Phatra Capital Public Company Limited (“the Company”) is a holding company that was set up under the business-restructuring plan of Phatra Securities Public Company Limited (“Phatra Securities”) on 1 April 2010 in order to hold shares in Phatra Securities and engage directly in the investment business (Direct Investment). The Company currently hold more than 99% shares in Phatra Securities.
Phatra Securities, a subsidiary of the Company, has been established since 1997 and remains one of the leading securities companies in Thailand with respect to investment banking business and the provision of brokerage services to institutional clients. Phatra Securities provides a broad range of financial services and currently operates six of eight types of securities businesses for which it has received approval from the Ministry of Finance: brokerage, dealer, underwriter, securities borrowing and lending, investment advisory and private fund management. Phatra Securities is also authorized to operate in mutual-fund management and venture capital. In addition, Phatra Securities runs two different derivatives businesses under the authority of the Securities and Exchange Commission of Thailand (“SEC”), namely brokerage and dealer, but also has approval to operate as a derivatives advisor and fund manager. In 2005, Phatra Securities became a member of the Thailand Futures Exchange Public Company Limited (“TFEX”). Phatra Securities also has registered as a Financial Advisor Type A with the Ministry of Finance, and financial advisor with the SEC. Phatra Securities is the member number 6 of the Stock Exchange of Thailand (“SET”).
Phatra Securities has also continued its collaboration with Bank of America Merrill Lynch (“Merrill Lynch”) since 2003. This covers research, securities brokerage agency, and investment banking. Phatra Securites and Merrill Lynch are exclusive partners in terms of research distribution, with Phatra Securities providing research on Thai companies and securities, the economy, politics, capital market, financial market and other industries in Thailand. For securities brokerage, Phatra Securities and Merrill Lynch work closely together under similar operation platforms. For investment banking, Phatra Securities and Merrill Lynch collaborate in terms of consultancy, cross-border transactions, undocumented block trades that require international agency and international mergers & acquisitions excluding Futures Exchange Brokerage.
Despite its success, Phatra’s desired expansion has been constrained by the limitations of capital, size and scope inherent in the securities business license. The development of and competition in the country’s and region’s financial markets has also placed pressure on Phatra over the long term, forcing us to seek new ways to serve our clients, shareholders and employees. As a result, on 25 April 2012 the Company’s Annual General Meeting approved the merger with Kiatnakin Bank Public Company Limited (“Kiatnakin Bank”). On 13 September 2012, this merger was successfully completed with Kiatnakin Bank holding 99.928% in the Company. Kiatnakin Fund Management Company Limited (“KKF”) shares were transferred to the Company since 28 December 2012 and Kiatnakin Securities Company Limited (“KKS”) shares were transferred to the Company since 2 January 2013. Thus, the Capital Market business is managed by the Company.
Kiatnakin Phatra Financial Group aim to offer clients both commercial banking and capital market products and services, with a strong desire to excel in all core areas. They will also integrate the strengths of both firms and combine knowledge and expertise in each existing business to jointly build additional competencies and synergies to enhance competitiveness. The group emphasizes building an effective workforce with greater teamwork and creativity in honing its human capital capabilities, under the principle of good corporate governance for the utmost benefit of all stakeholders as well as its commitment to the development of the country’s economy and financial market.