Page 32 - BAM ONE REPORT 2565 (ENGLISH VERSION)

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- Agility in expanding the business and customer base Later, on 04 February 2003, the receiver had an order
- Enhancing effectiveness and rapidity in work operation No. 1338/2546 that Bangkok Commerce Public Company
- Having correct and easily accessible data for driving Limited (formerly BBCP) shall transfer 546,999,993 BAM shares,
the business with par value of 25 Baht, in total amount of 13,674,999,825
- Skill development for employees to suit the digital age Baht to the Financial Institutions Development Fund (FIDF).
- Modern image of the company with security, safety As a result, BAM was transformed to be a state enterprise
Bangkok Commercial Asset Management Public Co., Ltd.
and sustainability in the long run. with FIDF directly holding shares for 99.99%. On 20 December
2005, the cabinet had a resolution for Asset Management
Background, change and significant development Corporation (AMC) to transfer major assets including
Background investment in the debtors for non-performing assets and
Bangkok Commercial Asset Management Co., Ltd investment in the securities to BAM. Additionally, BAM was
(“Company” or “BAM”) was established according to the transferred officers of AMC as they were voluntary. This
financial institutions development plan of the Ministry of amalgamation strengthened the organization due to
Finance according to the resolution of the cabinet on 14 incorporation of potentials of employees and work systems
August 1998, to manage non-performing loans of Bangkok of both organizations.
Bank of Commerce Public Company Limited (BBC).
On 25 December 2015, the company registered
BAM was registered as a limited company according transformation as a public company limited under the name
to the Civil and Commercial Code on 07 January 1999, with of Bangkok Commercial Asset Management Public Company
initial registered capital of 54,700 million Baht (547 million limited, with the registered office located at No. 99, Surasak
shares with par value of 100 Baht), with Bangkok Commerce Road, Silom Sub-district, Bangrak District, Bangkok. It operates
Public Company Limited (formerly BBC) holding shares for the business of purchasing or accepting transfer of non-
99.99%. Later, on 28 January 1999, BAM was permitted by performing loans (NPLs), and non-performing assets (NPAs)
the Bank of Thailand to operate the business as an asset for management, distribution or transfer, with the Financial
management company according to the Royal Decree on Institutions Development Fund (FIDF) holding shares for 99.99%
Asset Management B.E. 2541 (1998).
However, the extraordinary meeting No. 1/2019, on
On 08 November 1999, BAM was registered to reduce 02 August 2019 had a resolution to approve allocation of
shares’ par value from 100 Baht to 25 Baht/ share to optimize the capital-increased ordinary shares which have been
the financial structure, with remaining registered capital of registered for approval of the registered capital increase in
13,675 million Baht (547 million shares, with par value of 25 2015, for not exceeding 510.0 million shares, with par value
st
baht), according to the unanimous resolution of the 1 annual of 5.0 Baht. The Company allocated such shares to (A) initial
shareholder’s meeting on 07 July 1999. The amount from public offering for 280.0 million shares, and (B) support
capital decrease was gradually refunded to the shareholders over-allotment for 230.0 million shares.
completely from 31 August 2006.
Meanwhile, the company arranges the initial public
Apart from missions in managing non-performing offering (IPO) and registers changing paid capital of the
loans of BBC, on 29 March 2002, BAM registered increasing Company with the Department of Business Development.
scope of non-performing loan management of other Therefore, the total paid capital is 15,075 million Baht. The
financial institutions, and was an agent to collect and repay FIDF decreases the proportion of shareholding from 99.99%
obligations in accordance with the Royal Decree on Thai to 41.9%. Therefore, the company is fully a private company.
Asset Management Company B.E.2544 (2001), as well as Nevertheless, the company’s shares were traded under the
taking care of, managing and storing properties, asset security abbreviation as “BAM” for the first time on 16
transfer documents or other related documents. December 2019.