Opportunity Day : 24 กุมภาพันธ์ 2554
CGS Overview Successful research and brokerage operation supported by the highest levels of efficiency & professionalism… • Ranks 2 nd with 6% market share (as of Dec 2010) – highest growth performer in the industry • Has the highest distribution with 50 branch offices nationwide • Serves more than 50,000 clients • Has an extensive range of financial services • One of the top 5 best Thailand brokerage 2007 selected by Asia Money (Broker poll). • One of the top 5 leaders in Internet trading • CGS Analyst achieved “ Best retail Strategist Award” in 2007 awarded by Securities Analyst Association CGS will continue to provide a larger, more comprehensive range of financial products and services through strategic acquisitions The investment in MFC Asset Management PLC, allowed CGS to extend its service offering beyond securities brokerage, such as mutual fund and private fund management. The company aims to take advantage of such opportunities in the future to widen its product portfolio and support its objective of ACCESSIBILITY for its retail customers CGS will increase the momentum to become a leading retail stock broker in Thailand – in number of accounts and market share 2009 and 2010 were an exceptional growth year for CGS which was a result of significant organization and operational changes, increased IT capabilities and shifts in key management positions. CGS intends to increase this momentum going forward
2010 Highlights Net Profit of THB 194.04 million increased by THB 174.37 million compared to a profit in 2009 : THB 19.67 million Retained earnings of 386.31 million baht as at December 31, 2010 Total income of THB 1,611.47 million, an increase of THB 713.95 or 79.55% on the prior year Total assets increased to THB 4.3 billion, due to cash paid in share buy back Total Shareholder’s equity is Baht 2,963.74 million. NCR (Net Capital Ratio) is 174.7 %, being 167.7% in excess of statutory requirements First Cash dividend payment in past 11 years at Baht 0.10 per share. 3
Financial Performance Income Statement Year ended 31 December Income categories 2010 2009 THB (M) THB (M) Brokerage Fees from Securities Business 1,221 756.2 Brokerage Fees from Derivatives Business 70.5 38.5 Fees and services income 16.5 23.6 Gain on Securities Trading 164 (92.6) Gain on Derivatives Trading 0.58 Interests & Dividends 35.4 49.2 Interest on Margin Loans 50 32.1 Gain on investment in subsidiary 45.7 26.5 Arrangement fee 0 44.3 Reversal of allowance for impairment of investments 0 19.5 Other income 6.7 18.3 Total Income 1,611 889.0 4
Financial Performance Income Statement Year ended 31 December Expenses categories 2010 2009 THB (M) THB (M) Expenses on borrowing 10.6 4.1 Fee and service expenses 96.3 55.3 Bad debts and doubtful accounts 16.2 33.1 Personnel expenses 681 407.6 Property, premises and equipment expenses 184.5 153.3 Taxes and duties 2.0 1.6 Management’s benefit and remuneration 274 57.0 Information and communications expenses 43.4 32.3 Branch amalgamation expenses 0 5.2 Loss on write off of goodwill in Investment in Associate 0 63.1 Other Expenses 109.4 65.4 Total Expenses 1,417 877.9 Net Profit 194.04 19.67 5
Financial Performance 2010 2010 Q1 Q2 Q3 Q4 Total Revenue(MB) 254.6 351.5 529.4 476.0 1,611.47 Profit (MB) (102.91) 70.47 153.51 72.91 194.04 600 500 400 300 Revenue 200 Net Profit 100 0 Q 1 Q 2 Q 3 Q 4 - 100 - 200
Financial Position Balance Sheets : Year ended 31 December Asset categories 2010 THB (M) 2009 THB (M) Cash and Cash equivalents 1,372.0 831.9 Long term deposits held at Financial Institutions 91.45 69.3 Short term investments (Equities and Debt) 7.74 117.5 Long term investments (Equities and Debt) 162.1 52.9 Investment in Associated Company (MFC) 367.2 299.65 Receivable from Clearing House 464.3 165.1 Securities business receivable 1,975.2 1,497.1 Less: Allowance for Doubtful Debts 414.1 (400.0) Property, premises and equipment - net 178.1 226.37 Intangible Assets - net 83.1 70.2 Assets held for sale 24.1 24.1 Other Assets - net 69.2 60.9 Total Assets 4,380.6 2,999.7 7
Financial Position Balance Sheets : Year ended 31 December Liability and Shareholders’ Equity categories 2010 THB (M) 2009 THB (M) Borrowing from Financial Institution - 30.0 Payables from Clearing House 0.24 81.1 Securities business payables 1,174.0 637.3 Payables under finance lease 56.5 85.0 Other Liabilities 186.2 101.3 Total Liabilities 1,417.0 934.7 Issued and paid up share capital 2,330.7 1,866.4 Premium on share capital 139.3 - Revaluation surplus / (deficit) on investments 107.4 22.2 Legal Reserve 9.1 0.6 Unappropriated Earnings / (Deficit) 377.1 191.7 Total Shareholders’ Equity 2,963.7 2,080.0 Total Liabilities and Shareholders’ Equity 4,380.7 2,999.7 Book Value/Share 1.27 0.86 8
CGS Market Share 2010 • CGS commands market share of 6 percent (as of Dec 2010) and is ranked at 2 th among 35 competitors, a significant improvement from 20th in 2009 • As Dec 31,2010, total trading value of THB 713,531 million increased by THB 353,877 million from the prior year CGS Market Share as of Dec 2010 KIMENG Total Trading value 2006 - 2010 (Million Baht) 13% CGS 713,531 6% Others 40% ASP 5% BLS 359,654 5% CS 200,705 200,876 177,644 5% FSS 4% KGI ACLS IVG FES CIMBS DBSV 4% 0% AIRA 1% BFITSEC 1% KKS CNS 1% JPM AYS 3% 1% GLOBLEX CLSA 1% 1% 2% 2% 1% 2% 2%
CGS Market Share 2010 CGS Market share is 6% which is rank no. 2 in the securities brokerage market 6.00% 6.00% 4.75% 5.00% 4.00% 2.54% 2.40% 3.00% 2.27% 2.00% 1.00% as of Dec 0.00% 2006 2007 2008 2009 2010
Internet Trading 2010 CGS is currently ranked at 3rd for Internet trading compared to 28 competitors , occupied the market share of approximately 9 percent Total Internet Trading value 2010 60,000.00 Millions 50,000.00 48,415.89 42,127.90 40,000.00 37,386.25 35,482.82 33,720.00 29,059.72 30,000.00 27,738.54 21,957.28 20,586.30 20,000.00 15,974.13 14,745.66 11,907.83 10,000.00 - JAN FE B MAR AP R MAY JUN JUL AUG SE P T OCT NOV DE C
Derivatives Trading 2010 As of Dec 31,2010, CGS occupied 4.29 percent of derivatives market with 37,244 contracts trading Number of contract Market Share 45,000 5 4.5 40,000 38,229 37,244 4.29 4 35,000 3.57 3.58 3.5 29,728 3.31 3.45 3.41 30,000 3.31 3.1 2.98 3 24,974 2.92 24,576 25,000 2.76 22,182 21,341 21,226 2.5 2.37 19,251 18,832 20,000 17,377 17,193 2 15,000 1.5 10,000 1 5,000 0.5 0 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Contract Market Share
CGS Offices Nationwide Most number of branches nationwide: the largest local retail client base Northern : 11 locations • Chang Klan, Chiang Mai • Chang Pueak, Chiang Mai Northeastern : 7 locations • Jedyod, Chiang Mai • Burirum • Huayhaew, Chiang Mai • Khon Kaen • Nakornping, Chiang Mai • Nakhon Ratchasima • MaeHia, Chiang Mai • Sri Sa Ked • Chiang Rai • Surin • Lampang • Ubon Ratchathani • Nakhon Sawan • Udon Thani • Phitsanulok • Phayao Central : 5 locations Bangkok and Suburb Areas • Ban Pong ( 14 locations) • Kanchanburi • Bangkae • Nakhon Prathom • Ladprao (2) • Phetchaburi • Ngamwongwan • Saraburi • Pinklao • Samrong Eastern : 4 locations • Ramkhahang • Chaichana Rd., Chon Buri • Silom Southern : 9 locations • Pattaya • Central World • Chumphon • Rayong • Bangna • Had Yai (3) • Chachoengsao • Bangbuatong • Nakhon Sri Thammarat (2) • Ploenchit • Phuket • Changwattana • Songkhla • Sermmit • Trang
Number of CGS Offices Nationwide As of Dec 31,2010 CGS provides products and services through 50 branches nationwide . 50 47 50 39 36 40 30 20 10 0 2007 2008 2009 2010
2011 Objectives 2010 - CGS returned to profitability 2011 – CGS must increase the momentum Objectives: Become #1 retail stock broker in Thailand, both by number of accounts and also in market share Diversify revenue base into fee based activities, e.g. asset management fees, increased financial advisory and underwriting fees 15
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