KIM Eng Holdings Ltd. Aims High According to BAC Report02 Dec 2011 • by Natalie Aster
LONDON – On its last shareholders’ meeting newly formed Maybank/Kim Eng group announced its ambitious plans of reaching SGD 20 B in regional asset management business during next five years. It is 10 times bigger comparing to the current figure. The goal is very impressive, and Kim Eng has the potential to achieve it.
After the merge the Group has become the biggest player in Thailand, Singapore, Philippines and Indonesia. Maybank strengthen its position in the retail and commercial banking space, Kim Eng got access to larger financial assets and increased its brokerage penetration. Both partners have solid presence in ASEAN region, but together they plan on expansion into China, India and the Middle East.
Kim Eng has been showing flat performance lately. Revenue and net income declined by 28.4% and 40.6% in the last four years. Profit margin was also on a downward trend, stepping from 27% in 2007 to 22.4% in 2010. FY 2010 brought slight revenue growth and noticeable decrease: the former added SGD 6.6 M to its 2009 number, the latter lost SGD 9.6 M in 2010. So the merge with Maybank was a very prospective recovery opportunity to Kim Eng, and company’s management accepted the deal.
Founded in 1972 and headquartered in Bangkok (Thailand), KIM Eng Holdings (now Maybank Kim Eng) engages in securities and investment brokerage business in Thailand, Malaysia, Indonesia, Singapore, Hong Kong, Philippines, Vietnam, India, London and New York. Till the merge the company was public and traded at Singapore Stock Exchange; however, in 2011 the company became a part of Maybank Group.
Find more details about the company’s activities, awards, market environment and news in the report “KIM Eng Holdings Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: KIM Eng Holdings Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Nov, 2011
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