Maybank Kim Eng Securities Thailand : Financial Statement Q3-2022

Maybank Securities (Thailand) Public Company Limited

Review report and interim financial information For the three-month and nine-month periods ended 30 September 2022

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 30 September 2022, the related statements of comprehensive income for the three-month and nine-month periods then ended, and the related statement of changes in shareholders' equity and cash flows for the nine-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.

Ratana Jala

Certified Public Accountant (Thailand) No. 3734

EY Office Limited

Bangkok: 1 November 2022

Maybank Securities (Thailand) Public Company Limited
Statement of Financial Position
As at 30 September 2022
				(Unit: Thousand Baht)
	Note		30 September 2022		31 December 2021
			(Unaudited		(Audited)
			but reviewed)
Assets
Cash and cash equivalents	2	355,549	800,844
Receivables from Clearing House and brokers		1,611,435	550,049
Securities and derivatives business receivables	3	17,352,732	21,600,700
Derivatives assets	4	236,351	71,638
Investments	5	2,328,846	3,273,149
Loans to employees		187,325	198,211
Equipment		96,367	88,426
Right-of-use assets		203,262	267,789
Intangible assets		48,875	35,137
Deferred tax assets		94,099	83,292
Other assets		454,184	384,424
Total assets		22,969,025	27,353,659

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

Maybank Securities (Thailand) Public Company Limited
Statement of Financial Position (continued)
As at 30 September 2022
				(Unit: Thousand Baht)
	Note		30 September 2022		31 December 2021
			(Unaudited		(Audited)
			but reviewed)
Liabilities and shareholders' equity
Liabilities
Borrowings from financial institutions		2,085,000	-
Payables to Clearing House and brokers		4,472	1,450,434
Securities and derivatives business payables	6	2,301,191	2,511,550
Financial liabilities designated at fair value
through profit or loss		99,321	-
Derivatives liabilities	4	1,530	24,771
Income tax payable		38,029	98,283
Debt issued and other borrowings	7	12,745,805	17,520,271
Provisions		325,445	295,452
Lease liabilities		199,709	260,408
Other liabilities		325,914	378,879
Total liabilities		18,126,416	22,540,048
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		1,157,120	1,128,453
Other components of shareholders' equity		2,502	2,171
Total shareholders' equity		4,842,609	4,813,611
Total liabilities and shareholders' equity		22,969,025	27,353,659
		-	-

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 30 September 2022

	(Unit: Thousand Baht, except earnings per share expressed in Baht)
		Note	2022	2021
Profit or loss:
Income
Brokerage fees income	9	345,182	614,377
Fees and service income	10	85,992	47,685
Interest income	11	179,151	178,360
Gains (losses) and returns on financial instruments	12	37,747	(2,969)
Other income			28,118	17,900
Total income			676,190	855,353
Expenses
Employee benefit expenses			309,992	397,056
Fees and service expenses			43,810	59,300
Interest expenses			55,550	65,132
Expected credit losses			655	684
Other expenses			122,320	107,362
Total expenses			532,327	629,534
Profit before income tax			143,863	225,819
Income tax	13	(26,169)	(42,179)
Profit for the period			117,694	183,640
Other comprehensive income:
Other comprehensive income for the period			-	-
Total comprehensive income for the period			117,694	183,640
Earnings per share
Basic earnings per share			0.21	0.32

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