TH reveals “Tong Hua Asset Management” Q1/62 began to buy the first non-performing debt of 1 billion baht, aiming for the whole year of 6 billion, preparing to push for listing in 67, revealing between banks and non-banks, set up JV to manage debt
TH reveals “Tong Hua Asset Management” Q1/62 began to buy the first non-performing debt of 1 billion baht, aiming for the whole year of 6 billion, preparing to push for listing in 67, revealing between banks and non-banks, set up JV to manage debt
Mr. Somnuk Kayawatthanakit, Chairman of the Board of Directors Plc. Tong Hua Holding ( TH ) and the companyAsset Management Tong Hua Company Limited (THAW) revealed that in the first quarter of this year, the companybuy debtThe first lump has arrived, amounting to 1,000.55 million baht, with the company planning to buy all debts this year. 6 billion bahtwhich makes the profit of the company will grow by leaps and bounds And it is considered as the second lump sum after the company bought the claim for non-performing debt of 3,045 million baht on August 31, 2021.
which started to recognize income of 59.5 million baht in the 4th quarter of last year, making the year 2021 the company’s profit almost 4 times more than in 2020 and has announced the allocation of warrants to purchase ordinary shares 4 shares per 1 warrant, with a conversion price of 1 baht for ordinary shares to support debt purchases in the following years
Mr Somnuk said that the companyAsset Management Tong Hua Company Limited also plans to raise funds in the Stock Exchange of Thailand in 2024 and it is expected that due to the changing revenue structure of Tong Hua Holdings Plc. (TH ) it is necessary for the company to move out of the media category. and publications of the Stock Exchange of Thailand
In addition, the company is currently licensed for business registration.asset managementfrom the Bank of Thailand It’s all right causing benefits except for fees and various taxes and duties from the transfer and the acquisition of property rights in accordance with the Emergency Decree on Asset Management Companies B.E. 2541 which the Companywill start negotiating for a bank partner and financial institutions to manage non-performing debts with collateral
It is expected that concrete results will be seen within the fourth quarter of 2022 or the first quarter of 2023. On January 27, the Bank of Thailand by Mrs. Rung Mallikamas, Assistant Governor, announced that the Bank of Thailand T. has measures to encourage commercial banks and asset management companies can invest in the businessventure capital (JointVenture) for financial institutions able to manage non-performing assets more efficiently This will result in the debtor receiving more assistance.
Proofread by….Suree Silawong
