CORPORATE PRESENTATION AUGUST 2017 AGENDA MKET MAYBANK FINANCIAL - - PowerPoint PPT Presentation

CORPORATE PRESENTATION

AUGUST 2017

STRICTLY PRIVATE AND CONFIDENTIAL

AGENDA

2

MKET OVERVIEW MAYBANK GROUP FINANCIAL HIGHLIGHTS

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

OVERVIEW

#1 BROKER IN THAILAND FOR THE PAST 15 CONSECUTIVE YEARS

3

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

#1 BROKER FOR 15 YEARS RUNNING

52 52

Branches

32

Branches In Bangkok

20

Branches In Up-country

B R O A D E S T N E T W O R K C O N S I S T E N T LY R A N K E D # 1

• Solid net capital ratio of 38.69%
• Sufficient placement ability for underwriting IPO

S T R O N G F I N A N C I A L H E A LT H

• Best Broker of Southeast Asia for the year

(2015-2017), Alpha Southeast Asia

• Best Securities Company of the year 2017 by

Money & Banking Magazine – June 2017

• Best Retail Broker in Thailand (2007-2016),

Alpha Southeast Asia

• Best Institutional Broker in Thailand (2007-

2016), Alpha Southeast Asia

• Best Securities Company of the Year 2015,

Money & Banking Magazine

• Best Retail Broker- Finance Asia (2014-2015)

& The ASEAN Banker (2015)

• Best Brokerage House for Thailand, The Asset

Triple A Awards 2012- 2015

• TFEX Best Award (2011), Alpha Southeast Asia
• SET Awards 2011- Outstanding Securities

Company

• SET Awards 2011- Outstanding Derivatives

House

• Best Broker in Thailand (2010), Finance Asia
• Best Research House for Retails (2007-2008),

SAA

• Best Analyst in Energy and Petrochemicals for

Retail Investors (2008), SAA

• Best Medium & Small Cap. Analyst for Retail

Investors (2007), SAA

• Best Medium & Small Cap. Analyst for

Institutional Investors (2007), SAA

2 0 1 7 A C C O L A D E S F I T C H R AT I N G S

AA+

Updated on 27 April 2017

Rating on par with BBL, KBANK,

KTB and SCB 4

2.34 2.46 2.55 2.60 2.65 2.66 2.95 3.13 3.28 3.65 3.77 3.87 3.88 3.95 4.70 4.76 5.36 5.41 6.49 7.53 KTZ TISCO MACQ UOBKHST UBS ASPS AWS CNS KGI CS CLSA KS SCBS TNS PHATRA BLS FSS CIMBS DBSV MBKET

9,034 7,166 13,973 14,684 20,612 17,989 16,802 18,055 4,637 4,420 4,517 5,275 4,884 4,818 4,914 4,663 Q22017

Branches as of 7 August, 2017

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

OUR NETWORK1

WE ARE THE LARGEST RETAIL BROKERAGE NETWORK IN THAILAND

197,000

Retail Accounts

57

Branches Around The Country

Online Markets Offline Markets

USA Canada Singapore Switzerland Hong Kong UK Malaysia France Germany Norway Japan Vietnam Indonesia South Korea Australia

OUR OFFSHORE MARKETS

1 Updated as of December 2016

5

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

OUR BUSINESS OVERVIEW

Number of Accounts Dec-15 Dec-16 % Change Jun-17 % Change Total Equity Account 168,303 179,321 6.55% 197,101 9.92% Internet Account 75,448 81,144 7.55% 83,701 3.15% Credit Balance Account 3,386 3,632 7.27% 3,697 1.79% Cash Account 89,469 94,545 5.67% 96,768 2.35% Futures Account 11,922 12,605 5.73% 12,935 2.62% Number of Active Accounts Dec-15 Dec-16 % Change Jun-17 % Change Total Equity Account 86,841 78,676 (9.40%) 80,108 1.82% Internet Account 42,335 37,283 (11.93%) 36,665 (1.66%) Credit Balance Account 1,615 1,579 (2.23%) 1,539 (2.53%) Cash Account 42,891 39,814 (7.17%) 39,450 (0.91%) Futures Account 2,778 2,590 (6.77%) 2,454 (5.25%)

• At the end of June

2017, MKET had 197,101 equity accounts and 12,935 futures accounts.

• 42.47% were internet

accounts, 1.88% were margin accounts and the rest 49.10% were cash accounts.

• 40.64% of equity accounts

and 18.97% of futures accounts were active accounts.

• Outstanding loans on margin

accounts at the end of June 2017 totaled Baht 10,521 million.

• Short sell value at the end of

June totaled Baht 4,016.06 million.

• There were no defaults on

MKET margin accounts

76.0%

Retail Accounts

17.0%

Foreign Accounts

7.0%

Local Institutional Accounts

MKET BROKERAGE2 BUSINESS

2Updated as of Q2/2017

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STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

OUR BUSINESS OVERVIEW

• Among 44 TFEX member brokers, MKET

ranked #5 by derivatives trading volume in 2Q2017. MKET’s derivatives trading volumes come from servicing retail clients, foreign institutions, local institutions and from proprietary trading.

• Since TFEX commenced trading on April

2006, MKET has earned the customers’ derivatives account 12,781 accounts. Trading channels cover both sending

• rders through marketing officers and

customer trading through the internet. MKET has the largest number of marketing

• fficers – 447 derivatives sales persons -

spreading across 52 branches (excluding Head Office) throughout the country.

1,040,483 1,714,214 2,064,431 2,179,420 1,739,547 3.76% 3.73% 5.53% 5.79% 5.44% 0% 2% 4% 6% 8% (200,000) 300,000 800,000 1,300,000 1,800,000 2,300,000 2Q2016 3Q2016 4Q2016 1Q2017 2Q2017 Market Share (%) Volume (Contracts)

MKET's Derivatives Volume and Market Share (%) 2Q2016 - 2Q2017

MKET DERIVATIVES BROKERAGE BUSINESS

• In 2Q2017, MKET’s Brokerage fee from Derivatives Business was 47.24

million Baht compared to 30.40 million Baht in 2Q2016, representing the revenue decrease of 35.65%. MKET’s average daily volume increased from 23,689 contracts in 1Q2017 to 28,992 contracts in 2Q2017, representing an increase by 22.39%. In 2Q2017, MKET ranked No.5 in term of market shares that accounted for 5.44% of the total volume in derivatives market.

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STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

INNOVATION AT OUR CORE

• MKET always develop our information

and communication technology to support an efficient tool for our investors, both professional fund managers and retail investors.

• The first Thai broker with live

research analysis (MKET Channel) via internet, iPad – iPhone, Android both fundamental and technical analysis.

• Real time stock information and

trading via ios (iPad-iPhone) , Android, Mobile, Tablet, PC, BlackBerry (every

• peration system)
• Providing rich research and news

contents via public LINE application (@maybankfriends), and on-demand robotic LINE application in search for company news, corporate actions, company research paper, and stock trading, exclusively for MKET clients.

8 @MBKET

@maybankfriends

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

2017 EVENT HIGHLIGHTS

Best Broker of Southeast Asia for the year 2015-2017

Congratulation with Management and all staff of MKET on 2 awards from Alpha Southeast Asia, namely “Best Broker of Southeast Asia for the year 2015-2017”. This success was also awarded and shared the success and pride not only to MKET but also to Maybank Kim Eng group of companies in many countries. In addition, we are also named Best Securities Company of the year 2017 by Money & Banking Magazine – June 2017. We have ever been selected the same title in the year 2015. For this year, Money and Banking has selected 41 securities companies, and due to best operating performance as of the year-end 2016 of the Company. MKET’s earning of THB 3,671.40 million, net profit of THB 974.49 million and highest market share compared with its peers of 8.15%. The criteria to consider the award assessment is Size of the company (Asset, Shareholder’s Equity and Authorized Capital), Financial Profitability (Revenue, Net Profit and EPS, and Return of Investment (ROE and ROA). Congratulations and thanks to all staffs for their devote and efficient effort.

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Best Securities Company of the Year 2017 by Money & Banking Magazine – June 2017

Best Broker of Southeast Asia for the year 2015-2017

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

2017 EVENT HIGHLIGHTS

July 25, 2017 - Press Conference on Maybank Kim Eng Securities boosts Thai Research team and new securities services and the Great Reveal

.

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We held the press conference on Maybank Kim Eng Securities boosts Thai Research team and new securities services boosts Thai research team blending youth and experience staff in offering research via 4 new products that are designed to meet the needs of investors. The innovations developed by Maybank Kim Eng regional and in-house team taking into account the requirements of investors in the Thailand 4.0 era by providing easy access to additional information channels, ensuring investors can stay updated anytime,

• anywhere. Research will open a new dimension of stock analysis using a new style
• f research that will better meet the needs of investors. The team aims to reach

investors directly by disseminating new investment information quickly and comprehensively through a wide range of communication channels that include lines@MBKET for customers, @maybankfriends for general investors, e-mail, facebook and website including introduction of 4 new products including ATO (At The Open, Portfolio Model, Small CAP and mai) During the 2nd episode, Mr.Thanat introduced 3 new products under Online Business development consisting of I.V.A.N. (Intelligent Virtual Assistant Network) which acts as new assistant to IC, MKET Anywhere application, AND keItRADE , formerly called MKET Radars .

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

2017 EVENT HIGHLIGHTS

Maybank GO Ahead Challenge 2017 – Thailand Delegates Final Round

. MKET and CSI Investment Club (Innovation Investment Program), Rangsit University, co-hosted a visit to Hochiminh Stock Exchange under the concept of “Select stocks with Guru Investment in Ho Chi Minh Stock Exchange” during May 17-19 May, 2017 in order to allow investors to learn about investment in Vietnam and visit Ho Chi Minh Stock Market (HOSE) along with studying the Foreign Exchange criteria so that investors could handle their investment in overseas property.

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May 17-19, 2017 : A Visit to Ho Chi Minh Stock Exchange

After the opening of Maybank GO Ahead Challenge 2017 during March – June, 2017 to search for Thailand students. The final round was held on 30 June at 07.30 -20.00 hours at Thammasat University, Thaprachan Campus to select Thailand students to be delegate to join the Maybank GO Ahead Challenge 2017 Global Final round in Malaysia. We have already got 72 shortlisted to enter to the 2nd round completion. The 1st runner is Ms. Vorada Wanichprasertporn from London School of Economics and the 2nd runner is Ms. Catterya Anne Fincher from Mahidol University, International College. Mr. Montree Sornpaisarn has addressed the

• pening welcome to all participants. This program shall no be so

successul without the strong support from the management, the referees including Mr. Peerasith (LI), Mr. Thanat (IS), Ms. Tuenjai (CCD), Ms. Sawitree (Offshore), Mr. Chatree (CEO Office 2) and Ms. Warinthorn (Legal), HRD team.

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

PRODUCT TYPE DEALS

• 1. M&A

3 - 4

• 2. REITS

3 - 4

• 3. Infrastructure Fund

1 - 2

• 4. Initial Public Offering IPO)

Added on Public Offering 14 - 15

• 5. Equity/Private Placement

3 - 4

• 6. Financial Advisory (FA) -

Others 1 - 2

DEALS BY PRODUCTS IN PIPELINE

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IB’S MANDATED & POTENTIAL DEALS

Investment Banking

STRICTLY PRIVATE AND CONFIDENTIAL

Italian Thai Development 2005 FA / Lead Underwriter Issue Size: 4,600 MB Shin Satellite 2005 Lead Underwriter Issue Size: 3,182 MB Phatra Securities 2005 FA / Lead Underwriter Issue Size: 1,752 MB M.C.S. Steel 2005 FA / Lead Underwriter Issue Size: 336 MB Indorama Polymers 2005 Co-Lead Underwriter Issue Size: 1,200 MB UOB KayHian 2005 Lead Underwriter Issue Size: 465 MB Interhides 2005 FA / Lead Underwriter Issue Size: 273.75 MB Bangkok Metro 2006 FA / Lead Underwriter Issue Size: 3,661.24 MB Sena Development 2009 FA / Lead Underwriter Issue Size: 396 MB SIS Distribution (Thailand) Plc. 2004 FA / Lead Underwriter Issue Size: 178.45 MB C.M. Organizer 2004 FA / Lead Underwriter Issue Size: 125.92 MB DCON Products 2004 FA / Lead Underwriter Issue Size: 370 MB Hwa Fong Rubber (Thailand) 2003 FA / Lead Underwriter Issue Size: 412 MB Chonburi Concrete Product 2003 FA / Lead Underwriter Issue Size: 550 MB Tycoons Worldwide Group(Thailand) 2003 FA / Lead Underwriter Issue Size: 2,435 MB TPI Polene 2004 Underwriter Issue Size: 1,850 MB Syrus Securities 2004 Lead Underwriter Issue Size: 660 MB Globlex Holding Management 2004 Lead Underwriter Issue Size: 494.50 MB Krungthai Bank 2003 Co-lead Underwriter Issue Size: 25,500 MB Polyplex (Thailand) 2004 Co-lead Underwriter Issue Size: 1,656 MB Thainox Stainless 2004 Co-Lead Manager Issue Size: 5,250 MB Siam City Bank 2003 FA / Lead Underwriter Issue Size: 8,400 MB Siam Global House 2009 Lead Underwriter Issue Size: 663 MB Somboon Advance Technology 2010 FA / Lead Underwriter Issue Size: 1,113 MB BTS Groups Holding 2010 Lead Underwriter Issue Size: 751 MB Dusit Thani Property Fund 2010 FA / Lead Underwriter Issue Size: 4,094 MB UAC 2010 Lead Underwriter Issue Size: 120 MB Vichaivej International Hospital Group 2012 FA / Lead Underwriter Issue Size: 169 MB UAC 2013 Lead Underwriter Issue Size: 192 MB Interlink Communication 2013 Lead Underwriter Issue Size: 395 MB CPNRF Retail Growth Leasehold Property Fund (CPNRF) 2014 FA / Lead Underwriter Issue Size: 6,238 MB Kaset Thai International Sugar Corporation 2014 Lead Underwriter Issue Size: 9,578 MB Aira Capital Public Company Limited 2014 Lead Underwriter Issue Size: 475 MB Impact Growth Reit 2014 FA / Lead Underwriter Issue Size: 15,715 MB Loxley Public Company Limited 2014 FA / Lead Underwriter Issue Size: 668.25 MB CPN Commercial Growth Leasehold Property Fund (CPNCG) 2012 FA / Lead Underwriter Issue Size: 4,394 MB Italian-Thai Development PLC. 2014 FA / Lead Underwriter Issue Size: 2,035.15 MB Singha Estate PLC. 2014 FA / Lead Underwriter Issue Size: 1,767 MB The Platinum Group PLC. 2015 FA / Lead Underwriter Issue Size: 5,180 MB Global Power Synergy PLC. 2015 Co -Lead Underwriter Issue Size: 621 MB Daii Group PLC. 2015 FA/Lead Underwriter Issue Size: 120 MB Netbay PLC. 2016 FA/Lead Underwriter Issue Size: 160 MB Sahakol Equipment PLC. 2016 FA/Lead Underwriter Issue Size: 1,216 MB

13

TPI Polene Power PLC. 2017 FA/Lead Underwriter Issue Size: 17,500 MB Mudman PLC. 2017 Lead Underwriter Issue Size: 1,107 MB

Our ECM Track Record Since 2003

True Corporation PLC. 2016 FA / Lead Manager Issue Size: 60,000 MB Buriram Sugar Group Power Plant Infrastructure Fund 2017 FA/ Underwriter Issue Size: 3,605 MB Ingress Industrial (Thailand) 2017 FA/ Lead Underwriter Issue Size: 769.MB

STRICTLY PRIVATE AND CONFIDENTIAL

AYCAL 2010 FA on Debenture Issuance Issue Size: 5,000 MB LPN Development 2004 FA for share valuation on one

• f its subsidiary

CS Loxinfo 2005 FA for Valuation of Teleinfo Media Bangchak Pertroleum 2005 IFA for Connected Transaction and Whitewash3 Industrial Estate Authority of Thailand 2005 Co-FA for Study on Potential Privatization IAG Group 2006 Tender Offer Preparer & Tender Agent for Acquisition of Safety Insurance Shares Bank of Ayudhya 2006 IFA on Whitewash, PP at low price to GE and asset acquisition from GE Ocean Life Insurance 2008 Financial Advisor on Joint Venture with Dai-ichi Life Insurance Golden Land Property Development 2008 FA on Issuance of ESOP Warrant PTT 2008 FA on Acquisition Strategy of a listed company Siam Cement Group 2009 FA on Share Valuation

• f their investment in a

Non-listed Company TSFC Securities 2009 FA on Debt & Capital Restructuring Loan Arranger Thai Credit Bank 2009 FA on Acquiring of a Leasing Company Charernkit Enterprise 2009 FA on Acquisition & Backdoor listing of MEDIAS Tender Offer Preparer & Tender Agent HitashiTransport System (Asia) 2011 Tender Offer Preparer and Tender Offer Agent Grand Canal Land 2011 IFA on Acquisition of 2 land plots & Disposal of Golf Business Tapaco 2010 FA on Right Warrants Issuance National Power Supply 2007 FA for Independent Power Producer bidding Ayudhya Insurance 2011 FA on Share Valuation

• f the share acquisition in

Ayudhya Allianz C.P. Siam Commercial Bank 2010 FA on Share Valuation

• f their investment in a

Non-listed Company Mayban IB Holdings Sdn Bhd 2011 Tender Offer Agent of Kim Eng Securities (Thailand) PLC Bangkok Dusit Medical Services PLC. 2011 FA for Delisting of Prasit Patana PLC. GMM Media 2005 IFA on Connected Transaction for Share Acquisition in MATI and POST Manecomp Precision Technologies 2005 Tender Offer Preparer and Tender Offer Agent Thai Military Bank 2008 IFA on Connected Transaction and T/O Waiver for ING Bank Thai–German Ceramic Industry 2008 IFA on Tender Offer by Ceramic Cementhai Bangchak Petroleum 2009 FA on Enhancing Liquidity & Firm Value Kasikorn Thai Bank 2009 IFA on Acquiring Muang Thai Insurance PTTCH 2011 IFA on amalgamation of PTTCH and PTTAR Royals food 2011 FA on valuation of its group Central Pattana PLC. 2012 IFA for Land Leasing from Connected Party Officemate PLC. 2012 IFA for the Acquisition of Assets and Connected Transactions CP All PLC. 2013 IFA for the Acquisition of Siam Makro PLC. 231,000 MB Singha Estate PCL. 2014 FA on Acquisition & Backdoor listing of Rasa Plc Tender Offer Preparer & Tender Agent Millennium Steel 2006 IFA on Tender Offer by Tata Steel and NatSteel JMT Network Services PLC.

FA for Private Placement and Selling Agent of Right S Hotels and Resorts Inter

FA on Acquisition of Jupiter Holding Management of 26 Mercure hotels in in U.K. Berli Jucker

IFA on Acquisition of BIG C Super Center Plc. 208,626 MB Singha Estate Plc.

FA on Acquisition & Backdoor listing of Singha Estate Tender Offer Preparer & Tender Agent

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PTT Global Chemical PCL. 2017 IFA on Connected Transaction 26,300 MB

Our Advisory Track Record Since 2003

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

THE WINNING TEAM2

BOARD OF DIRECTORS

TH EXCO

CHIEF OPERATING OFFICER (COO) CHIEF EXECUTIVE OFFICER (C0-CEO) CHIEF EXECUTIVE OFFICER (CEO)

AUDIT COMMITTEE

COMPLIANCE

CG COMMITTEE RESEARCH INSTITUTIONAL RESEARCH TH CC TH MRC TH CUC

RISK MANAGEMENT & CREDIT CONTROL

RETAIL SALES & DEALING RETAIL 1-3 RETAIL 4

E-COMMERCE PRIVATE WEALTH MANAGEMEN 1-2 BUSINESS DEVELOPMENT BUSINESS MARKETING OFFSHORE TRADING SELLING AGENT INSTITUTIONAL SALES INVESTMENT BANKING DERIVATIVES CORPORATE LEGAL HUMAN RESOURCES CORPORATE COMMUNICATIONS CHIEF INFORMATION OFFICER

INTERNAL AUDIT

HEAD OF FINANCE

ACCOUNTING

SETTLEMENT/ CUSTODIAN OPERATION CLIENT SERVICE GENERAL SERVICES

TREASURY/ CASHIERS MANAGEMENT ACCOUNTING

The Board of Directors

Mr Yuth Vorachattarn Chairman to the BOD & Audit Committee Member

• Mr. John Chong Eng Chuan

Director

• Mr. Montree Sornpaisarn

Director

• Ms. Sopawadee

Lertmanaschai Director & Chairman to audit Committee

• Mr. Siang Chin Lee

Director & Audit Committee Member

Thailand Executive Committee (TH EXCO)

• Mr. Montree Sornpaisarn

Chairman

• Ms. Hamidah Binti Moris

Member

• Mr. Mohamad Yasin B. Abdullah

Member

• Ms. Sudthida Chirapatsakul

Member

• Mr. Henry Koh Swee Ong

Member

• Mr. Peerasit Chiwabhong

Member

• Mr. Chuchart Suratepin

Member

• Mr. Prateep Chongcharoensuk

Member

• Mr. Chakravee Suthisote

Member

• Mr. Vichet Pornsinsiriruk

Member 2 Updated as of June 2017

15 TH CURC NOMINATION COMMITTEE COMPENSATIONCOM MITTEE

STRICTLY PRIVATE AND CONFIDENTIAL

THE VOICE OF THE ASEAN OPPORTUNITY

Maybank was one of the first to see the potential of ASEAN as a single

• marketplace. As a result of our

strategic expansion, we are now the largest investment bank in ASEAN and probably the most forward thinking in terms of our vision for shaping the way we bring ASEAN to the world. Among ASEAN corporates and global investors, through our highly personalised conversations, we have become known as

16

MAYBANK KIM ENG THAILAND

OVERVIEW

STRICTLY PRIVATE AND CONFIDENTIAL *As at 31 December 2016 ** As at 3 May 2017

LEADERSHIP POSITION STRONG SHAREHOLDERS AND CREDIT RATINGS

2,400

Branches and

• ffices in more

than 20 countries

1,156

Branches in 10 ASEAN countries

5

International Financial Centres (IFCs)

MAYBANK

THE LEADING REGIONAL FINANCIAL SERVICES GROUP

• No. 1 bank in Malaysia: Conventional

and Islamic

• Top 5 bank in ASEAN
• ‘Brand of the Year’ for 3 consecutive

years by World Branding Awards

• ‘Best Islamic Financial Institution’ in

Malaysia by Global Finance Awards 2016

• Most Valuable Company on Bursa

Malaysia

• 48% owned by PNB and its funds and 15%

by EPF *

• Foreign shareholding 16.8% **
• A− credit rating, on par with Malaysia

sovereign

17

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK

A TRULY ASEAN FRANCHISE

Universal Banking Retail & Commercial Banking Investment Banking Affiliate/Representative Office BANK MARKET CAP

3 Mar 17 (USD Bil)

TOTAL ASSETS

31 Dec 16 (USD Bil) MALAYSIA SINGAPORE INDONESIA THAILAND PHILIPPINES BRUNEI VIETNAM CAMBODIA LAOS MYANMAR

1 DBS 34.2 333 2 BCA 28.5 51 3 OCBC 28.1 283 4 UOB 24.9 235 5 Maybank 20.0 164 6 Bank Mandiri 19.8 77 7 Public 17.2 85 8 SCB 15.0 81 9 CIMB 10.4 108 10 Bangkok 10.2 82 11 BDO 9.9 46 12 Metrobank 5.2 35 * Wholesale Banking license only

* * *

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STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK

TOP 5 BANK IN ASEAN1

5 .

863 1,039 1,256 1,350 1,476 1,620 1,971 2,197 2,519 3,071

CIMB Bank Mandiri Public Bank Siam Commercial Bank Central Asia Maybank Bank Rakyat Indonesia UOB OCBC DBS

51 74 77 81 85 108 164 235 283 333

Bank Central Asia Bank Rakyat Indonesia Bank Mandiri Siam Commercial Public Bank CIMB Maybank UOB OCBC DBS

38.1 55.7 56.3 56.5 71.7 74.9 109.2 176.5 180.7 240.1 30.8 49.0 49.9 54.1 65.5 72.2 108.3 156.0 152.2 211.1

Bank Central Asia Bank Rakyat Indonesia Bank Mandiri Siam Commercial Public Bank CIMB Maybank UOB OCBC DBS Loans Deposits 34.2 28.5 28.1 24.9 21.9 20.0 19.8 17.2 15.0 10.4

DBS Bank Central Asia OCBC UOB Bank Rakyat Indonesia Maybank Bank Mandiri Public Bank Siam Commercial CIMB

4.

Source: Bloomberg

TOTAL ASSETS (USD BIL): 31 DEC 2016 LOANS AND DEPOSITS (USD BIL): 31 DEC 2016 PATAMI (USD MIL): 12 MONTHS ENDED 31 DEC 2016 MARKET CAPITALISATION (USD BIL): 3 MAR 2017

4 . 6 .

19

STRICTLY PRIVATE AND CONFIDENTIAL

ASEAN INVESTMENT BANKING & ADVISORY1 (USD’M) ASEAN MERGERS & ACQUISITIONS1 (USD’M) ASEAN LOCAL CURRENCY BONDS1 (USD’M) GLOBAL SUKUK1 (USD’M)

MAYBANK KIM ENG

ASEAN’S INVESTMENT BANK

ASEAN EQUITY AND EQUITY LINKED & RIGHTS1 (USD’M)

Note: Based on Deal Volume Source: 1Dealogic, 2Bloomberg

1.

11,495 13,706 14,372 15,243 15,369 17,354 17,427 21,120 25,465 26,839

4.2% 5.0% 5.3% 5.6% 5.6% 6.4% 6.4% 7.7% 9.3% 9.8%

BoA Merrill … Citi CIMB Group BNP Paribas Morgan Stanley Credit Suisse DBS JPMorgan HSBC Maybank

1.

6,560 7,401 8,912 9,775 10,574 12,384 14,094 15,547 15,995 18,391

9.6% 10.8% 13.0% 14.3% 15.4% 18.1% 20.6% 22.7% 23.4% 26.9%

BoA Merrill Lynch Citi Goldman Sachs Rothschild & Co BNP Paribas Morgan Stanley Credit Suisse HSBC JPMorgan Maybank COUNTRY RANK MARKET SHARE TRADING VALUE (USD’M)

TH 1 8.2% 101,322 MY 3 10.2% 23,567 PH 8 4.8% 7,369 ID 10 3.3% 17,626 VN >10 2.2% 2,810 SG N/A 4.0% 15,413 HK Tier 2 0.9% 73,558

EQUITIES MARKET SHARE BY COUNTRY

1.

502 574 735 769 896 940 948 984 1104 1132

3.3% 3.8% 4.9% 5.1% 6.0% 6.2% 6.3% 6.5% 7.3% 7.5%

HSBC Mandiri Sekuritas PT Morgan Stanley Credit Suisse Deutsche Bank Citi CIMB DBS Group UBS Maybank

2.

1,390 1,464 1,465 2,634 2,636 2,905 3,038 3,878 4,602 5,329

3.3% 3.5% 3.5% 6.3% 6.3% 7.0% 7.3% 9.3% 11.0% 12.8%

Emirates NBD NBAD JP Morgan AmInvestment Dubai Islamic HSBC RHB Standard Chartered Maybank CIMB

2.

2,591 3,378 3,400 3,465 3,612 3,786 3,828 4,423 5,030 8,747 Bank of Ayudhya AmInvestment RHB Bangkok Bank Kasikornbank Krung Thai Bank Siam Commercial Bank DBS Maybank CIMB

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STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG

OUR BUSINESS PLATFORM

REGIONAL PRODUCTS SHELF

• Local and

Global Equities

• Fixed Income
• Contracts for

Difference

• Futures &

Options

PRIME SERVICES

• Providing funds, corporates and

family offices with access similar to the larger prime brokers

DISTRIBUTION CAPABILITIES

• Involved in notable major IPOs in

the region

• Far-reaching corporate access

and local insights of the economy and corporate landscape

REGIONAL RESEARCH NETWORK

• Reputable extensive to simplified

research coverage

• Innovativeness in delivery

methods

DISTRIBUTION NETWORK

• Maybank Group’s Regional

Network

• Investment centres/ touchpoints

in all key markets we operate in

SECURITIES FINANCING

• Trade in multiple markets with

multi-currency financing facility

OUR SOLUTIONS TO OUR CLIENTS

REGIONAL CORPORATE ACCESS

• Private non-deal, pre-IPO

roadshows and exclusive conferences designed to connect the fund managers and corporates

REGIONAL ACCOUNT MANAGEMENT

• Dedicated teams to manage and

service all the key accounts in the region

ONLINE TRADING PLATFORM

• Award winning multi-market and

multi-access trading capabilities

• Derivatives
• Leveraged

Forex

• Securities

Borrowing & Lending 21

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG

OUR THOUGHT LEADERSHIP

WE KNOW ASEAN. OUR PEOPLE ARE ON THE GROUND WITH RESEARCH TEAMS IN THE 6 KEY ASEAN ECONOMIES

Our award-winning analysts bring direct industry experience and cover all key sectors in the region. Our MSCI coverage is now 60-90% across markets and rising. The country teams in our home markets complement our regional sector teams to cover fast changing industry trends and thematics that will move markets.

85

Analysts, sector specialists, economist and strategist

550

Companies regionally covering more than

MALAYSIA SINGAPORE INDONESIA THAILAND HONG KONG / CHINA VIETNAM PHILIPPINES INDIA Technology Aviation Consumer Staples Gaming Financials Telecommu

• nications

Internet Oilfield Services Plantations Infrastructure Small & mid Caps

KEY SECTORS

Consumer Discretionary

22

STRICTLY PRIVATE AND CONFIDENTIAL

THE LARGEST PLACEMENT IN ASEAN SINCE FEBRUARY 2014

• Sime Darby Berhad
• USD 571.65 million
• Primary Placement

THAILAND’S LEADING RENEWABLE ENERGY COMPANY LISTING

• TPIPP’s Public Limited Company
• USD 500 million
• Initial Public Offering

THE FIRST CHINESE SPECIALISED LOGISTICS AND E-COMMERCE LOGISTICS REIT ON SGX

• EC World
• USD 256.20 million
• Initial Public Offering

THE SYNDICATION OF THE LARGEST AND MOST EFFICIENT RECOVERY PLANT IN SINGAPORE

• Tuasone Pte Ltd
• SGD 650.0 million
• Syndicated Project Financing

THE FIRST SOVEREIGN SUKUK WITHOUT UTILISING PHYSICAL ASSETS

• Malaysia Sukuk Global Berhad
• USD 1.50 billion
• Global Islamic Sukuk

THE SECOND LARGEST M&A DEAL IN INDONESIA

• Marlin Enterprise
• USD 425.0 million
• Senior Syndicated Facility

THE FIRST ISSUER TO GRADUATE FROM A GOVERNMENT GUARANTEE TO STAND- ALONE CREDIT

• Sarawak Hidro Sdn Bhd
• RM 5.54 billion
• Sukuk Murabahah Facility

THE LARGEST VESSEL FINANCING IN AFRICA FOR 2016

• Yinson Production (West Africa)

Pte Ltd

• USD 780.00 million
• Islamic Murabahah Term

Financing Facility

INDONESIA’S NATIONAL INFRASTRUCTURE FUNDING

• PT Sarana Multi Infrastruktur

(Persero)

• IDR 5.0 trillion
• Bond Issuance

MAYBANK KIM ENG

NOTABLE ASEAN DEALS FY2016

23

STRICTLY PRIVATE AND CONFIDENTIAL

ASIAMONEY BROKERS POLL AWARDS 2015

Malaysia: Best Local Brokerage: 1st Place Best for Overall Country Research: 1st Place Best Overall Sales Service: 1st Place Best Salesperson: 1st Place and 2nd Place Best Sales Trader: 1st Place Best Execution: 1st Place Best in Sales Trading: 1st Place Best for Events and/or Conferences: 1st Place Best for Roadshows and Company Visits: 1st Place Best Research Coverage for Macroeconomics, Banks, Diversified Financials, Insurance, Real Estate, Semiconductors and Semiconductor Equipment, Technology Hardware & Equipment, Utilities Thailand: Most Improved Brokerage Over the Last 12 Months: 1st Place

FINANCE ASIA COUNTRY AWARDS 2016

Best Brokerage House- Malaysia Best ECM House- Malaysia Best Brokerage House- Philippines

GLOBAL BANKING & FINANCE REVIEW AWARDS 2015

Most Innovative Research House Asia Best Corporate Access ASEAN Best IPO Deal Malaysia Best Project Finance Bank Malaysia Best Mobile Trading Platform Singapore Best IPO Deal Thailand Best Institutional Broker Indonesia Best Mobile Trading Platform Vietnam

HFM ASIA HEDGE FUND SERVICES

Best Prime Broker- Boutique, ASEAN

SHARE INVESTOR AWARDS 2015

Most Preferred CFD Provider, Singapore

ALPHA SOUTHEAST 10th ANNIVERSARY AWARDS 2016

Best Retail Broker in Indonesia (2007-2016) Best Retail Broker in Malaysia (2007-2016) Best Retail Broker in Philippines (2007-2016) Best Retail Broker in Thailand (2007-2016) Best Retail Broker in Singapore(2007-2016) Best Institutional Broker in Indonesia (2007-2016) Best Institutional Broker in Malaysia (2007-2016) Best Institutional Broker in Philippines (2007-2016) Best Institutional Broker in Thailand (2007-2016) Best Institutional Broker in Singapore (2007-2016) Best Broker in Southeast Asia (2007-2016)

FINANCE ASIA COUNTRY AWARDS 2015

Best Broker- Thailand Best Broker- Philippines

EUROMONEY AWARDS FOR EXCELLENCE 2016

Best Investment Bank in Malaysia

ASIAMONEY BEST BANK AWARDS 2015

Best Domestic Equity House in Malaysia

ASIAN BANKING AND FINANCE WHOLESALE BANKING AWARDS 2015

Maybank Kim Eng Group- International Project Finance Bank of the Year Syndicated Loan House of the Year- Malaysia

APLMA 4TH ASIA PACIFIC SYNDICATED LOAN AWARDS 2015

MAYBANK KIM ENG

BEST IN ASEAN

24

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

FINANCIAL HIGHLIGHTS

#1 BROKER IN THAILAND FOR THE PAST 15 CONSECUTIVE YEARS

25

STRICTLY PRIVATE AND CONFIDENTIAL

249 384 351 900 410 199 649 1,595 15,746 15,788 13,973 13,215 4,208 1,618 1,829 2,345 20,613 17,989 16,802 16,803

FY2014 FY2015 FY2016 FY2017

MAYBANK KIM ENG THAILAND

OUR HEALTHY BALANCE SHEET

In THB’000

2014 (Dec) 2015 (Dec) 2016 (Dec) 2016 (Jun) 2017 (Jun)

Total Asset

20,612,852 17,989,158 16,802,595 N/A 18,055,568

Total Liabilities

15,728,620 13,170,242 11,888,244 N/A 13,292,173

Total Shareholders' Equity

4,884,232 4,818,916 4,914,351 N/A 4,763,395

Total Income

4,434,653 3,969,184 3,671,398 1,688,195 1,706,274

Net Income

1,264,224 1,019,231 974,490 439,780 375,977

Net Income per share

2.21 1.79 1.71 0.77 0.66

The Weighted Average Number of Ordinary Share (Thousand Share)

570,814 570,814 570,814 570,814 570,814

ASSETS (THB’M) LIABILITIES & EQUITIES (THB’M)

Others Securities Business Receivable - Net Investments- Net Cash and Deposit with Financial Institution Liabilities Shareholders’ Equity

26

2014 (Dec) 2017 (Jun) 2016 (Dec) 2015 (Dec) 2014 (Dec) 2015 (Dec) 2016 (Dec) 2017 (Jun)

STRICTLY PRIVATE AND CONFIDENTIAL

RETURN ON EQUITY RETURN ON ASSETS GROSS / NET MARGINS VARIABLE / FIXED COST TO REVENUE

MAYBANK KIM ENG THAILAND

OUR FINANCIAL RATIOS

66.7% 66.8% 66.2% 25.7% 26.5% 21.8%

2015 (Full-Year) 2016 (Full-Year) 2017 (1st Half-Year) Gross Margin Net Margin

27

40.0% 36.3% 38.5% 28.0% 30.5% 33.6% 2015 (Full-Year) 2016 (Full-Year) 2017 (1st Half-Year)

Variable Fixed Cost

66.8%

67.2% 68.0%

5.7% 5.8% 4.2% 2015 (Full-Year) 2016 (Full-Year) 2017 (1st Half-Year)

21.2% 19.8% 16.2% 2015 (Full-Year) 2016 (Full-Year) 2017 (1st Half-Year) * *

* annualised to be full year * annualised to be full year

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

OUR P&L

4,435 3,969 3,671 1,688 1,706 2,845 2,688 2,448 1,138 1,237 1,264 1,019 974 440 376

2014 (Full-Year) 2015 (Full-Year) 2016 (Full-Year) 2016 (1st Half-Year) 2017 (1st Half-Year) Total Revenues Total Expenses (excl. corporate tax) Net Profit 28

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

OUR COMMON SIZE FINANCIAL STATEMENT

COMMON SIZE FINANCIAL STATEMENT 2014 (Full-Year) 2015 (Full-Year) 2016 (Full-Year) 2017 (1st Half-Year) Total Income 100% 100% 100% 100% Brokerage fees 71.14% 66.11% 70.60% 60.85% Fees and services income 5.70% 4.25% 2.07% 8.81% Gain(loss) on trading in securities 0.78% 1.97% 1.94% 2.85% Interest and Dividend Income 20.87% 26.26% 23.93% 25.53% Other income 1.51% 1.41% 1.46% 1.96% Total Cost 100% 100% 100% 100% Variable Cost 62.94% 58.86% 54.34% 53.38% Fixed Cost 37.06% 41.14% 45.66% 46.62% Total Assets 100% 100% 100% 100% Cash 1.23% 2.16% 2.11% 4.99% Investment 1.97% 1.08% 3.84% 8.84% Account Receivable 93.21% 93.39% 89.33% 80.57% Other Assets 3.59% 3.37% 4.72% 5.60% Total Liabilities 100% 100% 100% 100% Account Payable 31.73% 18.10% 29.66% 24.21% Accrued Expense 5.15% 4.06% 4.22% 2.20% Other Liabilities 63.12% 77.84% 66.12% 73.59%

29

STRICTLY PRIVATE AND CONFIDENTIAL

MAYBANK KIM ENG THAILAND

OUR CREDIT OUTLOOK & NCR

Details of Doubtful Account Receivable

2014 (Dec) 2015 (Dec) 2016 (Dec) 2017 (Jun) Account receivables (Old Margin Loan) – NPL before 1999 240,486 240,486 240,486 240,486

Account receivables (New Margin Loan) – NPL after 1999

54,338

Account receivables - overdue cash a/c before 1999

807 807 807 807

Account receivables - overdue cash a/c after 1999

4,951 4,839 4,945 4,579

Accrued interest receivables - margin loans

14,185 14,185 14,185 14,185

Allowance for doubtful accounts

• 260,099
• 248,281
• 248,323
• 254,839

2014 (Dec) 2015 (Dec) 2016 (Dec) 2017 (Jun)

NCR 32.73 38.51 45.34 38.92 Allowance for doubtful accounts

2014 (Dec) 2015 (Dec) 2016 (Dec) 2017 (Jun)

Beginning balance of period 259,801 260,099 248,281 248,323 Add Doubtful accounts 442 347 192 6,587 Less Reversal of doubtful accounts

• 144
• 12,165
• 150
• 71

Ending balance of period 260,099 248,281 248,323 254,839 Bad Debt and Doubtful Accounts

2014 (Dec) 2015 (Dec) 2016 (Dec) 2017 (Jun)

Provision for new Doubtful Debt 442 347 192 6,587 Received payment from Doubtful Debt

• 144
• 12,165
• 150
• 71

Total 298

• 11,818

42 6,516

30

MAYBANK KIM ENG SECURITIES (THAILAND) PLC.

HEAD OFFICE : The Offices at Central World, 19th-, 20th -21st Fl., 999/9 Rama I Road, Pathumwan Bangkok 10330, Thailand Telephone : 66 (2) 658-6300 Fax : 66 (2) 658-6301 Customer Service Hotline : Telephone: 66(2) 658-5050 Email: clientservice@maybank-ke.co.th Website: www.maybank-ke.co.th

DISCLAIMER

This presentation was prepared exclusively for the benefit and internal use of the recipient and does not carry any rights of reproducing any part of this discussion paper to any party. This presentation is preliminary in nature, and is incomplete without any proper reference to, and should be viewed solely in conjunction with, the oral briefing provided by The Maybank Group. No part of this document may be reproduced or copied in any form or by any means without prior written permission or consent of The Maybank Group. In preparing this presentation, we have assumed that all the information in all publicly available sources and those provided by the management and promoters are accurate and reasonable. Accordingly, the information has not been independently verified. No warranty

• r representation, express or implied, is made with respect to the information set out in this presentation, nor will The Maybank Group

be responsible for the consequence of reliance on any opinion or statement set out herein. Please note that this presentation is an outline on an indicative basis and does not represent a commitment from The Maybank Group to finance on behalf of the recipient of this presentation in any form. This presentation would include but are not limited to those summarised herein and are subject to market conditions at the time of documentation. This presentation was prepared based on regulations and guidelines currently in force which are subject to changes from time to time. If the time for the implementation of our recommendation extends into the future, our findings and recommendations may not necessarily apply due to changing business and regulation conditions. Accordingly, we suggest continual discussions, especially prior to any implementation of our recommendation to confirm its appropriateness. Prior to entering into any transaction contemplated hereby (a “Transaction”) you should determine, without reliance upon The Maybank Group, the economic risks and merits (and independently determine that you are able to assume these risks), as well as the legal, tax and accounting characterisations and consequences of any such Transaction. In this regard, by accepting this presentation, you acknowledge that (a) we are not in the business of providing (and you are not relying on The Maybank Group for) legal, tax or accounting advice, (b) there may be legal, tax or accounting risks associated with any Transaction, (c) you should receive (and rely on) separate and qualified legal, tax and accounting advice and (d) you should apprise senior management in your organisation as to such legal, tax and accounting advice (and any risks associated with any Transaction) and our disclaimer as to these matters.