The year of 2020 was literally marked as the 21st year of BAM’s operations in managing and solving the problems arising from non-performing assets in the country’s financial institution system. We continued our mission to operate the business with stability, strength and sustainability. It was such a year of success and pride after being listed in the Stock Exchange of Thailand on 16th December 2019 and began trading on the first day. This was clearly the significant step in fully turning into the publicly listed company where business opportunities and crowd funding could be established as well as spreading the reputation towards BAM to both local and international investors including other people. Furthermore, being granted the award of the Business Excellence in ‘Best Deal of the Year Awards’ in the event “SET Awards 2020” held by the Stock Exchange of Thailand and the Journal of Banking and Finance evidently reflected the pride and success with the listing of its shares into the Stock Exchange.
After all these years, BAM has been the country’s key mechanism for non-performing assets management (NPLs) so that the debtors could regain their secured assets i.e., residences, workplaces or business including managing the assets for sales (NPAs) to maintain its good condition and availability to be sold at a fair rate by promoting the project to facilitate low-income people, who are unable to access credit line from financial institutions, to own their residence with BAM’s installment purchase under lenient conditions. Moreover, we are committed to building a good relationship with customers, business partners, and financial institutions in order to create more remuneration to the shareholders in the long run. Even though the previous year was truly a challenging year for BAM’s operations, we had put a great effort to adapt and adjust our business strategies to deal with the COVID-19 pandemic situation to the fullest extent. Nevertheless, BAM also had some difficulties on its turnover due to less ability to repay of debtors as well as the lower purchasing powers of customers. BAM has consequently implemented the project so-called “Make it Through the COVID-19 Crisis with BAM” to support and alleviate the customers’ constraints in order to emphasize our strong commitment as an organization to stay beside our economy and society and help support the debtors from going into bad debts. Therefore, when the economy soon recovers, BAM’s turnover is believed to be aligned with the targeted goals once again. In the previous year, BAM has adopted the digital transformation into its business in order to improve the work procedure, database system and customer services to enhance the performance and elevate the organization into “Digital Enterprise” to be more well-prepared prior to the real digital age in the future.
In conjunction with the business operations, BAM was also strictly emphasized on good corporate governance and compliance, opposition towards all forms of fraud and corruption, security of customers’ confidentiality and information per the international standards, fair treatments to all stakeholders, suitable and safe environment for its employees, developmen of employees at all levels and good service standards to meet all customers’ demands. BAM has been conducting its business with high accountability to create more values among the organizations and the society simultaneously. Over the past years, BAM has continuously implemented several projects and events to provide comprehensive assistance in all possible aspects as a crucial step to develop social and environmental sustainability. BAM, therefore, has received various awards for its good corporate governance and social responsibility in 2020 as follows:
- The Poll Awards at 4-star scale meaning “Excellent” for Corporate Governance Report of Thai Listed Companies (CGR) 2020 from Thai Institute of Directors (IOD).
- Nominated as the listed company with an outstanding performance in environmental, social and good governance aspects (ESG) among the ESG Emerging List from Thaipat Institute.
- Best Strategic CSR and Best Senior Management IR Support from the votes of the institutional investors and analysts throughout Asia, America and Europe regions for the year 2020 held by the Alpha Southeast Asia, leading Financial Magazine in Southeast Asia.
On behalf of the Board of Directors, I would like to thank all shareholders, customers, counterparties and business partners for your trust and support towards BAM after all this time, allowing BAM to continuously succeed in conducting the business. I also would like to thank all of the management teams and employees for your dedication towards working until the main mission of the organization has reached its goal and being recognized among the investors. Last but not least, BAM will continue to operate its business on good corporate governance driving the organization under the “5 Good” principles which are: Good for the country, Good for the Society, Good for Customers or Debtors, Good for the Shareholders and Good for the Employees - to create the highest value for the organization. May all stakeholders believe that BAM shall continue working to its full potential in order to maintain good standards to be the best asset management company in the country and carry on its role as an organization that “Revives assets and drives Thailand’s economy with sustainability.”