UOB-KayHian Holdings' 3Q net profit plunged 25% to $15.2m

Blame it on weak trading across major markets.

UOB-KayHian Holdings' trading volumes in major regional markets where it operates remained low. It recorded a pre-tax profit of S$17.9m and after tax profit of S$15.2m, a decrease of 25%.

Commission income fell from S$58m to S$51.2m, reflecting a decrease of 11.8%. Interest income reduced 6.4% from S$21m to S$19.6m with lower financing activities.

Other operating revenue increased 11.7% from S$5.3m to S$5.9m with higher corporate finance activities.

Overall commission and personnel expenses fell due to lower business volume.  Commission dropped 2.2% from S$12.4m to S$12.1m, a smaller decrease relative to reduction in income, due to conversion of employed dealers to remisiers.