Business Services Industry
SCB Securities to Triple Capital to 5 Billion Baht.
Knight Ridder/Tribune Business News, August, 2003
By Nuntawun Polkuamdee, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Aug. 28--SCB Securities, a unit of Siam Commercial Bank, plans to increase its capital to five billion baht from 1.5 billion now by the end of the year.
The capital increase will help SCB Securities expand its investment portfolio and enter into new business lines such as distressed asset management and development.
M.L. Chayotid Kridakon, managing director of SCB Securities, said the brokerage currently handled securities services, investment banking, investment portfolio and asset management on behalf of the SCB group.
The bank was consolidating its investment banking operations around wholly-owned subsidiary SCB Securities, one of three...
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