Annual Registration Statement

(Form 56-1)

As of December 31^(st) 2004

KGI Securities (Thailand) Public Company Limited

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323 United Center Building, 9^(th) ,23^(rd) -25^(th) ,45^(th) Floor,
Silom Road,

Silom Sub District, Bangrak District, Bangkok 10500, Thailand

Tel: 02-231-1111 Fax: 02-631-2714

Website: http://www.kgieworld.co.th

Content

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|        |                                                     | Page  |
+--------+-----------------------------------------------------+-------+
| Part I | Executive summary                                   | 1     |
+--------+-----------------------------------------------------+-------+
| Part   | Company Information                                 | 2     |
| II     |                                                     |       |
+--------+-----------------------------------------------------+-------+
|        | 1. Risks                                            | 3     |
+--------+-----------------------------------------------------+-------+
|        | 2. Description of business                          | 5     |
+--------+-----------------------------------------------------+-------+
|        | 3. Business lines                                   | 11    |
+--------+-----------------------------------------------------+-------+
|        | 4. Research and development                         | 21    |
+--------+-----------------------------------------------------+-------+
|        | 5. Assets used for business                         | 22    |
+--------+-----------------------------------------------------+-------+
|        | 6. Future Plan                                      | 26    |
+--------+-----------------------------------------------------+-------+
|        | 7. Legal cases                                      | 27    |
+--------+-----------------------------------------------------+-------+
|        | 8. Capital structure                                | 28    |
+--------+-----------------------------------------------------+-------+
|        | 9. Management                                       | 30    |
+--------+-----------------------------------------------------+-------+
|        | 10. Internal controls                               | 48    |
+--------+-----------------------------------------------------+-------+
|        | 11. Connected party transactions                    | 49    |
+--------+-----------------------------------------------------+-------+
|        | 12. Financial position and operating results        | 50    |
+--------+-----------------------------------------------------+-------+
|        | 13. Other relevant Information                      | 66    |
+--------+-----------------------------------------------------+-------+
| Part   | Verification of information                         | 68    |
| III    |                                                     |       |
+--------+-----------------------------------------------------+-------+
|        | Attachment 1 Details of Directors and Executives    | 70    |
+--------+-----------------------------------------------------+-------+
|        | Attachment 2 Details of Directors in Subsidiary     | 76    |
|        | Companies                                           |       |
+--------+-----------------------------------------------------+-------+
|        | Attachment 3 Audit Committee Report                 | 78    |
+--------+-----------------------------------------------------+-------+
|        | Attachment 4 Branch Office                          | 80    |
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