AIRA Capital PLC, a firm that invests in financial companies, plans to get two foreign companies listed in the Market for Alternative Investment (MAI) in Thailand next year,
The company is planning to bring more international financial products to the Thai investors by collaborating with foreign partners. “We are the advisor for three- four companies at this moment and we will help at least two companies to be listed in MAI in 2015,” said AIRA’s chief executive officer ( CEO) Nalinee Ngamsettamas.
AIRA’s has five subsidiaries, comprising AIRA Securities PLC, AIRA Factoring PLC, AIRA International Advisory (Singapore) Pte. Ltd, AIRA Advisory Company and the latest AIRA and AIFUL PLC, which is a joint venture with AIFUL Corporation, one of Japan’s top four financial firms.
It targets to set up at least three more subsidiaries by 2018; a target that is in line with its aggressive expansion plan, she said.
“We are eyeing on the opportunity to acquire or to plan a joint venture with high-potential firms. Our focus is on leasing, insurance and financing,” she said, adding that the company is already talking to a few companies and expects collaborations to be announced in the second quarter of the next year.
The move is aimed at almost quadrupling its assets to 20 billion baht ($625 million) by that time.
AIRA Capital took over a brokerage house eight years ago and changed its name to AIRA Securities followed by the acquisition of advisory and factoring firms before restructuring its business group.
Although the group does not have any financial back-up in the banking business, Nalinee is confident in its strength. The Chulangkul and Jungrungreangkit families, known as tycoons in the automative industry, and the Wilailak Family, one of the most affluent in the telecommunication sector, are shareholders in AIRA Capital as well as the latest AIRA and AIFUL PLC.
The company is confident to see the profit in the first half of this year, mainly generated from its securities business following an increase in the number of stock investors. Currently, it has the market share of 1.5%, up from 1% in the beginning of this year, and holds around 30,000 accounts.