07 Apr 2020
BAM cares for Thai people and joins in fighting the COVID-19 crisis.

Amid the COVID-19 pandemic which has become more widespread and inevitably threatened the public’s living conditions and the country’s overall economy, Bangkok Commercial Asset Management Plc. (BAM) is aware of social problems and stands ready to help the country overcome this crisis. On April 7, 2020, BAM allowed Phetchabun Province to use and modify Mueang Phet Hospital building, which is the Company’s NPA and would otherwise be put up for auction in this April 2020, as a cohort ward to provide lifesaving assistance for patients stricken by the COVID-19 spread. Apart from allowing the use of such property for free, BAM donated Baht 500,000 to the province to purchase portable ventilators and other relevant medical equipment. Mr. Suebsak Iamwicharn, Phetchabun Governor, received the donation.

To further support the fight against the said pandemic, BAM also donated Baht 2,500,000 to five public hospitals each of Baht 500,000, namely Siriraj Hospital, King Chulalongkorn Memorial Hospital, Rajavithi Hospital, Ramathibodi Hospital and Bamrat Naradun Hositpal, to purchase portable ventilators, medical equipment and processes for treatment of COVID-19 patients.

In addition, BAM has recently issued relief measures to assist its debt restructuring customers and customers purchasing NPAs with installment payments who have been hit by the COVID-19 situation such that they have become less able or unable to repay their debts for the time being. They may choose one of the three measures which most fits with their debt servicing capability, comprising 1) suspension of principal and interest payments for three months; 2) suspension of principal and interest payments for three months and, after that, suspension of principal repayments for another three months (payment of interest only); and 3) suspension of principal repayments (payment of interest only) until the December 2020 installment. Customers eligible for such debt moratorium programs must be those affected by the COVID-19 pandemic, including customers undergoing debt restructuring with BAM, both retail and SME customers, and customers purchasing NPAs with installment payments to BAM.

At the same time, to ensure the safety of all employees, customers, business partners and allies from all sectors, BAM has strictly adopted the measures set out by Department of Disease Control, Ministry of Public Health, by setting up a screening point at the Head Office and all regional offices, installing an automatic sanitizing dispenser together with alcohol-based hand gel at the entrance to every floor of the Head Office, spraying disinfectant within the Head Office, cleaning lifts every half hour along with touch-point cleaning of all common areas, distributing hygienic face masks, encouraging employees to work from home, and others.

BAM would like to send encouragement to all public and private organizations, particularly the medical staff and Thai people, in their concerted effort to weather this crisis by maintaining social distancing and adhering to the Stay Home to Stop the Virus for the Sake of the Nation campaign, in the hope that the situation will ease very soon.