Quarterly Report
Balance Sheet & Income Statement
of
Securities Companies in Thailand
(as of the end of June 2009)
Source : SEC / SET
1
Table 1 : Market Indicators
2008
2009
Q1
Q2
Q3
Q4
Q1
Q2
817.03
768.59
596.54
449.96
431.50
597.48
Market Cap. (mil. baht) *
6,424,241
6,095,900
4,760,818
3,590,376
3,460,766
4,773,404
Total Turnover (mil. baht)
1,212,653
1,203,458
774,412
790,706
539,936
1,260,043
Avg. Daily Trading Value
(mil. baht)
18,880
20,056
12,212
12,440
8,660
21,323
No. of Listed Companies *
474
480
479
476
474
475
No. of Listed Securities *
582
592
588
580
579
581
No. of Securities
Companies *
43
43
43
43
45
45
No. of SET’s Members *
39
39
39
39
39
39
No. of TFEX’s Members *
27
27
36
36
40
41
SET Index *
* at the end of the period
2
Table 2 : Aggregate Balance Sheet of Securities Companies
(unit :mill. baht)
2008
Q1
Q2
2009
Q3
Q4
Q1
Q2
140,403
162,018
136,253
145,514
142,066
155,132
Liabilities
72,798
94,947
70,176
82,107
80,977
95,455
Equity
67,605
67,071
66,077
63,407
61,089
59,676
Asset
3
Table 3 : Aggregate Income Statement of Securities Companies
2008
(unit : mill. baht)
Q1
Brokerage - Securities
Q2
2009
Q3
Q4
Q1
Q2
5,354
3,688
3,302
3,219
2,152
4,966
238
79
250
368
247
325
41
282
28
46
30
45
Financial Advisory
139
63
93
177
159
161
Gains on Trading - Securities
131
227
-64
-16
-257
337
Gains on Trading – Derivatives *
194
37
-3300
638
-19
292
Interest and Dividend
465
438
524
515
357
359
Others
698
354
536
472
400
427
7,260
5,168
4,340
5,418
3,069
6,917
Brokerage - Derivatives
Underwriting
Total Revenue
Expenses on Borrowing
128
100
141
133
87
69
Fees & Services Expenses
385
367
320
426
269
413
36
-2
56
2,119
131
-59
2,656
1,909
2,129
2,138
2,015
2,880
809
532
798
793
770
773
583
4,595
381
3,287
595
807
532
604
4,039
6,417
3,804
4,680
695
459
147
257
27
498
1,970
1,422
155
-1,257
Provision for bad debts/ doubtful account
Personnel Expenses
Premises & Equipment
Other Expenses
Total Expenses
Corporate Tax
Net Profit
-762
1,734
4
Figure 1 : Assets, Liabilities and Equity of Securities Companies
200,000
162,018
Btm.
150,000
140,403
136,253
155,132
142,066
145,514
95,455
94,947
100,000
82,107
72,798
67,605
67,070
80,977
70,176
66,077
63,407
61,089
59,676
50,000
0
Q1 2008
Q2 2008
Q3 2008
Asset
Q4 2008
Liabilities
Q1 2009
Q2 2009
Equity
5
Figure 2 : Assets of Securities Companies
180,000
160,000
140,000
16,970
Btm.
120,000
100,000
80,000
60,000
40,000
20,000
25,746
16,223
16,465
39,354
30,713
58,271
35,391
42,037
42,332
9,090
23,104
13,035
7,780
22,207
24,158
5,858
8,301
20,700
20,383
6,311
5,984
10,544
20,745
24,448
20,830
6,582
6,475
37,378
37,055
36,443
45,154
46,363
50,618
Q1 2008
Q2 2008
Q3 2008
Q4 2008
Q1 2009
Q2 2009
6,833
6,472
0
Cash
Investment in Debt & Equity
TCH Receivable
Premises & Equipment
L/T Deposits
Investment in Subsidiary
Securities Business Receivable
Others
6
Figure 3 : Assets Structure of Securities Companies
Premises &
Equipment
2%
Others
12%
Cash
27%
Securities
Business
Receivable
30%
Others
22%
Premises &
Equipment
1%
Securities
Business
Receivable
17%
L/T Deposits
5%
Investment in
Debt & Equity
16%
Investment in
subsidiary
2%
TCH Receivable
6%
TCH Receivable
6%
Investment in
Debt & Equity
14%
Investment in
subsidiary
3%
Q1 2008
Premises &
Equipment
1%
Others
10%
Premises &
Equipment
1%
L/T Deposits
4%
Investment in
Debt & Equity
15%
TCH ReceivableInvestment in
subsidiary
8%
2%
Q2 2008
L/T Deposits
4%
Q1 2009
Cash
23%
Securities
Business
Receivable
37%
Cash
33%
Others
17%
Securities
Business
Receivable
23%
TCH Receivable
7%
Cash
33%
Investment in
Debt & Equity
13%
L/T Deposits
4%
Investment in
subsidiary
2%
Q2 2009
7
Figure 4 : Liabilities of Securities Companies
100,000
23,084
80,000
22,596
Btm.
60,000
27,073
19,576
41,523
33,578
53,014
40,000
36,545
55,751
37,465
36,989
31,832
20,000
7,434
0
11,206
6,288
6,223
7,643
6,847
3,969
4,783
Q1 2008
Q2 2008
Q3 2008
Q4 2008
Borrowings
TCH Payables
Securities Business Payables
6,010
4,400
8,002
Q1 2009
Q2 2009
4,629
Others
8
Figure 5 : Liabilities Structure of Securities Companies
Borrowings
5%
Borrowings
9%
TCH Payables
7%
TCH Payables
10%
Others
31%
Others
41%
Securities
Business
Payables
50%
Q1 2008
Q1 2009
Borrowings
5%
Borrowings
8%
Others
24%
Securities
Business
Payables
47%
TCH Payables
12%
Securities
Business
Payables
56%
Q2 2008
Others
28%
TCH Payables
8%
Securities
Business
Payables
59%
Q2 2009
9
Figure 6 : Revenue of Securities Companies
9,000
8,000
7,000
Btm.
6,000
698
465
427
359
325
629
354
438
265
5,000
4,000
472
536
524
515
622
5,593
3,000
3,765
3,552
3,586
400
357
5,292
2,399
2,000
1,000
Q1 2008
Brokerage
Q2 2008
Underwriting
Q3 2008
Financial Advisory
Q4 2008
Proprietary Trading
Q1 2009
Interest and Dividend
Q2 2009
Others
10
Figure 7 : Revenue Structure of Securities Companies
Proprietary
Trading
4%
Interest and
Dividend Others
10%
6%
Financial
Advisory
2%
Underwriting
1%
Interest and
Dividend
10%
Brokerage
77%
Financial
Advisory
4%
Others
11%
Proprietary
Trading
8%
Brokerage
66%
Underwriting
1%
Interest and
Dividend
8%
Proprietary
Trading
5%
Q1 2008
Interest and
Dividend
5%
Others
7%
Financial
Advisory
2%
Financial
Advisory
1%
Underwriting
5%
Q1 2009
Brokerage
74%
Q2 2008
Underwriting
1%
Others
6%
Proprietary
Trading
9%
Brokerage
77%
Q2 2009
11
Figure 8 : Expenses of Securities Companies
6,500
6,000
807
5,500
793
5,000
4,500
604
583
Btm.
4,000
3,500
595
809
381
3,000
798
532
773
770
532
2,500
2,000
2,138
2,656
1,500
1,909
2,129
2,119
2,880
2,015
1,000
500
385
367
320
426
131
269
413
Q1 2008
Q2 2008
Q3 2008
Q4 2008
Q1 2009
Q1 2009
0
Expenses on Borrowing
Fees & Services Expenses
Provision for bad debts / doubtful a/c
Personel Expenses
Premises & Equipment
Other Expenses
12
Figure 9 : Expenses Structure of Securities Companies
Expenses on
Borrowing
Fees &
3%
Others
Services
Expenses
Expenses
13%
8%
Premises &
Equipment
Expenses
18%
Expenses on
Borrowing
2%
Other Expenses
14%
Fees &
Services
Expenses
7%
Provision for
bad debts /
doubtful a/c
3%
Premises &
Equipment
20%
Personel
Expenses
54%
Personel
Expenses
58%
Q1 2008
Expenses on
Borrowing
3%
Fees &
Others
Services
Expenses
Expenses
12%
11%
Premises &
Equipment
Expenses
16%
Q1 2009
Expenses on
Borrowing
1%
Fees &
Services
Other Expenses Expenses
9%
13%
Provision for
bad debts /
doubtful a/c
1%
Premises &
Equipment
16%
Personel
Expenses
58%
Q2 2008
Personel
Expenses
60%
Q2 2009
13
Figure 10 : Net Profit and ROE of Securities Companies
2,500
10%
1,970
2,000
1,734
1,422
1,500
5%
1,000
Btm.
2.91%
2.91%
2.12%
500
155
0
Q1 2008
Q2 2008
0.23%
Q3 2008
Q4 2008
-500
Q1 2009
0%
Q2 2009
-1.25%
-1.98%
-1,000
-762
-1,257
-1,500
Net Profit
-5%
ROE
14