Singapore-based DBS Bank will continue to invest and operate in Thailand, especially in the securities business, which offers good opportunities for future growth, says Sim S Lim, chairman of DBS Vickers Securities (Singapore).
DBS Vickers Securities is ready to bring its new stock investment tool to Thai investors, Mr Lim said during a visit to Bangkok yesterday.
The company wants to strengthen its presence in Thailand and will bring hybrid robo-advisor digiPortfolio as well as various unit trusts, he said. The investment tool has proven successful in Singapore, said Mr Lim.
The new investment platform will be launched in Thailand in the second quarter this year, with a minimum investment of S$1,000 (26,000 baht). Retail investors can use it for both domestic and overseas investment.
"We are bringing DBS's world-class digital and investment advisory capabilities from Singapore to the Thai market," he said.
"In Singapore, this platform has been very useful to investors as they can invest in stock, exchange-traded funds and bonds worldwide."
Assets under management at DBS Vickers Securities (Singapore) have tripled since this tool was launched in April 2020, said Mr Lim.
"We hope to provide Thai investors advice via our investment tool, supporting their wealth growth over the long run," he said.
In Thailand, DBS Vickers Securities' business declined the past three years amid fierce competition and poor market sentiment. The company modified its business model through digital technology and hiring more marketing and investment staff. It has 160 employees in Thailand.
"We are committed to strengthening our presence in Thailand," said Mr Lim. "We believe in the Thai economy and the potential of the market. The political situation here is quite stable and we are well-positioned to serve Thai investors' growing demand for financial literacy and new investment opportunities."
According to Setsmart, DBS Vickers Securities has a market share of 1.72% this year to date, ranking 16th among 37 securities firms in Thailand.
An industry source who requested anonymity said DBS Vickers Securities is applying for a new licence for asset management, and is projected to start operations in the second quarter of this year.
"The securities business has changed. We must offer related businesses other than brokerage such as wealth management, advisory and underwriting," said Mr Lim.