Following various news report on Bangkok Commercial Asset Management Public Company Limited (BAM) expecting to record 6.5 billion baht of profit, the company has made further clarification as follows;
As it appeared in the media on March 11, 2021, that BAM expects this year’s profit to hit Baht 6.5 billion. Enhancing restructured debtors account and possibility of extending scope of business. The company would like to clarify the facts as follow:
In 2020, the company had 13,134 million baht of cash collection and 1,840 million baht of Net profit, which was lower than the company had expected in early 2020. This was mainly from the impact of Covid-19 pandemic that led to slower performance during 1st and 2nd quarter. However, the company had taken proactive approaches which resulted in the stronger performance in 3rd and 4th quarter accordingly.
BAM has disclosed target cash collection in the next 5 years based on its short-term and long-term strategies, including the possibility of exploring business opportunities and extending scope of business in the future. However, the disclosed target cash collection may not be able to imply the company’s net profit.
The company affirmed that its management was on ethics and good governance, while having no intention to mislead any of expected financial performances.