Mr. Adisak Sukumvitaya, Chief Executive Officer of Jay Mart Public Company Limited (JMART), through “Kaohoon Jor Talad” Program and FM 102 MHz on February 1, 2021, stated that the company has completed the signing ceremony with KB Kookmin Card Co., Ltd. in a joint investment in the company’s subsidiary, J Fintech Company Limited (J Fintech), in a total investment value of 3,450 million baht.
“KB Kookmin Card injected 650 million baht to subscribe J Fintech’s capital increase, while paying a loan worth 2,800 million baht that J Fintech borrow JMART, combining in a total earning of 3,450 million baht,” said the CEO Mr. Sukumvitaya in the program.
“Meanwhile, KB Kookmin Card comes with a financial-related technology, which is the most essential factors together with the investment value as the distribution could be done easily with the lower cost through JMART’s channels such as JMART Shop, SINGER and JMT as well as other businesses in the group that cover countrywide,” he added.
Moreover, KB Kookmin Card will apply for the nano finance business, which will complete all business licenses related to financial business for the group. Mr. Sukumvitaya emphasized his confidence that the technology acquired from KB Kookmin Card will support the company’s ability to reach customers at a faster pace with more efficiency.
JMART hoped to establish a variety of business types from the cooperation with KB Kookmin Card through the availability of JMART and its subsidiaries. Meanwhile, the company is expecting to record an all-time high in operating results for the next five years, buoyed by lower cost, higher efficiency, and high-end technology.
The company projected to list J Fintech into the Thai stock market within the next two years and expected to move up to Thailand’s top five in loan and credit card businesses.