Nitipon segues into securities

Nitipon segues into securities

Beauty chain buys into Trinity Watthana

Nitipon Chaisakulchai, owner of beauty clinic chain Nitipon Clinic, has jumped into securities brokering by buying a 19.44% stake in SET-listed Trinity Watthana Plc (TNITY) from Krungthai Bank (KTB).

"With the number of directors and change in major shareholder structure, there is no effect on the management structure or business operations," Trinity said in a filing with the SET yesterday, without disclosing the deal's value.

Trinity's board consists of 11 directors including two representatives of KTB.

The firm is a holding company whose subsidiaries include Trinity Securities Co and Trinity Advisory 2001 Co.

Following the transaction, Mr Nitipon is Trinity's largest shareholder, followed by Com-Link Co at 14.19%, the Kovithvathanaphong family at 4.83% and other shareholders making up the rest. KTB is no longer a shareholder.

"We're confident both groups will support each other after the sale, and we can join hands in doing business in the future, particularly investment banking," Trinity chief executive Pakhawat Kovithvathanaphong said in a separate statement.

The company more than doubled its net profit to 49.2 million baht for January to March from 20 million in the same period last year.

Its revenue shot up 43% over the same period last year to 228 million baht for the first quarter.

Net profit last year surged to 192 million baht from 138 million in 2013 and 117 million in 2012.

Mr Pakhawat attributed the company's higher earnings to its business diversification strategy spanning securities brokerage, investment banking, private funding, debt instrument dealing and investment.

The company's dividend yield for 2014 was 13.5%, far above the 3.9% average yield of finance and securities companies as well as the 3% average yield for SET-listed companies.

Trinity is one of the top listed companies to pay dividends steadily over the past three years.

TNITY shares closed yesterday on the SET at 7.60 baht, up 60 satang, in trade worth 24 million baht.

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