Deputy managing director Sathit Wannasilapin said the company had as its goal to be among the top 10 brokers in terms of trading volume over the next few years.

He said Siam City Securities had set aside about Bt1 billion as margin loans for its customers this year.

For the broker's investment-banking business, Sathit said the company now served as a financial adviser to four

firms wanting to raise Bt10 billion worth of funds total through initial public offerings.

One is a property developer, another is an energy firm, and the other two are engaged in the industrial sector.

It is also acting as a financial adviser to two firms that are restructuring their financial arrangements and another one

or two involved in mergers and acquisitions.

Assistant managing director Sukit Udomsirikul yesterday said the broker was expected to increase its ratio of institutional-investor clients from 10 per cent last year to 15 per cent this year.

It will recruit another 120-150 marketing officers, from 90 at present, he said. Siam City Securities last year had a stock-trading market share of 0.77 per cent.

The company shut down a trading room in Khon Kaen last year but opened a new one in Songkhla.

The broker's research house has revised downwards the Stock Exchange of Thailand Composite Index target this year from 680-780 points to 580-760. Political uncertainty will be the greatest risk factor affecting the Thai bourse. Average daily trading volume this year will decline to Bt12 billion-Bt13 billion, from Bt16 billion last year.

The research house will reduce its estimates of earnings growth for listed companies for this year from 1.58 per cent, on the back of slower economic growth, an absence of fresh positive factors and weakening domestic purchasing power.

Siriporn Chanjindamanee

The Nation