1

Market and Financial Performance Market and Financial Performance ofof

Thailand Securities Industry Thailand Securities Industry

(as of 31 December 2012)(as of 31 December 2012)

Source : SEC / SET/ Source : SEC / SET/ TFEXTFEX

2

Market Performance – SET & MAIMarket Performance – SET & MAI

Index Series 2011 2012 % change

SET Index 1,025.32 1,391.93 35.76%

SET50 Index 718.40 945.39 31.60%

SET100 Index 1,559.38 2,078.67 33.30%

FTSE SET All-share 1,239.40 1,681.92 35.70%

FTSE SET Large Cap 1,240.09 1642.61 32.46%

FTSE SET Mid Cap 1,207.54 1757.03 45.50%

FTSE SET Mid/Small Cap 1,239.01 1839.90 48.50%

FTSE SET Small Cap 1,368.93 2171.82 58.65%

FTSE SET Fledging 1,290.32 2043.89 58.40%

MAI 264.23 415.68 57.32%

3

2011 2012

Market Capitalization (mil. baht) - SET - MAI

8,485,0068,407,696

77,310

11,964,46511831, ,

448

13301

7

Turnover Ratio - SET - MAI

85.2%84.1%

228.0%

774. %753

2 8 4 .3 %

Total Turnover (mil. baht) - SET - MAI

7,191,4807,040,458

151,022

7,914,5677,615,638

298,929

Avg. Daily Trading Value (mil. baht) - SET - MAI

29,47328,854

619

32,30431,084

1,220

No. of Listed Companies - SET - MAI

545472

73

558477

81

No. of Listed Securities - SET - MAI

848755

93

1,048948100

No. of SET’s Members 38 38

Market Performance – SET & MAI (cont.)Market Performance – SET & MAI (cont.)

4

Market Performance – TFEXMarket Performance – TFEX

2011 2012

Total Trading Volume (contracts) 10,027,116 10,457,928

- 50 Baht Gold Futures 1,817,483 1,045,370

-10 Baht Gold Futures 2,171,795 2,597,235

- Interest Rate Futures 429 27

- Single Stock Futures 1,578,092 2,168,037

- SET50 Index Futures 4,316,437 4,034,460

- SET50 Index Options 107,993 54,057

- Silver Futures 31,567 14,590

- Brent Crude Oil Futures 3,320 147,823

- USD Futures - 396,138

- Sector Futures - 191

5

Market Performance – TFEXMarket Performance – TFEX

2011 2012

Average Daily Volume (contracts)

41,145 43,823

- 50 Baht Gold Futures 7,449 4,267

-10 Baht Gold Futures 8,901 10,601

- Interest Rate Futures 2 0

- Single Stock Futures 6,468 8,849

- SET50 Index Futures 17,690 16,467

- SET50 Index Options 443 221

- Silver Futures 236 60

- Brent Crude Oil Futures 64 603

- USD Futures - 2,751

- Sector Futures - 4

6

2011 2012

Open Interest (contracts) 56,452 238,981

- 50 Baht Gold Futures 8,627 11,803

-10 Baht Gold Futures 14,695 21,326

- Interest Rate Futures 2 -

- Single Stock Futures 9,514 154,366

- SET50 Index Futures 22,421 36,920

- SET50 Index Options 955 1,569

- Silver Futures 229 183

- Brent Crude Oil Futures 9 744

- USD Futures - 12,065

- Sector Futures - 5

Market Performance – TFEX (cont.)Market Performance – TFEX (cont.)

7

Aggregate Balance Sheet of Securities CompaniesAggregate Balance Sheet of Securities Companies

(unit : mil. baht) 2011 2012 % change

Asset 160,607 223,833 39.4%

Liabilities 92,660 150,885 62.8%

Equity 67,948 72,948 7.4%

8

Assets Structure of Securities CompaniesAssets Structure of Securities Companies

2012

Premises & Equipment

1%Others

4%

TCH Receivable 9%

Investment in subsidiary

2% Investment in Debt & Equity

13%

L/T Deposits7%

Cash24%

Securities Business

Receivable40%

2011

Premises & Equipment

2%Others

5%

TCH Receivable 8%

Investment in subsidiary

3%

Investment in Debt & Equity

10% L/T Deposits6%

Cash38%

Securities Business

Receivable28%

9

Liabilities Structure of Securities CompaniesLiabilities Structure of Securities Companies

Others13%

Securities Business Payables

68%

TCH Payables8%

Borrowings11%

2011 2012

Others14%

Securities Business Payables

74%

TCH Payables6%

Borrowings6%

10

Aggregate Income Statement of Securities Aggregate Income Statement of Securities CompaniesCompanies

(unit : mil. baht) 2011 2012 % change

Brokerage - Securities 21883, 22570 314

Brokerage - Derivatives 2818, 2130, -2442. %

Underwriting 338 1118, 23137. %

Financial Advisory 977 855 -1249. %

Gains on Trading - Securities -1011, 1300, 22854. %

Gains on Trading – Derivatives 2738, 934 -6 5 .8 9 %

Interest and Dividend 2502, 2640, 550. %

Others 3,191 4,090 28.20%

Total Revenue 33,435 35,636 6.58%

Expenses on Borrowing 1,053 1,390 31.94%

Fee & Service Expenses 2,511 2,657 5.79%

Provision for Bad Debt / Doubtful Account

65 -170 -363.29%

Personnel Expenses 13,273 13,507 1.76%

Premises & Equipment 3,137 3,382 7.82%

Other Expenses 3,469 3,835 10.56%

Total Expenses 23,508 24,600 4.65%

Net Profit 6,720 8,470 26.10%

Corporate Tax 3,207 2,565 -20.00%

11

Revenue Structure of Securities CompaniesRevenue Structure of Securities Companies

20122011

Others12%

Interest and Dividend

7%

Brokerage - Securities

64%

Brokerage - Derivatives

6%

Underwriting3%

FA2%

Proprietary Trading

6%

Others10%

Interest and Dividend

7%

Brokerage - Securities

66%

Brokerage - Derivatives

8%

Underwriting1%

FA3%

Proprietary Trading

5%

12

Expenses Structure of Securities CompaniesExpenses Structure of Securities Companies

Others15%

Expenses on Borrowing

6%

Fees & Services Expenses

11%

Personnel Expenses

54%

Premises & Equipment

14%

2011 2012

Others15%

Expenses on Borrowing

4%

Fees & Services Expenses

11%

Provision for Bad Debt

0.19%

Personnel Expenses

57%

Premises & Equipment

13%

13

Cost to Income RatioCost to Income Ratio of Securities Companiesof Securities Companies

0.690.65

0.830.75

0.640.70

0.69

0.00

0.20

0.40

0.60

0.80

1.00

1.20

time

14

Net Profit and ROE of Securities CompaniesNet Profit and ROE of Securities Companies

15

AppendixAppendix 11

No. of Branches 2011 2012

Bangkok & Surrounding Area 213 231

Provincial Area 253 286

Investor Contact – Equity 2011 2012

Type ก (Analyst) 365 361

Type ข (Marketing) 6,953 6,934

Investor Contact – Derivatives 2011 2012

Type ก (Analyst) 75 69

Type ข (Marketing) 4,609 4,385

Investor Contact – Capital Market

2011 2012

Analyst - 19

Marketing - 567

16

Appendix 2Appendix 2

No. of Accounts – Equity 2011 2012

Total Accounts 700,225 797,326

Active Accounts 153,147 219,946

% Active Accounts 21.87% 27.59%

No. of Internet Accounts – Equity

2011 2012

Total Internet Accounts 344,834 446,870

Active Internet Accounts 77,295 122,691

% Active Accounts 22.42% 27.46%

No. of Accounts – Derivatives 2011 2012

Total Accounts 62,883 80,893

17

Appendix 3Appendix 3

2011 2012

Type of Investor

Trading Volume

(Mil. Baht)

Brokerage Fee (Mil. Baht)

Avg. Commissio

n Rate

Trading Volume

(Mil. Baht)

Brokerage Fee

(Mil. Baht)

Avg. Commissio

n Rate

Local Institution

1,261,418 2,567 0.20% 1,229,402 2,300 019. %

Proprietary Port

1,893,515 - - 2,050,721 - -

Foreign 3,271,929 4,955 0.15% 3,827,007 5,192 014. %

Retail 7,654,055 14,359 0.19% 8,124,145 15,077 019. %

Total 14,080,916 21,881 0.16% 15,231,275 22,570 015. %

Total (x-prop)

12,187,401 21,881 0.18%131805, ,

5422,570 017. %

Average Commission RateAverage Commission Rate - - EquityEquity

2011 2012

Trading Volume (Contract)

Brokerage Fee

(Mil. Baht)

Avg. Commission

(Baht/Contract)

Trading Volume (Contract)

Brokerage Fee

(Mil. Baht)

Avg. Commission

(Baht/Contract)

10,027,116 2,822 281.44 10,457,928 2,130 203.67

Average Commission RateAverage Commission Rate - - DerivativesDerivatives