Bangkok--Feb 25--ASIA PLUS SECURITIES
The Directors of Asia Plus Securities Pcl today announced that for the full year 2004 the company recorded a net profit after tax, but before extraordinary items, of 797.2 million baht. This result compares to earnings of 786.3 million baht, for the full year 2003.
The directors also approved recommending to shareholders that the company declare a dividend of 3.8 baht per share, out of 4.56 baht per share net profit. In addition, and subject to shareholders’ approval, the directors proposed that the company undertake a 10 for 1 stock split and then issue a free warrant for every 4 shares to all shareholders. The warrants would have a three-year life and an exercise price of 2.0 baht, exercisable at the end of every quarter.
Dr. Kongkiat Opaswongkarn, CEO of Asia Plus Securities, said “this dividend, stock split and free warrants provides a reward to all existing shareholders”. He noted that by splitting its stock, the company’s shares would in future be more appealing to wider investing public. Dr. Kongkiat remarked “the exercise of these warrants over the next three years will enable the company to raise almost one billion baht in funds for the expansion of new financial businesses”.
Commenting on the full year results Khun Chali Sophonpanich, Chairman of Asia Plus Securities, said that “The combination of Asia Securities and Asset Plus is proving a great success. The 2004 results are very pleasing. The combined strength of the two companies helped us deal with pressing events such as bird flu and violence in the south which made market conditions in 2004 quite difficult”. The company’s market share in 2004 averaged 9.24% for the year making Asia Plus the number 2 ranked broker.
For the full year of 2004 the company had earnings, before extraordinary items, of 797.2 million baht; while earnings, after extraordinary items, showed a loss of 3,319.2 million baht because of the write-off of goodwill arising from the merger of Asia Securities and Asset Plus in the second quarter of 2004.
For Immediate Release Contact
Dr. Patchara Surajaras
www.asiaplus.co.th
Telephone 0-2285-1790
[email protected] End.