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INVESTING
NUNTAWUN POLKUAMDEE
BFIT Securities is hopeful that it can boost its market share to 4% by the end of the year through a strong push in the online trading segment.
Prasit Srisuwan, the BSEC chief executive officer, said the company would open several low-cost cyber branches this year to increase its customer base. The branches would cost 100,000 to 200,000 baht each, and serve as trading kiosks for online investors.
''We hope to boost our trading accounts by 5% to 10% this year from 5,000 to 6,000 now,'' Mr Prasit said.
Market share, which stood at 3.2% at the end of the first quarter, is projected to rise to 4% by the end of the year.
''Even though market sentiment is quite poor and very volatile due to political uncertainties and rising oil prices, we are committed to boosting revenues from other businesses while controlling costs,'' Mr Prasit said.
Brokerage income, which accounted for 80% of total revenues in 2007, is projected to decline further as a proportion of total revenues thanks to increased diversification in investment banking, derivatives and proprietary trading activities.
BSEC, 49% owned by Bangkok First Investment and Trust, reported second quarter earnings of 34.72 million baht, on par with 34.1 million last year. First half profits rose to 90.2 million baht, up from profits of 59.5 million last year.
Revenues rose sharply to 401.36 million baht in the first half from 296.39 million the same period last year, thanks to contributions from ANT (Thailand), a new subsidiary established in the first quarter to provide brokerage services on the Agricultural Futures Exchange of Thailand.
Shares of BSEC on the Stock Exchange of Thailand closed Wednesday at two baht, down eight satang, in trade worth 1.83 million baht.
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