Chet Asia Public Company Limited (CHASE) is preparing for the initial public offering (IPO) of 562 million shares after the Securities and Exchange Commission (SEC) approved the application for permission to sell securities already continuing to expand and continue to grow the business Raise the potential as a leader in the debt management industry from more than 25 years of experience, reinforced by an experienced management team. and personnel with knowledge and expertise in finance and the law
“CHASE has grown to be the preeminent full service debt management company in the industry. and leading financial institutions have trusted him Including key partners RS Group, which invested through a subsidiary in the 35% share, anticipating the opportunity for the company’s growth,” said Mr. Pracha Chaisuwan, CEO of CHASE.
The Company is confident that this IPO will help motivate the CHASE group to continue expanding its business to its full potential. ready to continuously strengthen and expand the company’s growth Emphasizes leadership in debt management services ready to support partners in debt collection. At the same time, he acts as a consultant and educates the disciplinary peers in debt management for the debtor.
Mr Pracha said that from statistical data The amount of non-performing loans (NPLs) in the system is likely to continue to increase in line with the increase in commercial bank loans from the impact of the COVID-19 epidemic and the world economic slowdown – wide In 2021, the ratio of NPL to total loans of commercial banks was as high as 531 billion baht, and it was expected that commercial banks would gradually sell bad debts after the end of measures to help debtors from the impact of COVID-19 at the end of 22 is an opportunity to buy non-performing Assets And Thailand’s economy is improving, with GDP in 2022-2023 expected by the Bank of Thailand to rise to 3.3% and 3.7%, respectively, before opening up the country. This will lead to better payment of debtors.
Because CHASE is a non-performing integrated asset management company. It was predicted that this year should be a good year for business. Because there seem to be a lot of underperforming assets in the market. while the debtor’s repayment improved
Currently, CHASE’s main business is managing non-performing assets from receiving transfers of non-performing assets from financial institutions. Willing to provide follow-up and debt collection services. and offers comprehensive litigation services With a strong experienced management team and follow-up team. together with a legal team that performs a full range of debt tracking and management, a total of more than 400 people, allowing total control of management and costs. Under the main business strategies used to create sustainable growth are as follows:
1. Expand the loan portfolio to non-performing assets (NPL).
2. Increase the efficiency of debt collection through an automated system.
3. Develop and expand the debt collection and debt collection team.
4. Build relationships with various financial institutions
5.Increase service efficiency and increase communication channels
In addition, CHASE is one of the leaders in the business of bad debt collection and management. It has a good track record and past debt management As a result, we are trusted and have a good relationship with leading financial institutions,” added Pracha.
Ms Voralak Chaisuwan, Chief Financial Officer, said that CHASE’s overall performance has grown steadily during 2019-2021 at a compound annual growth rate (CAGR) of more than 10.8% The asset management business of buying or transferring NPL is about 60 % and the collection and debt collection business is about 34%.
meanwhile the Group’s net profit margin has increased. Because revenue has grown more than the growth in service and professional costs, however, during the 3Q22 net profit margin decreased from the same period last year. of the higher provision for expected credit losses (ECL).
Regarding the financial status of the Group in Q3/2022, the Group had assets of 2,875.5 million baht and a debt-to-equity (D/E) ratio of 0.4 times, which supports the opportunity to buy the Group’s NPLs in the future.
Mr Pongsak Prukpaisan, Managing Director of Kasikorn Securities, added that CHASE is a strong company with long experience in the non-performing asset management business. The results of collecting bad debts bought to be managed in the past were at a good level compared to competitors.
In addition, commercial banks are trusted in debt collection. which can be managed professionally It also fully assists the debtor. and has the ability to collect debts that require law enforcement. This can be seen from the higher commission rate of 20% due to CHASE’s ability to collect difficult debts. As a result, the bank sends more debt to CHASE than any other company, and gives CHASE a high growth opportunity.
Therefore, the proceeds from the IPO funding will be used to buy non-performing assets from financial institutions. and strengthen the company’s business Overall, Thailand’s economy in 2023 should improve from the country’s full opening. This will allow the debtor to be able to pay off debt better. This even has a positive effect on business growth.