JMT Group has unveiled its investment deal: Kasikorn Investure Company Limited (KInvesture), a KBank subsidiary, has invested in J Asset Management Company (JAM) by holding 9.9 percent of the company’s shares, amounting to more than 3.5 billion Baht, in order to support its future growth. This move will reinforce the goal of JMT Network Services Public Company Limited (JMT) in becoming Thailand’s number-one asset management company.
Patchara Samalapa, KBank President, said that KASIKORNBANK (KBank) has teamed with J Asset Management Company Limited (JAM), a subsidiary of JMT Network Services Public Company Limited (JMT), in setting up JK Asset Management Company (JK AMC) – the first joint venture between a commercial bank and an AMC under the Bank of Thailand’s policy to address the problem of soaring NPLs triggered by the COVID-19 outbreak. The Bank sees potential in JAM from such cooperation, including JAM’s in-house technologies and personnel with operational expertise arising from their extensive business experience. The Bank’s decision to invest stems from JAM’s promising business growth.
Kasikorn Investure Company Limited (KInvesture), a KBank subsidiary, has invested in J Asset Management Company (JAM) by holding 9.9 percent of the company’s shares, amounting to more than 3.5 billion Baht, in order to support its future growth.
Piya Pong-acha, Deputy Chief Executive Officer, JMART PCL., and Executive Director, JMT Network Services PCL., said, “As the economy has yet to fully recover following the COVID-19 pandemic, and there are uncertainties seen in the global economy including Thailand, the amount of non-performing loans continues to rise unabated, thus offering JAM and JK AMC opportunities to invest in the purchase of distressed assets from other financial institutions for management.
“The main goal of the two companies is to bring debtors into the financial system again by serving as a financial advisor for those who can make efficient debt repayments, and using data analytics in proposing debt repayment conditions. Additionally, various technologies have been used to develop the application in offering debtors greater convenience for selecting an installment repayment plan in accordance with their debt servicing ability, and for making repayments via the application. Such endeavors are intended to support the country’s economic growth, as well.”
Sutthirak Trichira-aporn, Chief Executive Officer of JMT Network Services Public Company Limited (JMT), added, “J Asset Management Company (JAM), in collaboration with KInvesture, has operated a non-performing loan (NPL) management business, buying secured and unsecured NPLs under JK Asset Management Company (JK AMC) since June 2022, and started achieving its business target in the third quarter of 2022. Recently, KInvesture, a KBank subsidiary, invested in JAM by holding the company’s common shares. The move reflects strength in management, expertise and the growth potential of its group of companies, while also increasing opportunities to reach non-performing asset (NPA) buyers nationwide in accordance with its goals. JMT aims to become the number one in the non-performing asset management business by 2025.”
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