Suksan Yasasin, CEO of Chayo Group, Reveals Successful Bid for Non-Performing Debt
In an exciting announcement, Mr. Suksan Yasasin, CEO of Chayo Group Public Company Limited (CHAYO), disclosed that the company had secured a significant victory in the first half of 2023. CHAYO group successfully won a bid to purchase non-performing debt (NPL & NPA) from a financial institution, amounting to a total value of 5,336.91 million baht.
Key Highlights:
- CHAYO and Chayo Asset Management Co, Ltd emerged victorious in the auction for unsecured debt, acquiring a total of 2,770.98 million baht between January 1 and March 31, 2023. The duo also won a bid on June 30, 2023, securing 2,447.96 million baht. Together, they purchased a remarkable sum of 5,218.94 million baht in debt over two quarters.
- Chayo JV Asset Management Co, Ltd triumphed in the secured debt (Housing Loan) auction on June 20, 2023, acquiring 117.97 million baht.
As of March 31, 2023, Chayo Group managed non-performing assets (bad debts) worth 85,853 million baht, encompassing both guaranteed bad debts totaling 20,651 million baht and unsecured debt amounting to 65,202 million baht (excluding pre-foreclosed properties or APC valued at 356.09 million baht).
“During the first quarter of this year, we managed a total of 85,853 million baht in debt. In the second quarter, our successful bid allowed us to acquire debt worth approximately 2,500 million baht. Altogether, we have a staggering 100,000 million baht worth of managed debt, which will gradually generate revenue for Grŵp Chayo starting from this year,” stated Mr. Suksan.
By InfoQuest News Agency (05 Jul ’23)
Tags: CHAYO, Chayo Group, Suksan Yasasin, Thai stocks
Stock news13:242023-07-05
Mr revealed Suksan Yasasin, CEO of Chayo Group Public Company Limited (CHAYO), that During the first half of the year 2023, CHAYO group won the bid to buy non-performing debt (NPL & NPA) from a financial institution with a total value of 5,336.91 million baht.
1. CHAYO and Chayo Asset Management Co, Ltd won the auction for unsecured debt. Between 1 January – 31 March ’23, a total of 2,770.98 million baht and won the bid on 30 June ’23, an amount of 2,447.96 million baht, a total of 2 quarters, debt purchase 5,218.94 million baht
and 2. Chayo JV Asset Management Co, Ltd won the auction for secured debt (Housing Loan) on June 20, 2023 in the amount of 117.97 million baht.
While on March 31, 2023, the company has non-performing assets (bad debts) under management in the amount of 85,853 million baht (debt or claims), which is divided into guaranteed bad debts of 20,651 million baht and Unsecured debt in the amount of 65,202 million baht (excluding pre-foreclosed properties or APC in the amount of 356.09 million baht).
“During the first quarter of this year, we have 85,853 million baht in debt management in our hands and in the second quarter, we won an auction to buy debt to manage about 2,500 million baht, which is a total of almost 100,000 million baht in management debt and will gradually operate and build income for Grŵp Chayo from this year,” said Mr Suksan.
By InfoQuest News Agency (05 Jul ’23)
Tags: CHAYO , Chayo Group , Suksan Yasasin , Thai stocks
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