005
IFA for Connected Transaction and Whitewash3
Industrial Estate Authority of Thailand
2005
Co-FA for Study on Potential Privatization
IAG Group
2006
Tender Offer Preparer& Tender Agent
for Acquisition of
Safety Insurance Shares
Bank of Ayudhya
2006
IFA on Whitewash, PP at low price to GE and asset acquisition
from GE
Ocean Life Insurance
2008
Financial Advisor on Joint Venture with Dai-ichi Life
Insurance
Golden Land Property Development
2008
FA on Issuance of ESOP Warrant
PTT
2008
FA on Acquisition Strategy of a listed company
Siam Cement Group
2009
FA on Share Valuation
of their investment in aNon-listed Company
TSFC Securities
2009
FA on Debt & Capital Restructuring
Loan Arranger
Thai Credit Bank
2009
FA on Acquiring of
a Leasing Company
Charernkit Enterprise
2009FA on Acquisition & Backdoor
listing of MEDIAS Tender Offer Preparer & Tender
Agent
HitashiTransport System (Asia)
2011
Tender Offer Preparer and Tender Offer Agent
Grand Canal Land
2011
IFA on Acquisition of 2 land plots & Disposal of Golf Business
Tapaco
2010FA on
Right Warrants Issuance
National Power Supply
2007FA for Independent Power
Producer bidding
Ayudhya Insurance
2011
FA on Share Valuation
of the share acquisition in Ayudhya Allianz C.P.
Siam Commercial Bank
2010
FA on Share Valuation
of their investment in aNon-listed Company
Mayban IB Holdings
Sdn Bhd
2011
Tender Offer Agent of Kim Eng Securities (Thailand) PLC
Bangkok Dusit Medical Services PLC.
2011
FA for Delisting of Prasit Patana PLC.
GMM Media
2005IFA on Connected Transaction
for Share Acquisition in MATI and POST
Manecomp Precision
Technologies
2005
Tender Offer Preparer and
Tender Offer Agent
Thai Military Bank
2008
IFA on Connected Transaction and T/O Waiver for ING Bank
Thai–German Ceramic Industry
2008
IFA on Tender Offer by Ceramic Cementhai
Bangchak Petroleum
2009
FA on Enhancing Liquidity& Firm Value
Kasikorn Thai Bank
2009
IFA on Acquiring
Muang Thai Insurance
PTTCH
2011
IFA on amalgamation of PTTCH and PTTAR
Royals food
2011
FA on valuation of its group
Central Pattana PLC.
2012
IFA for Land Leasing from Connected Party
Officemate PLC.
2012
IFA for the Acquisition of Assets and Connected
Transactions
MBKET’s Selected Financial Advisory Track Record Since 2004
CP All PLC.
2013
IFA for the Acquisition of Siam Makro PLC.
Singha Estate PCL.
2014FA on Acquisition & Backdoor
listing of Singha Estate Tender Offer Preparer & Tender
Agent
Millennium Steel
2006
IFA on Tender Offer byTata Steel and NatSteel
JMT Network Services PLC.
2015
FA for Private Placement and Selling Agent of Right
Singha Estate PLC.
2015
FA and Selling Agent of Right Offering
S Hotels and Resorts Inter
2015
FA on Acquisition of Jupiter Holding Management of 26 Mercure hotels in in U.K.
Berli Jucker
2016
IFA on Acquisition of BIG C Super Center Plc.
Strictly Private & Confidential Page 24Strictly Private & Confidential Page 24
Maybank Group
Strictly Private & Confidential Page 25
Corporate ProfileAs at 20 May, 2016
Strictly Private & Confidential Page 26
Maybank is the largest financial services group in Malaysia
■ S&P : A- ■ Moody’s: A3
■ 393 branches, 2,568 ATMs with more than
12 million customers 1
■ No.1 Internet banking with 43% market share 2
■ No. 1 bank in Malaysia: Conventional and Islamic
■ One of the Top 5 banks in ASEAN
■ No. 5 in The Banker’s Top 1000 World Banks
■ Most Valuable Company on Bursa Malaysia
■ Presence in 10 ASEAN countries
(including Maybank Kim Eng)
■ 5 International Financial Centres
■ Over 2,400 branches and offices in 20 countries
■ Diversified across all financial products
and services
■ No. 1 in overall market share for Deposits, and
Unit Trust Loans
Leadership Position
Strong Financial Position
Emerging Regional Leader
Largest banking network in Malaysia
Strong shareholders and credit ratings
Leading domestic market position
■ Fitch : A-
■ 48% owned by PNB and its funds,
and 16% by EPF 2
■ Foreign shareholding 18.73% 4
■ Strong credit ratings, on par with sovereign:
1 As at 1 January 20162 As at 31 December 20153 For 4 quarters ended 31 December 2015
■ Total Assets 2 : USD 165 billion
■ Total Equity 2 : USD 14.3 billion
■ Net Profit 3 : USD 1.76 billion
■ Market Cap 4 : USD 21.2 billion
4 As at 6 May 2015
Strictly Private & Confidential Page 2727
Strong Financial Position: Top 5 Bank in ASEANMaybank is a Top 5 ASEAN banking group in terms of assets, loans and deposits, net
profit and market cap
27.4
25.2
24.2
21.2
21.0
19.1
18.3
17.0
12.8
10.2
DBS
OCBC
Bank Central Asia
Maybank
UOB
Bank Rakyat Indonesia
Public Bank
Bank Mandiri
Siam Commercial
CIMB
43
63
66
77
84
107
165
223
275
323
Bank Central Asia
Bank Rakyat Indonesia
Bank Mandiri
Siam Commercial
Public Bank
CIMB
Maybank
UOB
OCBC
DBS
34.4
48.3
48.8
52.5
70.0
73.8
111.1
169.7
173.8
225.9
28.9
42.5
43.9
51.0
63.5
69.2
106.8
146.3
148.7
202.4
Bank Central Asia
Bank Rakyat Indonesia
Bank Mandiri
Siam Commercial
Public Bank
CIMB
Maybank
UOB
OCBC
DBS
Loans Deposits
727
1,297
1,345
1,386
1,520
1,759
1,896
2,335
2,843
3,246
CIMB
Public Bank
Bank Central Asia
Siam Commercial
Bank Mandiri
Maybank
Bank Rakyat Indonesia
UOB
OCBC
DBS
No.4
No.4 No.4
No.5
Source: Bloomberg
Total Assets (USD bil): 31 Dec 2015 Loans and Deposits (USD bil): 31 Dec 2015
PATAMI (USD mil): 12 months ended 31 Dec 2015 Market Capitalisation (USD bil): 6 May 2016
Strictly Private & Confidential Page 2828
Expanding ASEAN footprintMaybank’s presence in all ten ASEAN countries makes it a truly ASEAN franchise
Universal Banking Retail & Commercial Banking Investment Banking Affiliate/Representative Office * Wholesale Banking license only
BANK
MARKET
CAP
@
6 May 16
(USD Bil)
TOTAL
ASSETS
@
31 Dec 15
(USD Bil)
MALAYSIA
SIN
GAPO
RE
IND
ON
ESIA
TH
AIL
AN
D
PH
ILIP
PIN
ES
BRU
NEI
VIE
TN
AM
CAM
BO
DIA
LAO
S
MYAN
MAR
1 DBS 27.4 323
2 OCBC 25.2 276
3 BCA 24.2 43
4 Maybank 21.2 165 *
5 UOB 21.0 223
6 Public 18.3 84
7 Mandiri 17.0 66
8 SCB 12.8 77
9 CIMB 10.2 107
10 Bangkok 9.1 79
11 BDO 7.7 43
12 Metrobank 5.3 38
*
*
*
Source: Bloomberg (for market cap & total assets data)
Strictly Private & Confidential Page 29
369 485
1,511 1,5411,981
2,850
5,062
6,836
Affin Alliance RHB Cap AMMB HL Bank CIMB Public Maybank
Largest Banking Group in Malaysia
54 67136
188231
364
462
708
Alliance Affin AMMB HL Bank RHB Cap Public CIMB Maybank
39 4487
118151
273 298
460
44 5191
145 158
301318
478
Alliance Affin AMMB HL Bank RHB Cap Public CIMB Maybank
Loans Deposits
Source: Bloomberg
4.4 5.7
13.618.1
27.4
40.7
73.2
84.7
Affin Alliance AMMB RHB Cap HL Bank CIMB Public Maybank
Total Assets (RM bil): 31 Dec 2015 Loans and Deposits (RM bil): 31 Dec 2015
PATAMI (RM mil): 12 months ended 31 Dec 2015 Market Capitalisation (RM bil): 6 May 2016
Strictly Private & Confidential Page 30
Our Vision To be a Regional Financial Services Leader
Strategic Objectives
1. Undisputed #1 Retail Financial Services provider in Malaysia by 2015
2. Leading ASEAN wholesale bank eventually expanding to Middle East,
China & India
3. Undisputed Insurance & Takaful leader in Malaysia & Emerging Regional
Player
4. Truly regional organisation, with ~40% of pre-tax profits derived from
international operations by 2015
5. Global Leader in Islamic Finance
The merger of Maybank and Kim Eng is a strategic
move towards achieving Maybank Group’s aspirations
Strictly Private & Confidential Page 31
Maybank Kim Eng’s Vision
Our Vision
To be a Regional Financial Powerhouse
The premier investment banking service provider in ASEAN, in both conventional and Islamic finance
Top 5 rankings in ASEAN league tables for fundraising, debt markets and M&A activities
#1 broker by market share in all ASEAN markets, and Tier-1 broker in HK
Brand recognition from clients as a leading ASEAN investment banking services provider
Use of leading-edge and innovative technology with seamless regional connectivity
Recognition from current and potential workforce as a top quartile employer
Strictly Private & Confidential Page 32
Investment Banking and Advisory
• Corporate Finance
• Strategic Advisory
• Equity Capital Markets
• Debt Capital Markets
• Mergers & Acquisitions
To be a regional financial powerhouse
Build out investment banking services across
the region
Equities
• Retail Stock Broking
• Institutional Stock Broking
• Futures and Options Services
• Equity and Commodity Derivatives and
Structured Products
Strengthen leadership position by leveraging
Maybank’s distribution and clients
Overview of Maybank Kim EngWe now have 2 core businesses in various markets
Strictly Private & Confidential Page 33
Maybank Kim Eng has operations in 11 countries
Notes:
1. Maybank Group also has presence in Vietnam
through its 20% owned associate An Binh Bank
2. Via 97.5% owned PT Bank Internasional
Indonesia Tbk & 1 branch via Maybank Syariah
Indonesia
3. Maybank has a 96.83% stake in BMI with PT
Perusahaan Pengelola Aset holding the
remaining equity
Source:
* Number of branches and services provided are
from company websites, annual reports and
management presentations. Information is
correct as of 16 Jun 2014.
Maybank Kim Eng
maintains distribution
presence in Hong
Kong, India, London
and New York and
has presence in the
Middle East through
its investment in
Anfaal Capital, which
is an Islamic
Investment Bank
located in
Saudi Arabia.
Brokerage / Investment Banking
Introduction to Maybank Kim Eng and
Maybank’s Presence in the RegionCommercial Banking
Retail Banking
Other Services
Thailand
Maybank Kim Eng:
58 branches
Malaysia
Maybank: 402
branches
Maybank Kim Eng: 6
branches
Singapore
Maybank: 22
branches
Maybank Kim Eng: 5
branches
Vietnam
Maybank: 2 + 1451
branches
Maybank Kim Eng: 8
branches
Philippines
Maybank: 79
branches
Maybank Kim Eng: 3
branches
Indonesia
Maybank: 4232
branches
Maybank Kim Eng: 6
branches
Strictly Private & Confidential Page 34
Maybank Kim Eng since acquisition by Maybank
6 Jan, Singapore: Execution and
Announcement of SPAs with Yuanta
and Kim Eng Chairman, Ronald Ooi
10 May, Singapore: Completion of
SPAs
23 May, Singapore: Despatch of
Offer Document/Launch of Singapore
MGO (Offer period of minimum 28
days)
24 May, Thailand: Launch of Thai
offer
29 Jun, Philippines: Entered into
SPA for Kim Eng Philippines
18 Jul, Thailand: Closing of Thai
Offer
29 Jul, Singapore: Exercise of right
of compulsory acquisition to acquire
the remaining Kim Eng Holdings
shares not already owned by
Maybank Investment Bank Holdings
4 Aug, Singapore: Kim Eng
Holdings is a wholly owned
subsidiary of Maybank and delisted
from SGX
17 Aug, Philippines: Completion of
Kim Eng Philippines cSPA
27 Oct, Philippines: Launch of
mandatory tender offer for Kim Eng
Philippines
29 Nov, Philippines: Closing of Kim
Eng Philippines offer
9 Dec, Philippines: Ownership in
Kim Eng Philippines rises to
99.1% upon crossing the tendered
shares
2011 2012 2013 2014 201511 May, Vietnam: Acquisition of call
option over remaining 51.45% stake in
Kim Eng Securities Vietnam (KEVS)
16 Jul, Malaysia: Maybank
Investment Bank tops the board in
Bloomberg's Malaysia League Tables
for the first half of 2012
26 Aug, Malaysia: Maybank
Investment Bank opens branch at
Mutiara Damansara
28 Aug, Vietnam: Maybank Kim
Eng and State Securities
Commission sign agreement to
strengthen collaboration in the
development of Vietnam’s
securities market
3 Jan, Vietnam: Maybank Kim Eng
Vietnam becomes the first 100%
foreign owned securities company in
Vietnam
5 Feb, Singapore: Maybank Kim Eng
appointed by People’s Bank of China
as an official market maker of RMB
against SGD
11 Mar, Philippines: Maybank ATR
Kim Eng launches MakeTrade
27 Mar, Malaysia: Maybank
Investment Bank launches EzyInvest
5 May, Vietnam: Maybank Kim Eng
doubles its charter capital to VND615
billion
8 May, Malaysia: Maybank
Investment Bank opens branch in
Penang and launches Market Insight
3 Dec, Malaysia: Maybank Kim Eng
and Cathay Securities Ink Alliance to
Expand Equities Footprint
15 Jan, Vietnam: Maybank Kim Eng
increased its charter capital to
VND829 billion
Strictly Private & Confidential Page 35 35
Mar 2015
Malaysia
Rights Issue
Joint Managing
UnderwriterJoint Underwriter
MYR 629 Million
Mar 2015
Thailand
Platinum Group
Initial Public
Offering (IPO)
Sole Financial Adviser
Sole Bookrunner
Joint Underwriter
THB 5.18 billion
Mar 2015
Turkey
KT Kira Sertifikalari
Varlik Kiralama A.Ş.
Sukuk WakalahJoint Principal Adviser
Joint Lead Arranger
Joint Lead ManagerJoint Bookrunner
Joint Shariah AdvisorSukuk Trustee
MYR 300 million
Mar 2015
Hong Kong
Samson Paper
Company Ltd
Syndicated Term
Financing
Joint Mandated Lead
ArrangerBookrunner
Joint Under Writer
HKD 728 million
Jan 2015
Malaysia
Sapurakencana TMC
Sdn Bhd
Syndicated Term
FinancingCoordinating Bank
Joint Mandated Lead
Arranger
Investment AgentSecurity Agent
USD 2.32 Billion
Jan 2015
Singapore
Pacific Andes
Resources Dev’t
Initial Public
Offering
Sole Financial Adviser
Sole Bookrunner
Joint Underwriter
SGD 195.5 Million
Feb 2015
Singapore
Hap Seng
Consolidated Berhad
Partial Offer on 51%
of Hafary Holdings
Limited
Sole Financial Adviser
UP TO SGD52.5 Million
Feb 2015
Malaysia
Weststar Aviation
Services Sdn Bhd
Syndicated
Murabahah Term
Financing & Islamic
Working Capital
FacilitiesMandated Lead Arranger
Lender
MYR 1.9 Billion
Mah Sing Group Berhad
Jun 2015
UAE
Sukuk Wakalah
Joint Lead Manager
Joint Bookrunner
Dubai Islamic Bank
USD750 Million
May 2015
Malaysia
Eco World – Ballymore
Holding Company Limited
Syndicated Loan
Joint Mandated Lead Arranger
Joint Bookrunner
UP TO GBP 1.1
Billion
May 2015
Malaysia
Malakoff Corporation
Berhad
Initial Public
OfferingTransaction Manager
Joint Principal Advisor
Joint Global Coordinator
Joint BookrunnerJoint Underwriter
UP TO MYR 1.5
Billion
Apr 2015
Singapore
Pacificlight Power Pte Ltd
/ Pacificlight Energy Pte Ltd
Syndicated Credit
FacilitiesFinancial Advisor
Mandated Lead Arranger
Underwriter
SBLC Issuing BankFacility/Security Agent
SGD 1.1 Billion
Syndicated Term
Loan
Mandated Lead Arranger
and Bookrunner
May 2015
Hong Kong
Fosun International
Limited
USD 800 Million
Jun 2015
Indonesia
PT Buana Finance
Syndicated Loan
Lender
USD50 Million
Jun 2015
Philippines
San Miguel Consolidated Power Corporation
7-Year Syndicated
Term Loan Facility
Lead Arranger
USD60 Million
Syndicated Term
Loan
Mandated Lead Arranger
and Bookrunner
HKD 2 Billion
July 2015
Hong Kong
Zhuhai Holdings Investment
Group Limited
RM550.2 Million
July 2015
Malaysia
Sunway Construction
Initial Public
Offering (IPO)
Joint Global Coordinator
Joint Bookrunner
Joint Underwriter
RM252.4 Million
Sept 2015
Malaysia
Al-Salam REIT
Initial Public
Offering (IPO)
Joint Placement Agent
USD550 Million
July 2015
Petron Corporation
Syndicated Term
Loan Facility
Mandated Lead Arranger
and Bookrunner
Philippines
RM1.6 Billion
Aug 2015
Multi-Currency
Islamic Medium
Term Notes
Programme
Joint Principal Adviser,
Joint Lead Arranger, Joint Lead Manager
Kuala Lumpur Kepong
Berhad
Malaysia
Malaysia
Apr 2015
IJM Corporation
Berhad
Privatisation of
IJM Land Berhad
Principal Adviser
MYR 1.98 Billion
Sept 2015
Projek SMART Holdings
Sdn Bhd
RM330 Million
Islamic Medium
Term Notes
Programme
Principal Adviser, Lead
Arranger, Lead Manager
Malaysia
Term Loan Facility
Mandated Lead Arranger and Bookrunner
USD780 Million
Sept 2015
Yinson Production
(West Africa) Pte Ltd
Singapore
RM 182 Million
Sept2015
Wing Tai Malaysia Berhad
Rights Issue
Principal Adviser
Malaysia
RM1.4 Billion
Aug 2015
Malaysia
Acquisition
Principal Adviser
Dayang Enterprise
Holdings Bhd
RM5 Billion
Aug 2015
Medium Term Notes
Programme
Joint Principal Adviser, Joint Lead Arranger, Joint
Lead
Malaysia
Genting Malaysia
Berhad
Apr 2015
Cititower Sdn Bhd
JV KLCC (Holdings) Sdn Bhd & QD Asia Pacific
Ltd
Syndicated Islamic
Term Financing
Joint Mandated Lead
Arranger
BookrunnerJoint Underwriter
Malaysia
UP TO MYR 3.2
Billion
Maybank Kim EngFY2015 Notable Deals
Strictly Private & Confidential Page 36
MULTI-CURRENCY SUKUK Joint Principal Adviser
Joint Lead Arranger
Joint Lead Manager
Joint Bookrunner & Listing Agent
Shariah Adviser
USD1 billion
Feb 2014
Malaysia
Export-Import Bank of Malaysia
Berhad
RETAIL SUKUK SR-006
Selling Agent
RP19.3 trillion
Mar 2014
Indonesia
Government of Indonesia
SYNDICATED TERM LOAN
Sole Mandated Lead Arranger
Bookrunner
Feb 2014
Malaysia
Media Chinese International
Limited
USD 500 million
Mar 2014
SUKUKJoint Principal Adviser
Joint Lead Arranger
Joint Lead Manager
Joint Bookrunner
Singapore
Bumitama Agri Ltd
Up to RM2 billion
SUKUK MURABAHAHPrincipal Advisor
Lead Arranger
Lead Manager
Facility Agent
RM I0 billion
Apr 2014
Malaysia
Maybank Islamic Berhad
RM 945 million
May 2014
Malaysia
INITIAL PUBLIC OFFERING (“IPO”)Joint Principal Adviser
Joint Global Coordinator
Joint Bookrunner
Joint Managing Underwriter
Joint Underwriter
Icon Offshore Berhad
PT Garuda Indonesia
INITIAL PUBLIC OFFERING
(“IPO”)Joint Global Coordinator Joint
Bookrunners
Joint Underwriter
USD100 million
June 2014
Malaysia
Boustead Plantation Berhad
CLUB DEAL
Mandated Lead
Arranger
USD 500 million
May 2014
Hong Kong
Poly Property Group Co. Ltd
SYNDICATED REVOLVING
LOANMandated Lead Arranger Bookrunner
USD 200 million
July 2014
Hong Kong
GDH Limited
Sukuk Murabahah
Joint Lead Manager
RM 1.5 billion
August 2014
Khazanah Nasional Berhad
Malaysia
Mar 2014
Hong Kong
Yue Xiu Enterprises Holdings Ltd
SYNDICATED TERM LOAN
Sole Mandated Lead Arranger
USD150 million
Apr 2014
Midciti Sukuk Berhad
ISLAMIC COMMERCIAL &
ISLAMIC MEDIUM TERM NOTEJoint Principal Adviser
Joint Lead Arranger
Joint Lead Manager
Joint Bookrunner & Facility Agent
Malaysia
Up to RM3 billion
International Container Terminal
Services, Inc.
Syndicated Term Loan
Lender
USD350.0 Million
July 2014
Philippines
JK Tech Holdings Ltd
Share Placement
Joint Placement Agent
SGD 60 million
August 2014
Singapore
Cagamas Global P.L.C.
Multi Currency Medium Term
Notes
Joint Lead Manager
Joint Bookrunner
USD 2.5 billion
Sept 2014
Malaysia
Syndicated Term Loan
Mandated Lead Arranger
USD 1 billion
Sept 2014
Hong Kong
Xiaomi H.K. Limited Cordlife Group Limited
Bond
Sole Lead Manager and Bookrunner
SGD 120 million
Oct 2014
Singapore
First Resources Ltd
Sukuk
Sole Lead Manager
RM 2 billion
Oct 2014
Singapore
Maybank Kim EngFY2014 Notable Deals
Strictly Private & Confidential Page 37
Maybank Kim Eng is recognised as a market leader
in broking and investment bankingThailand
Best Broker 2014 & 2015 (FinanceAsia)
Best Equity House 2015 & Best Retail Broker 2011-2015 (Alpha
Southeast Asia)
Most Improved Brokerage Over The Last 12 Months 2014 & 2015, Top 3
Best Overall Sales Service, Top 3 Best for Roadshows & Company Visits
(Asiamoney Brokers Poll Awards)
Best IPO Deal 2015 (Global Banking & Finance Review)
Best Brokerage House (The Asset Triple A Country Awards)
Malaysia
Best Investment Bank in Malaysia 2015 (Euromoney Awards for Excellence)
Best Domestic Equity House 2015 (Asiamoney Best Bank Awards )
Best Brokerage House 2015, Best for Event and/or Conference 2014 & 2015,
Best Sales Trading 2014 & 2015, Best Sales Person 2014 & 2015, Top 2 Best
Sales Person 2014 & 2015, Top 2 Most Independent Research Brokerage in
Malaysia 2015, Best Research Coverage and Best Analyst for Banks, Real
Estate, Technology, Hardware & Equipment, and Utilities 2014 & 2015.
(Asiamoney Brokers Poll Awards)
Best Project Finance Bank 2015, Best IPO Deal 2015 (Global Banking &
Finance Review)
Best Retail Broker 2014 & 2015, Best Institutional Broker 2014 & 2015 (Alpha
Southeast Asia)
Euromoney Innovation in Islamic Finance 2015 (Malaysia Airports Holdings
MYR1 billion sukuk ; Battersea Phase 3 Financing)
Syndicated Loan House of the Year (APLMA 4th Asia Pacific Syndicated Loan
Awards)
Best M&A Deal, Best Bank Bond (The Asset Triple A Country Awards)
Best Islamic Loan Syndication, Most Innovative Islamic Finance Deal – Highly
Commended, Best REIT Sukuk, Best Bank Capital Sukuk – Highly
Commended, Best Corporate Hybrid Sukuk / Best Local Currency Sukuk, Best
Corporate Sukuk, Best Quasi-Sovereign Sukuk, Best Islamic Deal (The Asset
Triple A Islamic Finance Awards 2015)
Best Equity Deal, Best Quasi-Sovereign Sukuk, Best Corporate Hybrid Sukuk,
Best Local Currency Sukuk, Best Project Finance Deal, Best Loan Syndication
(The Asset Triple A Islamic Awards 2016)
Singapore
Top 2 Most Improved Brokerage Over the Last 12 Months 2014 &
2015, Top 3 Best Sales Trader, Top 2 Most Improved Brokerage
(Asiamoney Brokers Poll Awards)
Best Retail Broker 2015 (Alpha Southeast Asia)
Best Mobile Trading Platform 2015 (Global Banking & Finance
Review)
Best Prime Broker – Boutique 2015 (HFM Asia Hedge Fund)
Most Preferred CFD Provider 2015 (ShareInvestor Awards)
Best Brokerage House (The Asset Triple A Country Awards)
Philippines
Best Broker 2015 (FinanceAsia)
Top 2 Best Local Brokerage 2014 & 2015, Top 3 Best Overall
Sales Service, Top 3 Most Improved Brokerage (Asiamoney
Brokers Poll Awards)
Best Retail Broker 2014 & 2015, Best Institutional Broker 2014 &
2015 (Alpha Southeast Asia)
Best Brokerage House (The Asset Triple A Country Awards)
Philippine Stock Exchange Bell Awards 2013-2015
Vietnam
Best Retail Broker 2011-2015 (Alpha Southeast
Asia)
The Vietnam Economic Times Poll for Most Trusted
Brands 2012-2015 (TIN&DUNG)
Best Mobile Trading Platform 2015 (Global Banking
& Finance Review)
Golden Dragon Award 2011-2015 (Vietnam
Economic Times)
Region
Best Broker in Southeast Asia 2014 & 2015 (Alpha Southeast
Asia)
Most Innovative Research House Asia 2015, Best Corporate
Access ASEAN 2015 (Global Banking & Finance Review)
Top 2 Best Salesperson serving hedge funds, Top 3 Most
Improved Brokerage Over The Last 12 Months in Asia
(Asiamoney Brokers Poll Awards)
International Project Finance Bank of the Year 2015 (Asian
Banking and Finance Wholesale Banking Awards)
Indonesia
Best Retail Broker 2014 & 2015, Best Institutional Broker 2014 &
2015 (Alpha Southeast Asia)
Best Institutional Broker 2015 (Global Banking & Finance Review)
Islamic Deal of the Year, Best Corporate Sukuk, Best New Sukuk,
Best Deal, Best Local Currency Sukuk - Highly commended (The
Asset Triple A Islamic Awards 2016)
Strictly Private & Confidential Page 38
Financial Highlights
Strictly Private & Confidential Page 39
2013
Jan-Dec
2014
Jan-Dec
2015
Jan-Dec
2015
Jan-Mar
2016
Jan-Mar
Total Asset 14,684,972 20,612,852 17,989,158 17,808,216 19,794,596
Total Liabilities 9,409,288 15,728,620 13,170,242 12,559,397 14,716,037
Total Shareholders' Equity 5,275,684 4,884,232 4,818,916 5,248,819 5,078,559
Total Securities and Derivatives
Business Receivables and accrued
interest receivables
12,903,150 16,006,386 16,036,298 15,749,493 16,550,102
Total Income 4,756,403 4,434,653 3,969,184 1,290,880 871,633
Net Income (Loss) 1,420,536 1,264,224 1,019,231 364,587 259,643
Net Income (Loss) per share2.49 2.21 1.79 0.64 0.45
The Weighted Average Number of
Ordinary Share (Thousand Share)570,814 570,814 570,814 570,814 570,814
Unit: Thousand Baht
Financial Statement
Strictly Private & Confidential Page 40
(Million Baht)(Million Baht)
Statement of Financial Position
Assets Liabilities & Equities
5,276 4,884 4,819 5,249 5,079
9,409
15,729
13,170 12,559 14,716
-
5,000
10,000
15,000
20,000
25,000
Dec.13 Dec.14 Dec.15 Mar.15 Mar.16
Shareholders' Equity Liabilities
14,685
20,613
17,989 17,808
19,795
12,962
18,902
16,482 16,386
17,495
-
5,000
10,000
15,000
20,000
25,000
Dec.13 Dec.14 Dec.15 Mar.15 Mar.16
Others
Securities Business Receivable - Net
Investment in Securities - Net
Cash and Deposit with Financial Institution
14,685
20,613
17,989 17,808
19,795
Strictly Private & Confidential Page 41
Common size 2013
(Jan-Dec)
2014
(Jan-Dec)
2015
(Jan-Dec)
2015
(Jan-Mar)
2016
(Jan-Mar)
Total Income 100% 100% 100% 100% 100%
Brokerage fees 76.08% 71.14% 66.11% 69.94% 69.88%
Fees and services income 1.52% 5.70% 4.25% 7.35% 1.49%
Gain(loss) on trading in securities 0.42% 0.78% 1.97% 0.10% -0.31%
Interest and Dividend Income 20.30% 20.87% 26.26% 21.53% 27.01%
Other income 1.68% 1.51% 1.41% 1.09% 1.93%
Total Cost 100% 100% 100% 100% 100%
Variable Cost 67.13% 62.94% 58.86% 64.20% 49.12%
Fixed Cost 32.87% 37.06% 41.14% 35.80% 50.88%
Total Assets 100% 100% 100% 100% 100%
Cash 5.97% 1.23% 2.16% 1.26% 4.11%
Investment 0.24% 1.97% 1.08% 0.46% 1.66%
Account Receivable 90.29% 93.21% 93.39% 93.72% 90.06%
Other Assets 3.51% 3.59% 3.37% 4.52% 4.17%
Total Liabilities 100% 100% 100% 100% 100%
Account Payable 32.74% 31.73% 18.10% 26.45% 23.43%
Accrued Expense 2.84% 5.15% 4.06% 5.27% 2.93%
Other Liabilities 64.42% 63.12% 77.84% 68.28% 73.64%
Common Size Financial Statements
Strictly Private & Confidential Page 42
Financial Ratios
Return on Equity (Annualized) Return on Assets (Annualized)
Gross/Net Margin Variable/Fixed Cost to Revenue
3.51%
7.59%
5.50%
Mar. 2014 Mar. 2015 Mar. 2016
68.40% 73.49% 65.40%
18.09%28.24% 29.79%
Mar. 2014 Mar. 2015 Mar. 2016
Gross Margin Net Margin
9.58%
28.78%
20.99%
Mar. 2014 Mar. 2015 Mar. 2016
40.61% 41.53%30.86%
36.71%23.16%
31.96%
Mar. 2014 Mar. 2015 Mar. 2016
Variable Fixed Cost
77.32%
64.69% 62.82%
Strictly Private & Confidential Page 43
4,756
4,435
3,969
1,291
871
2,9702,845
2,688
834
546
1,4211,264
1,019
365260
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
2013(Jan-Dec) 2014(Jan-Dec) 2015(Jan-Dec) 2015(Jan-Mar) 2016(Jan-Mar)
Total Revenues Total Expenses (excl. corporate tax) Net Profit (Loss)
Unit: Million Baht
Profit and Loss Statements
Strictly Private & Confidential Page 44
2013
December
2014
December
2015
December
2015
March
2016
March
Detail of Doubtful Account
Receivable
Account receivable (Old Margin
Loan) – NPL before 1999240,486 240,486 240,486 240,486 240,486
Account receivable ( New Margin
Loan) – NPL after 1999- - - - -
Account receivable - overdue
cash a/c before 1999807 807 807 807 807
Account receivable - overdue
cash a/c after 19994,608 4,951 4,839 4,618 4,839
Accrued interest receivables -
margin loans 14,185 14,185 14,185 14,185 14,185
Allowance for doubtful accounts -259,801 -260,099 -248,281 -259,730 -248,281
2013
December
2014
December
2015
December
2015
March
2016
March
NCR 47.99 32.73 38.51 43.69 36.17
Credit Outlook & NCR
Unit: Thousand Baht
Strictly Private & Confidential Page 45
Allowance for doubtful accounts and Bad Debt
Allowance for doubtful accounts 2013 2014 2015 2015 2016
December December December March March
Beginning balance of period 261,533 259,801 260,099 260,099 248,281
Add Doubtful accounts 2,914 442 347 -369 -
Less Reversal of doubtful accounts -4,646 -144 -12,165 - -
Ending balance of period 259,801 260,099 248,281 259,730 248,281
Bad Debt and Doubtful Accounts 2013 2014 2015 2015 2016
December December December March March
Provision for new Doubtful Debt 2,914 442 347 -369 -
Reversal of doubtful accounts -4,646 -144 -12,165 - -
Total -1,732 298 -11,818 -369 -
Unit: Thousand Baht
Strictly Private & Confidential Page 46Strictly Private & Confidential Page 46
Maybank Kim Eng Securities (Thailand) Plc.
HEAD OFFICE :
The Offices at Central World, 19th-21st and 25th Fl.,
999/9 Rama I Road, Pathumwan
Bangkok 10330, Thailand
Telephone : 66 (2) 658-6300
Fax : 66 (2) 658-6301
Customer Service Hotline :
Telephone: 66(2) 658-5050
Email: [email protected]
Website: www.maybank-ke.co.th
Strictly Private & Confidential Page 47
This presentation was prepared exclusively for the benefit and internal use of the recipient and does not carry any rights of reproducing any part of
this discussion paper to any party. This presentation is preliminary in nature, and is incomplete without any proper reference to, and should be viewed
solely in conjunction with, the oral briefing provided by The Maybank Group. No part of this document may be reproduced or copied in any form or by
any means without prior written permission or consent of The Maybank Group.
In preparing this presentation, we have assumed that all the information in all publicly available sources and those provided by the management and
promoters are accurate and reasonable. Accordingly, the information has not been independently verified. No warranty or representation, express or
implied, is made with respect to the information set out in this presentation, nor will The Maybank Group be responsible for the consequence of
reliance on any opinion or statement set out herein.
Please note that this presentation is an outline on an indicative basis and does not represent a commitment from The Maybank Group to finance on
behalf of the recipient of this presentation in any form. This presentation would include but are not limited to those summarised herein and are
subject to market conditions at the time of documentation.
This presentation was prepared based on regulations and guidelines currently in force which are subject to changes from time to time. If the time for
the implementation of our recommendation extends into the future, our findings and recommendations may not necessarily apply due to changing
business and regulation conditions. Accordingly, we suggest continual discussions, especially prior to any implementation of our recommendation to
confirm its appropriateness.
Prior to entering into any transaction contemplated hereby (a “Transaction”) you should determine, without reliance upon The Maybank Group, the
economic risks and merits (and independently determine that you are able to assume these risks), as well as the legal, tax and accounting
characterisations and consequences of any such Transaction. In this regard, by accepting this presentation, you acknowledge that (a) we are not in the
business of providing (and you are not relying on The Maybank Group for) legal, tax or accounting advice, (b) there may be legal, tax or accounting risks
associated with any Transaction, (c) you should receive (and rely on) separate and qualified legal, tax and accounting advice and (d) you should apprise
senior management in your organisation as to such legal, tax and accounting advice (and any risks associated with any Transaction) and our disclaimer
as to these matters.
Disclaimer