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I wanted to buy Kasikorn Bank stock with my online banking, client for 10+ years and then this


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This approach isn't unique to Kasikorn Bank. Many non-US mutual funds will not allow sales to US citizens or green card holders because that can trigger US reporting requirements even though the mutual fund has no other connection to the US. It looks like Kasikorn wishes to at least screen applicants manually to eliminate this potential issue.

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Justanotherone, are you a U.S. citizen, or do you have access to a U.S. brokerage account?  I looked at Kasikorn and SCB recently as I think that the larger Thai banks are undervalued.  Kasikorn Bank actually trades OTC in the U.S. as an American Depository Receipt (ADR) under the symbol KCPCY.  One KCPCY ADR share = 4 Thai shares, so the ADR price hovers right at four times the price at which KBANK is trading, after converting baht to dollars.

 

SCB also trades in the U.S. as an ADR under the symbol SMUUY.  Not sure what the ADR-to-Thai share ratio is.

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16 hours ago, SCOTT FITZGERSLD said:

i am sure you can buy a stock of this bank, or many other thai companies, with

an international broker like IB or via a bank in hong kong.

so why won't you move your money to hong kong, buy your thai shares there for much cheaper commision, enjoy much better customer service, and let the thai bank dry with it's stupidity.

acctually,a much better idea will be to  buy other stocks because thai banks are going bankrupt.

What complete  <deleted>.  There is no way in the world a foreign broker commissions to buy or sell thai stocks would be less than a thai broker because the only way for the foreign brokers to execute thai stock trades is through a thai broker.  And no, Thai banks are not going bankrupt. Not a single thai bank has gone bankrupt over the last 20 years, whilst in that same time thousands of European and US banks have

 

11 hours ago, ChrisP24 said:

Justanotherone, are you a U.S. citizen, or do you have access to a U.S. brokerage account?  I looked at Kasikorn and SCB recently as I think that the larger Thai banks are undervalued.  Kasikorn Bank actually trades OTC in the U.S. as an American Depository Receipt (ADR) under the symbol KCPCY.  One KCPCY ADR share = 4 Thai shares, so the ADR price hovers right at four times the price at which KBANK is trading, after converting baht to dollars.

 

SCB also trades in the U.S. as an ADR under the symbol SMUUY.  Not sure what the ADR-to-Thai share ratio is.

That's bad advice too.  The US listed ADRs have very little liquidity, and virtually no tax advantages to owning Thai shares directly.   If you are based in Thailand, tax resident, then owning shares directly thru a thai stockbroker is the way to do it.

Note: Banks don't sell shares.  And no shares are not the same thing as funds

 

 

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yer I been watching kas shares for a few months they were going down and down and the last couple of weeks they have shot up kas is also affiliated with one of the big four Chinese banks well thanks for the info on the brokers I had no idea on that

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You need a trading account and to buy stocks with NVDR-option when being a foreigner, which should be possible for a large bank like Kasikorn.

 

If NVDR-option is not available, you need to buy with the code plus "-F", they are separated priced and traded.

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11 hours ago, Time Traveller said:

 

That's bad advice too.  The US listed ADRs have very little liquidity, and virtually no tax advantages to owning Thai shares directly.   If you are based in Thailand, tax resident, then owning shares directly thru a thai stockbroker is the way to do it.

Note: Banks don't sell shares.  And no shares are not the same thing as funds

 

 

OP wanted to buy Kasikorn  Bank shares and that is one way to do it.  The ADRs do of course have a much lower trading volume, but as I post this early in the afternoon on a trading day, Kasikorn's ADR bid/ask spread is $16.75/$17.10 vs. 140.00/140.50 baht for the Thai shares (while Thai market is closed).  ADR shares trade every market day, with an average daily volume of over 20k shares.  So yes, it's not an entirely efficient way to buy, but it is a way, and might make sense for OP depending on OP's circumstance.

 

Personally I would rather have my investments held in a brokerage account in my home country.  And as for taxes, if OP is a U.S. citizen then his dividends and eventual capital gains are going to be taxed in the U.S. no matter which share he buys (and he will get a foreign tax credit for anything withheld/paid to Thailand on either share).  

 

But individual situations differ and I agree that this would not be the best way for someone in your situation.  

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