Dr. Rak Vorrakitpokatorn, Chief Executive Officer of Bangkok Commercial Asset Management Public Company Limited (SET: BAM), revealed that the company is currently discussing with the Board of Directors to change its dividend payment policy from once a year to twice a year. Meanwhile, the company will maintain its dividend payout ratio (DPR) at 80-90% of net profit to keep the dividend yield at 6-7% per year. The debt-to-equity ratio (D/E) is targeted to be lowered to below 2.2 times within 2026.
The debt collection target for this year is set at 18-19 billion baht, divided into 11 billion baht of non-performing loans (NPL) and 8 billion baht of non-performing assets (NPA). The average quarterly collection is expected to be between 4-5 billion baht. The achievement of this target will be possible due to the company’s proactive asset management strategy, as well as accelerating the disposal of assets in its portfolio through the “Public Asset” project, which has already completed its first phase and sold over 1,500 items.
For the next phase, the company is moving forward with “Public Asset” Phase 2, increasing the maximum asset price ceiling from 3 million to 5 million baht per item, with a target to sell 5,000-6,000 items. In addition, in the second quarter of 2026, BAM plans to launch a new project called “BAM Premium,” which will offer premium assets such as hotels and department stores for sale.
The acceleration of asset disposal has significantly reduced the number of assets in BAM’s portfolio, currently standing at under 21,000 items compared to the previous high of 25,000 items. Subsequently, the company plans to purchase more non-performing loans (NPL) to push the asset portfolio back to the original target of 25,000 items. BAM has set aside an investment budget of 5-6 billion baht for the purchase of new debts, totaling 35 billion baht in outstanding debt. Proactive asset management also helps prevent assets from remaining in the portfolio for long periods, resulting in a reduced burden of loan-loss provisions for the company this year.
Regarding the progress of establishing a joint venture asset management company (JV AMC), the company initially planned to collaborate with two financial institutions, but is now left with only one, as some large commercial banks have changed from forming a JV AMC to a cooperation model in asset management instead.
“Within this year, there will be five partners in total—both in JV AMC and joint debt management—including major commercial banks, with a total outstanding debt of 150 billion baht. It is expected that a memorandum of understanding (MOU) will be signed for one JV AMC and four other debt management collaborations within the third quarter of 2026,” Dr. Rak stated.
