SET Symbol: ZMICO
Currency THB
Last Done 1.28
Volume (Shares) 987,600
Change -0.01
% Change -0.78%
Day's Range 1.28 - 1.29
52 Weeks' Range 1.11 - 1.60
Updated: 22 Aug 2017 16:36


The reviewed consolidated operating result for the first quarter ended March 31, 2017

The Company and its subsidiary generated net income of Baht 161.40 million comparing to the same period of last year with net income of Baht 20.37 million. The Baht 141.03 million increase of net income were from the following reasons:

  • Total revenue increased of Baht 185.74 million or 274 % due to :-
    • Gain from investment in securities increased of Baht 192.85 million from gain from reclassification investment port from available for sell investment to trading investment of Baht 167.25 million and gain from investment in equity securities of Baht 31.16 million.
    • Share of profit from associated companies under equity method has increased of Baht 2.25 million mainly from Share of profit from operating result of KT ZMICO under the equity method according to 49.71 % of investment from Baht 8.60 million in the first quarter of the year 2016 to Baht 10.98 million in the current period that increased of Baht 2.38 million due to KT ZMICO generated net profit of Baht 33.72 million for the first quarter of the year 2017 increased from the first quarter of year 2016 of Baht 15.34 million due to:-
      1. KT ZMICO had total revenue of Baht 389.66 million that increased of Baht 38.80 million or 11 % due to:-

        - The Brokerage fee income from securities increased from the first quarter of the year 2016 of Baht 218.39 million to of Baht 223.23 million in the first quarter of the year 2017 which increased of Baht 3.84 million. In the first quarter of the year 2017, Daily average trading volume increased 7.9% from the same period of last year which were in line with an increase in market trading volume (excluding securities trading account) that increased from of Baht 41.25 billion to of Baht 45.76 billion or 10.9%
        - The Brokerage fee income from TFEX decreased from the first quarter of the year 2016 of Baht 26.04 million to of Baht 17.39 million.
        - Interest received from margin loan lending to retail customers for trading securities have increased of Baht 21.30 million according to the volume of transaction on margin loan due to the average loan increased by 46% from the same period of last year.
        - Fee and service income increased of Baht 16.64 million from advisory service fee and arrangement fee in Bill of Exchange.

      2. KT ZMICO had total expenses increased of Baht 23.67 million or 7 % due to:-

        - Finance cost increased of Baht 17.60 million due to interest paid from borrowings in order to support credit balance transactions increased.
        - Employee expenses increased of Baht 9.21 million.

        The operating results in which equity method is applied of KT ZMICO for the first quarters of the year 2017 are as follows:-

        Net securities business income 382.36 million Baht
        Operating expenses (349.47) million Baht
        Corporate income tax (10.79) million Baht
        Net profit 22.10 million Baht

        - Fee and service income decreased of Baht 9.56 million from mutual fund and private fund managements from the subsidiary (Solaris Asset Management Company Limited) due to The Asset under Managements have decreased from Baht 29.17 billion to Baht 4.89 billion as well as the number of mutual funds and private funds under management have decreased from 67 funds in the first quarter of the year 2016 to 41 funds in the current period.

        The operating results of Solaris can be summarized as below:-

          For the fourth quarter
          2017 2016
        Fee and service incomes 18.88 28.44
        Other incomes 1.48 0.63
        Operating expenses (13.12) (21.99)
        Corporate income tax (1.40) (1.41)
        Net profit 5.84 5.67
  • Total expenses increased of Baht 12.76 million or 31 % due to:-
    • Employee expenses increased of Baht 6.74 million.
    • Fee and services expenses decreased of Baht 8.82 million due to decreased agent fee of mutual fund and private fund managements from the subsidiary (Solaris Asset Management Company Limited).
    • The Company increased reserve impairment loss from investment of Baht 10.01 million due to an increase of reserve impairment loss of investment in Thanh Cong Securities Joint Stock Company (Thanh Cong) of Baht 9.46 million in the first quarter of the year 2017.
    • Other expense increased of Baht 4.43 million mainly from consulting fee increased of Baht 2.49 million and unrealized loss on exchange rate increased of Baht 1.68 million.
    • From the above reasons, the net profit of the Company and its subsidiary for the first quarter of year 2017 increased of Baht 141.03 million from the same period of the year 2016.

The reviewed separate operating result for the first quarter ended March 31, 2017

The Company generated net profit of Baht 150.52 million comparing to the same period of last year with net profit of Baht 33.81 million. The increase in net income of Baht 116.71 million from the followings:-

  • Total revenue has increased of Baht 170.85 million which were mainly from :
    • Gain from investments increased of Baht 192.46 million mainly from gain from reclassified investment port from available for sell investment to trading investment of Baht 167.25 million and gain from investment in equity securities of Baht 31.55 million
    • Interest and dividend income decreased of Baht 21.64 million mainly from dividend received from KT ZMICO of Baht 21.90 million in the first quarter of the year 2016 whereas there is no dividend received transaction in the first quarter of the year 2017.
  • Total expenses increased of Baht 22.18 million due to:
    • Employee expenses increased of Baht 7.75 million.
    • The Company increased reserve impairment loss from investment of Baht 9.84 million due to an increase of reserve impairment loss of investment in Thanh Cong of Baht 9.46 million in the first quarter of the year 2017.
    • Other expense increased of Baht 4.19 million mainly from consulting fee increased of Baht 2.43 million and unrealized loss on exchange rate increased of Baht 1.68 million.

    From the above reasons, the net profit of the Company for the first quarter of the year 2017 increased of Baht 116.71 million from the same period of the year 2016.

By the way, the consolidated net income of the first quarter of 2017 was more than the separate net income of Baht 10.88 million. According to the accounting standards the consolidated income statement was recognized share of profit from associated company under the equity method net of Baht 10.85 million.



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