BAM enter SET Wait for FA study within 3 months

           Bangkok Commercial Asset Management Co.,Ltd. (BAM) has hired the financial advisor that is Trinity Securities Co., Ltd. with co-advisors; Kasikorn Securities Public Co.,Ltd., and UBS AG to list BAM’s shares on the Stock Exchange of Thailand. The agreement has been signed since July 4, 2013 then started consideration about shares’ listing strategy.

           Mr. Krit Sesavej, President of BAM, revealed that after the assignment, the financial advisors would start the first step by creating strategic plan with the details of process, procedure, number of shares for sale, suitable time periods, including the maximum benefit which BAM and its shareholders should receive. The studying process required approximately 3 months. Listing on  the Stock Exchange of Thailand was considered as a supportive factor for BAM’s flexibility in financing without being the government’s burden. This also increases BAM’s ability in competition and business running which will be benefits of the organization and shareholders in the future. In addition, once BAM has been listed on the Stock Exchange of Thailand, BAM will continue being the permanent organization of supporting financial institutes’ strength by purchasing, transferring and managing non-performing assets in the system efficiently.  

           Mr. Pakhawat Kovithvathanaphong, Chief Executive Officer of Trinity Securities Co., Ltd., said in the name of a representative of financial advisors that the advisors was pleasure in BAM’s reliable and assigning for working as the financial advisors. He was confident that the outstanding identity of BAM which is the leadership in non-performing assets management and to be the first of its kind to list on the Stock Exchange of Thailand, professional management team, outstanding profit rate, including sustainable dividend payment, can bring the good response from investors to BAM.

           Mr. Pakhawat also said that the three financial advisors are professional with high experiences in working as advisor of many large organizations, both public and private sectors. Moreover, they had the large network cover for all local and international investors. These can be the important factors to support the achievement of launching BAM’s shares into the Stock Exchange of Thailand according to the objectives.

           Bangkok Commercial Asset Management Co.,Ltd. (BAM) is a state enterprise, wholly owned by Financial Institutions Development Fund. BAM has played an important role in resolving distressed assets problem in the economic system of the country by taking transfer of non-performing loans (NPL) and non-performing assets (NPA) from financial institutions for management for 15 years. BAM has the policy to support good debtors in returning to normal economic system and recover real estate business by managing the properties for sale to increase the assets’ value to meet the market demand and create customers’ satisfaction completely and efficiently. Currently, BAM has total assets of 73,390 million baht. In 2012, BAM had the cash collection of 13,762 million baht which was 14.68% above the target. The achievement in cash collection caused by debt restructuring 6,057 million baht and by sales of properties (NPA) 7,705 million baht. Previously, BAM has been achieving the profit continuously from 2002. In 2012, the net profit was 3,262 million baht, increased by 11.14% compared to the net profit of 2011 which was only 2,935 million baht.