Dr. Rak Vorrakitpokatorn, Chief Executive Officer of Bangkok Commercial Asset Management Public Company Limited (SET: BAM), revealed at the Opportunity Day event that BAM is moving forward with its 2026 business strategy.
The company aims to generate consistent revenue and reduce reliance on income from large assets, while aggressively promoting a partnership model to penetrate the nationwide government officer customer base. BAM is also working to lower its financial cost below 3% within this year, with targets set at a net profit of THB 2 billion and cash collection of THB 18 billion.
The company wants to achieve stable performance in every quarter, targeting average cash collection of approximately THB 4.0-4.5 billion per quarter to mitigate seasonal factors. At the same time, BAM continues to recognize profit sharing from joint ventures (JV).
In 1Q26, profit recognized from JV with Ariya Asset Management Company Limited (ARI-AMC) (in collaboration with Government Savings Bank) was THB 64 million, and profit from Arun Asset Management Company Limited (ARUN AMC) (in collaboration with Kasikornbank Public Company Limited (SET: KBank)) was THB 15 million.
BAM aims to recognize total profit from these two entities of about THB 100 million this year and expects to finalize the establishment of a new JV AMC with additional financial institutions by the end of Q2 and commence operations in the second half of this year.
For asset management strategies, the company is focusing on the “Blue Ocean” market by signing MOUs for direct asset sales to government officials and public sector employees, targeting a customer base of over 3.1 million individuals.
The initiative will begin in Bangkok before expanding to the Royal Thai Armed Forces, Royal Thai Police, and Ministry of Public Health. The payment structure allows for payroll deductions until retirement, with the option to settle the final installment using retirement benefits.
Moreover, BAM is pushing forward the “Meet, Pay, End” project for non-performing loan (NPL) debtors, offering debt reductions of up to 30% or 0% installments for up to three years to help debtors recover. This project is expected to generate cash collections of approximately THB 800 million.
Regarding investments, BAM has set an asset purchase budget of THB 4-5 billion this year amidst a large supply of distressed debts in the market. The company is expediting reduction of its cost of funds through negotiations with financial institutions, bond issuance, and use of low-cost funding from some asset sellers, aiming to bring its cost of funds down to below 3% by 3Q26 or 4Q26.
At the same time, BAM is preparing to launch an e-Marketplace in July to facilitate non-performing asset (NPA) purchases and establish itself as an alternative investment channel for the public, as well as planning to expand into direct lending to the company’s own debtors in the future.
Although BAM is reducing reliance on large asset income, there are still plans to gradually sell two major projects in the portfolio: Sona and State Tower (department store segment). MOU signing with investors is in process, and combined net profits are expected to be no less than THB 800-1,000 million.
BAM maintains its average annual growth target at 5-7% and confirms its policy of paying high dividends twice per year to build investor confidence amid market volatility.
