Maybank Kim Eng Securities Thailand : Financial Statement Q1-2023

Maybank Securities (Thailand) Public Company Limited

Review report and interim financial information For the three-month period ended 31 March 2023

Independent Auditor's Report on Review of Interim Financial Information

To the Shareholders of Maybank Securities (Thailand) Public Company Limited

I have reviewed the accompanying statement of financial position of Maybank Securities (Thailand) Public Company Limited as at 31 March 2023, and the related statements of comprehensive income, changes in shareholders' equity and cash flows for the three-month period then ended, as well as the condensed notes to the interim financial statements (collectively "interim financial information"). Management is responsible for the preparation and presentation of this interim financial information in accordance with Thai Accounting Standard 34 Interim Financial Reporting. My responsibility is to express a conclusion on this interim financial information based on my review.

Scope of Review

I conducted my review in accordance with Thai Standard on Review Engagements 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Thai Standards on Auditing and consequently does not enable me to obtain assurance that I would become aware of all significant matters that might be identified in an audit. Accordingly, I do not express an audit opinion.

Conclusion

Based on my review, nothing has come to my attention that causes me to believe that the accompanying interim financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard 34 Interim Financial Reporting.

Wanwilai Phetsang

Certified Public Accountant (Thailand) No. 5315

EY Office Limited

Bangkok: 10 May 2023

Maybank Securities (Thailand) Public Company Limited
Statement of Financial Position
As at 31 March 2023
				(Unit: Thousand Baht)
	Note		31 March 2023		31 December 2022
			(Unaudited		(Audited)
			but reviewed)
Assets
Cash and cash equivalents	2	520,768	450,708
Receivables from Clearing House and brokers		891,167	1,202,184
Securities and derivatives business receivables	3	17,544,591	18,674,388
Investments	5	2,701,700	2,847,382
Loans to employees		170,449	180,686
Equipment		100,292	103,350
Right-of-use assets		175,869	183,890
Intangible assets		56,212	55,697
Deferred tax assets		121,649	108,574
Other assets		484,064	420,688
Total assets		22,766,761	24,227,547

The accompanying notes are an integral part of the financial statements.

Maybank Securities (Thailand) Public Company Limited
Statement of Financial Position (continued)
As at 31 March 2023
				(Unit: Thousand Baht)
	Note		31 March 2023		31 December 2022
			(Unaudited		(Audited)
			but reviewed)
Liabilities and shareholders' equity
Liabilities
Borrowings from financial institutions		2,585,000	2,085,000
Payables to Clearing House and brokers		652,574	1,073,932
Securities and derivatives business payables	6	1,277,378	3,624,749
Financial liabilities designated at fair value
through profit or loss		435,041	248,759
Derivatives liabilities	4	170,736	170,476
Income tax payable		143,662	94,885
Debt issued and other borrowings	7	11,669,070	11,169,376
Provisions		283,622	274,767
Lease liabilities		173,881	181,712
Other liabilities		190,987	283,369
Total liabilities		17,581,951	19,207,025
Shareholders' equity
Issued and paid-up share capital
570,814,500 ordinary shares of Baht 5 each		2,854,073	2,854,073
Share premium		523,571	523,571
Premium on treasury shares		19,218	19,218
Retained earnings
Appropriated - statutory reserve		286,125	286,125
Unappropriated		1,499,321	1,335,033
Other components of shareholders' equity		2,502	2,502
Total shareholders' equity		5,184,810	5,020,522
Total liabilities and shareholders' equity		22,766,761	24,227,547
		-	-

The accompanying notes are an integral part of the financial statements.

Directors

(Unaudited but reviewed)

Maybank Securities (Thailand) Public Company Limited

Statement of comprehensive income

For the three-month period ended 31 March 2023

	(Unit: Thousand Baht, except earnings per share expressed in Baht)
		Note	2023	2022
Profit or loss:
Income
Brokerage fees income	8	397,517	567,694
Fees and service income	9	43,607	39,042
Interest income	10	233,031	183,099
Gains and returns on financial instruments	11	73,192	126,288
Other income			38,651	22,839
Total income			785,998	938,962
Expenses
Employee benefit expenses			283,432	359,841
Fees and service expenses			44,956	51,254
Interest expenses			109,996	65,099
Expected credit losses (reversal)			2,193	(828)
Other expenses			140,455	111,561
Total expenses			581,032	586,927
Profit before income tax			204,966	352,035
Income tax	12	(40,678)	(70,436)
Profit for the period			164,288	281,599
Other comprehensive income:
Other comprehensive income for the period			-	-
Total comprehensive income for the period			164,288	281,599
Earnings per share
Basic earnings per share			0.29	0.49

The accompanying notes are an integral part of the financial statements.