Bangkok--7 Sep--Kim Eng
KEST strengthens its leading position by announcing Thailand’s first brand new fund KECASH for higher returns and more convenience of investors. Moreover, KEST is preparing forB/E programs and Derivatives Warrant to be launched this year
Mr. Montree Sornpaisarn, Chief Executive Officer Kim Eng Securities (Thailand) Plc. Or KEST, disclosed that “The overview of securities business in Thailand currently is still highly competitive. Investors tend to focus on full range of brokerage services in term of highest return , including comprehensive research reports and quality research, stable trading system and operations, SBL facility, margin loan facility, and add-on services such as channels of new investment and financial products to enhance returns for clients.
Despite of being leading position as No. 1 broker for the past 8 consecutive years, with largest market share of 12.5% for first half of this year. KEST has not ceased to step forwards and continuously offer new investment services as can be seen from the establishment of Kim Eng Asset Management (Thailand) Co., Ltd. or “KEAT” for full range of investment and better return for clients.
With 100-million-baht registered capital in KEAT, Kim Eng Securities (Thailand) Plc. possesses 100% stakeholding approved by the Securities and Exchange Commission (SEC) to engage in the business, establish and manage funds. The first fund for general public is “KECASH” which will be invested in money market with low risk, and focus on value added for the benefit of investors who also are stock investors.. “Thanks to KEAT team who dedicated huge efforts to innovate this product, It will help to manage stock market investors’ cash more efficiently.”, Mr. Montree concluded.
Mr. Montree Sornpaisarn also disclosed that KEST’s future plans include issuing B/E by Kim Eng Securities (Thailand) for general investors and Derivatives Warrant by this year. The company is on the process of submitting filings B/E to the SEC which is expected to launch B/E by Q4 2010.
Mrs. Boonporn Buranasilpin, CEO — retail business of KEST also confirmed to the press that “We believe that KECASH will help to enhance return for our clients and prospects. Clients will not waste money without interest any more. Our aim is to maximize returns for our clients fairly for whatever we can do. KECASH will be the solution to provide better return to our clients when they switch their investments into cash.”
Mr. Pongpan Apinyakul, Chief Executive Officer, Kim Eng Asset Management (Thailand) Co., Ltd. or KEAT revealed that “KEAT is founded in response to the will of Kim Eng Securities (Thailand) Plc. to reinforce the company’s investment business and complete full range of services offered by Kim Eng Securities and its affiliates, generate highest benefits to investors and maintain the leading position in securities business.
Being a part of Thailand’s number one broker with strong reputation, KEAT’s funds are operated by experienced fund managers with cleart investment policies. In addition, KEAT also focus on creative financial product innovation in order to meet clients’ satisfaction along with diversified investment choices by emphasizing on clients’ highest investment returns..
KECASH, a money market mutual funds, will focus on investment in short-term debt instruments with tenure less than 1 year, reasonable yield and high liquidity enough to be available for trading every day and requires no tax charge from investors.
KECASH is the new productof mutual fund which willgenerate high return to investorsinnovated and developed by KEST’s ’s and KEAT’s teams joint efforts between the stocks trading and unit trusts and regarded the first of its kind in Thailand”, said Mr. Apinyakul.
What is more to differentiate KECASH from other normal mutual funds is unit holders can use their unit trusts to be used as collateral (15% of credit line) for trading cash accounts. . Likewise, stock trading customers will be able to transfer cash from stock selling to investment into the fund orto transfer the money market fund for stock purchasing for any securities on the settlement dates automatically.
As a result of stock and unit trading system development collaboration between Kim Eng affiliates, KECASH’s strength is that the money received from stock trading is automatically switched to KECASH purchase order by Kim Eng’s Auto Settlement innovation. Compared to other types of investment, this helps investors to receive benefits once they make unit purchase right on T+3 day.
KECASH is started with 5 billion baht in value, investing in the Thai government’s bonds i.e. financial negotiable note, government bonds, Bank of Thailand bonds, savings and/or cash bonds and trustworthy private-sector bonds etc. Unit investment is allowed in every working day. Investors receive return in the next day after purchase order is issued. KECASH units are predicted to launch during September 14-22, 2010 at all Kim Eng marketing staff and all Kim Eng Securities branches nationwide.
For further queries, please contact call center at 0-2658-5050.
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