Thai securities company eyes VN partner

Thailand’s Seamico Securities plans to form a joint venture with a Vietnamese partner to expand its business opportunities in Indochina, the company’s Chief Executive Officer said.

Seamico CEO Chaipatr Srivisarvacha said the company was in talks to take up to a 50 per cent stake in one of three Vietnamese brokers, according to local media on Monday.

"Despite sharp declines in share prices in the Vietnamese market, we still see strong growth opportunities," Chaipatr was quoted by the Bangkok Post as saying.

He said that any partner selected by Seamico "must be financially strong and have investments in good assets", adding that the Bangkok-based company would hope to close a deal by the end of the year.

The company’s market share increased to 4.18 per cent at the end of June, while brokerage operations accounted for around 70 percent of its total revenues.

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