BANGKOK: Kim Eng Securities (Thailand) Pcl, Thailand's largest brokerage, expects higher turnover on the Thai stock market to lift profits this year, when it might get a takeover offer from Malaysia's Maybank.
MALAYAN BANKING BHD [] (Maybank) is buying a 44.6 percent stake in its Singaporean parent, Kim Eng Holdings, but it has not said whether it would also move for the subsidiaries dotted around Southeast Asia.
Montree Sornpaisarn, chief executive of Kim Eng Securities (Thailand), said on Friday, Jan 28he was looking forward to an "exciting year", anticipating that the effective takeover of the Singapore parent would result in a tender offer for his company.
"It really is a perfect combination," Montree said in an interview."
"Once Maybank has finished with the offer in Singapore, giving them a controlling stake of over 50 percent, they'll make a tender offer for Kim Eng here," he said. "The price might not be that much higher than the current market price."
It shares stood at 14.50 baht at the midsession break on Friday, giving it a market capitalisation of $273 million.
On Thursday, Kim Eng Securities (Thailand) posted a 13 percent rise in 2010 net profit to 806 million baht ($26 million), beating market expectations.
"With a 10-15 percent rise in average daily trade expected this year, we should see a higher profit based on that scenario," Montree said. - Reuters
MALAYAN BANKING BHD [] (Maybank) is buying a 44.6 percent stake in its Singaporean parent, Kim Eng Holdings, but it has not said whether it would also move for the subsidiaries dotted around Southeast Asia.
Montree Sornpaisarn, chief executive of Kim Eng Securities (Thailand), said on Friday, Jan 28he was looking forward to an "exciting year", anticipating that the effective takeover of the Singapore parent would result in a tender offer for his company.
"It really is a perfect combination," Montree said in an interview."
"Once Maybank has finished with the offer in Singapore, giving them a controlling stake of over 50 percent, they'll make a tender offer for Kim Eng here," he said. "The price might not be that much higher than the current market price."
It shares stood at 14.50 baht at the midsession break on Friday, giving it a market capitalisation of $273 million.
On Thursday, Kim Eng Securities (Thailand) posted a 13 percent rise in 2010 net profit to 806 million baht ($26 million), beating market expectations.
"With a 10-15 percent rise in average daily trade expected this year, we should see a higher profit based on that scenario," Montree said. - Reuters
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