Bangkok: BAM has partnered with MCOT to offer ready-to-move-in properties, including detached houses, townhouses, condominiums, and vacant land, to employees, offering a "free transfer" promotion of up to 900,000 baht, and expanding cooperation to cover all state enterprises. Bangkok Commercial Asset Management Public Company Limited (BAM) has signed a Memorandum of Understanding (MOU) with MCOT Public Company Limited (MCOT) to drive NPL and NPA management strategies through a Business Partnership strategy to create business alliances to expand asset distribution channels and further business growth.
According to Thai News Agency, Dr. Rak Vorakitpokathorn, Chief Executive Officer of Bangkok Commercial Asset Management Public Company Limited (BAM), stated that under this collaboration, BAM is ready to pursue its Business Partnership strategy as a key strategy aimed at expanding its business and generating increased revenue through collaboration with state enterprise clients. This strategy aims to help BAM continuously generate revenue from its assets and reduce the holding period of assets awaiting sale.
The collaboration with MCOT will help create business opportunities, expand our customer base, and expand sales channels and sales from property sales, including vacant land, single-family homes, townhouses, and condominiums. This will target a wider customer base. We will select properties that truly meet our customers' needs, particularly those located near MCOT employees' workplaces, to enhance convenience and quality of life. MCOT personnel will also receive promotions, including waived transfer fees for all types of real estate purchases nationwide, up to 900,000 baht per property, and SB FURNITURE gift vouchers.
BAM currently has over 25,000 NPAs, with an appraised value of over 74 billion baht. The NPAs comprise 33% of the portfolio, followed by townhouses (19%), condominiums (19%), and vacant land (17%). This agreement marks a significant step in strengthening the business potential of the two organizations through the collaboration. In the future, BAM plans to expand its cooperation to other state enterprises to cover all areas, ensuring that foreclosed assets not only regain value but also become assets that generate sustainable opportunities and returns for all parties.
Mr. Phatiyuth Jaisawang, Acting President of MCOT Public Company Limited, stated that state enterprises are a key mechanism in driving government policies. Therefore, the collaboration between Bangkok Commercial Asset Management Public Company Limited and MCOT Public Company Limited is a good example of cooperation between state enterprises, leveraging the strong potential of each organization to further develop and enhance cooperation, fostering knowledge exchange and maximizing benefits in line with the organization's mission. MCOT Public Company Limited is committed to presenting innovative news and knowledge to society, adhering to its intention to utilize its potential.
As a mass media company driving economic, social, and environmental development, in line with the concept of "Good Media, Good Society," this collaboration with BAM provides MCOT personnel with access to carefully selected quality assets from BAM, including vacant land, detached houses, townhouses, and condominiums, tailored to their needs for a better quality of life. MCOT media will also be used to communicate and publicize to the public, providing them with access to quality asset information and BAM's role as a key organization in asset revitalization to drive sustainable growth for the Thai economy and society.