2021 must be highlighted in the historical record for the prolonged COVID-19 pandemic, which has taken a heavy toll on the economy and society and forced people to adapt to the so-called ‘new normal’ -- that has already turned into the ‘now normal.’ Every one of us needs to change the way we live and work so as to overcome the emerging challenges and obstacles. BAM has likewise been unavoidably affected by this situation as we may not conduct some activities as usual, for example, the in-person meetings or contacts with our customers or the marketing events with mass gatherings, as regulated by the authorities. In order for BAM to be able to carry on under these constraints, we have adopted technology-aided approaches to performing our activities and servicing our customers. As such, despite the difficulties plaguing BAM throughout the past year, those obstacles and challenges have in turn pushed the Company into adjusting our business model and strategy and jointly tackling the problems so as to move the organization into achieving the established goals. Against this backcloth, BAM could satisfactorily deliver better-than-expected results for the year 2021.
In the wake of the COVID-19 pandemic, BAM was concerned about our affected customers with a lowered ability to repay and, thus, helped to resolve their plight by launching a number of relief measures, as appropriate, for our debt restructuring customers and customers purchasing our NPAs under an installment plan who had sought relaxation in the payment terms. This could reconfirm that BAM stands ready to fix the problems and assist our NPL customers to become performing again. The key to BAM’s success has been the “5 Good” principles employed to drive the organization: Good to the Country, Good to Society, Good to Customers, Good to Shareholders, and Good to Employees. Moreover, we remain committed to operating business under the principles of corporate governance and with the responsibility to society, the environment and all groups of stakeholders and the fight against corruption in order for BAM to gain confidence, trust and support from the concerned parties and be prepared to become a listed company continuously embracing the environmental, social and governance (ESG) principles into our business operation in the years ahead.
In 2021, BAM earned the “Very Good” recognition level in the CGR project organized by the Thai Institute of Directors and received the CAC certificate for the second year at Thailand 11th National Conference on Collective Action Against Corruption, titled “Unified Business Transparency against Corruption,” which could bear testimony to our commitment to business operation transparency and anti-corruption in all its forms. In addition, the Company has been recognized in the international arena, as proven by the following awards:
- The Best Investor Relations Thailand 2021 and the Best Distressed Asset Management Company Thailand 2021 from International Business Magazine Award 2021 hosted by International Business Magazine, a leading business and finance magazine based in Dubai, the United Arab Emirates, which singled out organizations whose performance met the awarding criteria; and
- The Best in House Investor Relations Team - Distressed Asset Management and the Best Distressed Asset Management Company from International Financial Awards organized by International Finance, a leading business and finance magazine of the UK’s International Finance Publications Limited. These awards are intended to honor individuals and organizations in the international financial sector who have demonstrated an outstanding performance in various fields deemed valuable to global financial business.
In our next move, BAM pledges to maintain our professional standards as the country’s best asset management company. We would like to express our gratitude to the shareholders, customers, business partners, and all concerned parties for your ongoing support and trust in the Board of Directors, the management and staff members. Please rest assured that BAM will continue our pivotal role in reviving the country’s distressed assets and driving a strong economic system and will give priority to sustainable corporate development with the balance of ESG dimensions in order to achieve solid growth and sustainable success in the years to come.