After acquiring a 78 percent stake in United Securities (US) from its former shareholders, the Vongkusolkij family, AP Group of Mr. Mitsuji Konoshita, the president, has dispatched score of executives and specialists from Japan to help run the local management.

Konoshita said the group sets three objectives for United Securities:

1. To become an international securities firm that provides one-stop investment services in Thailand to foreign investors. Its prime target is Japanese customers.

During the first six months of operation, 90 percent of its customers are local investors and 98 percent are individual investors.

2. Expanding into an investment banking business: AP Group will be in close tie with United Securities to provide fund management services and enhance its assets management performance. The group in cooperation with the Vongkusolkij family will set up an affiliate, United Assets Management Co., Ltd., to provide personal fund management services.

“We are in talks with potential partners in the Middle East, Japan and Singapore to offer a special package on investment opportunities in Thailand market. We have expected score of investors from the Middle East in particular,” a spokesperson to the company said.

3. Expanding into short-term debt security management services: According to Thailand financial data, United Securities is the country’s second largest broker of debt security after UOB Bank.

United Securities said it has seen ratio in earning structure between assets management service and short-term debt security management service rose to 65 to 20 per cent, while the rest 15 percent come from investment banking services.

Konoshita said he aims to make United Securities a financial information center for APF Group’s affiliates in Thailand, which consisting of Zeavola Resort & Spa, Group Lease Co., Ltd., and APF International Insurance.

The company performance is fluctuating with a net loss of 19 million baht in 2006, a net profit of 15 million baht in 2007, and a net loss of 9.5 million baht in the first half of 2008.