KTBST and Haitong International Announce Collaboration on Global Business Expansion

Event Calendar Press Releases Thursday July 11, 2019 11:46
Bangkok--11 Jul--Worklink PR

Win Udomrachtavanich, Ph.D., Executive chairman of KTB Securities (Thailand) Public Company Limited or KTBST said that "KTBST has signed a collaboration agreement with Haitong International Securities Group (Singapore) Private Limited ("Haitong International (Singapore)"), a subsidiary of Haitong International Securities ("Haitong International", stock code: 665.HK) earlier this year. This agreement marks as a cross-border collaboration covering Thailand, Korea, China, Hong Kong, and Singapore."

KTBST is a financial institution in Thailand, which is a subsidiary of KTB Investment & Securities (South Korea) or KTBIS – a core business of KTB Group (South Korea), KTBST has entered into this agreement made on behalf of KTB Group using KTBST as a bridge for the collaboration. Haitong International is an international financial institution with established presence in Hong Kong, Singapore, New York, London, Tokyo, Sydney and Mumbai.

The purpose of this collaboration is to perform and enhance mutual investment banking and securities brokerage services. The collaboration will initially involve 4 areas; Equity Research, Asset Management, Investment banking, and Wealth Management products. It is an important step in expanding KTBST's businesses internationally and seeking opportunities to deliver the best investment services and products for its clients in foreign markets, on its way to become "the outstanding financial institution in Thailand".

Win said, "we decided to cooperate with Haitong International because we both have an independent organization structure and are not a subsidiary of any commercial bank. We have the similar management structure and working people. We also have the expertise in business and a deep understanding of capital markets as well as similar financial services. Together, we believe that we can improve and expand our businesses to serve our clients' needs better.

We also see that Haitong International has a well-established financial service platform providing corporate finance, wealth management, asset management, institutional client and investment banking business, and a full spectrum of financial products and services. Thus through this collaboration, we can ensure our role as a bridge linking up the Chinese and global capital markets for Thai and Korean investors."

Under the agreement, on brokerage business and investment banking collaborations, KTBST have plans to co-ordinate with Haitong International to arrange a roadshow for its existing and potential clients who are interested in the Chinese market, both offshore and onshore. Likewise, for Haitong International, KTBST will facilitate introducing investment opportunities in Thai market to its clients. As mentioned, KTBST will also serve as a collaboration bridge between KTBIS (South Korea) and Haitong International, building a platform for Korean investors who seek investment opportunities in China's market.

On research collaboration, KTBST aims to strengthen its research coverage thus fulfilling the area that it is not strong at. Under the collaboration, its investment research capability will surely improve to meet international standards, especially for the coverage on China's market.

On product collaboration, currently KTBST has key strength on offering investment opportunities to its clients on European and US markets related products. Through the partnership with Haitong International, KTBST will further extend its product coverage and offering to China and Asia markets, especially China's market through Haitong International Asset Management – one of the core businesses of Haitong International. On the first launch KTBST will introduce a new unique investment opportunity in Chinese USD fixed income strategy, which offers a multi-tranche structure and flexible investment opportunities for investors with different risk/return preference.

Win said: "We have a positive view for China and would recommend 'overweight' for China." The valuation look slower with P/E at 13.17 and EPS growth remains strong at 16.90%, despite IMF cutting its 2019 economic growth forecast from 6.3% to 6.2% as a result of trade war escalation. China stock market still have limited downside as Chinese government is likely to implement more policies to stimulate its economy, while trade talks outcome remain in doubt. A possible trade deal, opening up of China's financial sector and other positive long term developments, makes the Chinese stock market an attractive one."

While the trade war has affected the outlook for China, the fundamentals remain strong and the Chinese economy has proven to be remarkably adaptable and resilient. Such epitomizes the internationalization of Chinese companies that an increasing number of Chinese real estate companies are going abroad to seek various financing opportunities, such as REITs, high-yield bond and IPO, where Haitong International has been taking an active part.

Mr. Chen Xuan, CEO of Haitong International (Singapore) and Head of Haitong International Private Wealth Management said, "Based in Hong Kong with global presence, Haitong International strives to act as a bridge between Chinese and overseas capital markets. The partnership with KTBST will pave the way for Haitong International into Thailand market as well as South Korea market. I believe the joint effort will offer strong support for both parties to expand their international business in Asia and to better serve their global clients. "

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