JMT Network Services Public Company Limited (SET: JMT) and Kasikornbank Public Company Limited (SET: KBANK) today set to unveil their first joint venture company, “JK Asset Management Company Limited” or “JK AMC”.
The joint venture company focuses on non-performing asset management, with JMT’s subsidiary J Asset Management Company Limited (JAM) holding 50% and Kasikorn Vision Company Limited (KVISION), a subsidiary of KBANK’s financial conglomerate, holding 50%.
The Bank of Thailand has granted JK AMC permission to register as an asset management company on June 21, 2022.
The establishment of JK AMC has the objective of operating non-performing asset management business in accordance with the relevant BOT’s laws and regulations, by acquiring non-performing loans including nonperforming assets from the companies under the financial conglomerate of KBANK, other financial institutions and other companies, both secured and unsecured debtors under the terms and conditions of the relevant laws and regulations.
JMT expects that this cooperation will help the debtors improve their financial status and return to the financial institutions system as well as help support the problem of non-performing debts of the financial institutions system with the Company’s potential and capability in managing the assets despite the various economic risk factors.