Thailand’s Seamico Securities plans to form a joint venture with a Vietnamese partner to expand its business in Indochina, said the company's Chief Executive Officer.

Seamico CEO Chaipatr Srivisarvacha said the company will take up to a 50 percent stake in one of three Vietnamese brokers, according to local media on August 4.

"Despite a sharp decline in share prices in the Vietnamese market, we still see strong growth opportunities in Vietnam," the Bangkok Post quoted Mr Chaipatr’s saying.

He said any partner selected by Seamico “must be financially strong and have investments in good assets”, adding that the Bangkok-based company hopes to close a deal by the end of the year.