Bangkok: BAM expands its business cooperation by joining hands with Prime Zone, an asset management company, to strengthen its joint business in both NPL and NPA areas, increasing revenue opportunities and extending the success of its business partnerships. Bangkok Commercial Asset Management Public Company Limited (BAM) has signed a Memorandum of Understanding (MOU) with Prime Zone Asset Management Company Limited (Prime Zone or PZ) to collaborate on the management of non-performing loans (NPLs) and non-performing assets (NPAs) with a focus on maximizing mutual business benefits.
According to Thai News Agency, Dr. Rak Vorakitpokathorn, Chief Executive Officer of BAM, stated that under this collaboration, BAM is pursuing its Partnership strategy. This strategy aims at expanding its business base and generating increased revenue through collaboration with potential business partners. The goal is to enhance efficiency in the comprehensive management of NPLs and NPAs, representing a significant step in strengthening the business by combining the professionalism and expertise of both organizations to create stable growth.
This collaboration with Prime Zone is considered an extension of BAM’s asset management approach. It aims to enhance the efficiency of managing NPLs and NPAs to enable them to be revitalized and generate tangible income. Furthermore, it aims to increase access to housing for the general public by repurposing abandoned properties through development and renovation, benefiting both society and the economy.
Ms. Soraya Sathirakoset, Acting CEO and CFO of Rabbit Holdings Public Company Limited and Director of Prime Zone, stated that the collaboration with BAM is a joint effort to set new standards for the Asset Management Company ecosystem. The goal is to create a quality and transparent secondhand home market, driving the Thai economy and supporting the public sector. Signing the MOU with BAM reaffirms Prime Zone’s commitment to social responsibility and contributing to the resolution of non-performing loans.
Mr. Thanawat Rungsithimongkol, CEO of Prime Zone, stated that Prime Zone plays a key role in creating added value for debtors’ assets. The focus is on re-entering these assets into the market in a ready-to-use condition that meets buyers’ needs. Prime Zone assists in asset sales, giving debtors the opportunity to quickly close their debt obligations and re-establish a stable life.
The collaboration with BAM targets buyers who prioritize value and properties in quality locations at accessible prices. Buyers will have the opportunity to inspect the property’s condition, environment, and management before making a purchase decision. Prime Zone is committed to renovating and improving the property to meet customer standards, ensuring buyer confidence.
Prime Zone also launched the “HOME FOR HERO” project, offering access to homes for those with no credit history. Prime Zone guarantees the quality of renovated properties, ensuring buyers can move into homes with peace of mind. This is complemented by a sales team with an understanding of the resale home market, including loan consultations to facilitate buyers.