‘Chayo Group’ establishes a joint venture company ‘Chayo JV’, aims to raise 1,500-2,000 million baht to buy bad debt to manage more. Support the year ’64 income Grow more than 25% from the original Prepare only 1,200 million baht to buy bad debt into the port 10,000 million baht
Mr. Suksan Yasasin, Chief Executive Officer of Chayo Group Public Company Limited or CHAYO Revealed the operation plan for the year 2021 that the company is preparing to establish a joint venture company (JV) with partners to be a channel to raise funds to buy debts to manage in addition to the original CHAYO has a restriction, unable to buy debts from financial institutions that are creditors of the company. However, such joint venture company is the same debt management company as CHAYO.
“CHAYO will be the main shareholder of more than 55%, which is not yet a conflict of interest with the creditor bank. After the establishment, it is expected to raise funds in the amount of 1,500-2,000 million baht to purchase debt to manage. It was originally expected that in 2021 there will be approximately 1,200 million baht in funds to buy 10,000 million baht of debt to manage, “said Mr. Suksan.
In addition, the acquisition of additional capital will help the Company. Able to expand the scope of buying more debt By preparing to move to buy debt of small and medium business (SME) large business group Including the debt from banks from the original CHAYO will mainly buy the debt of retail. After the opening of the subsidiary company It will be a factor that will drive the performance to exceed the target by 25% in 2021.
However, on October 14, 2020, CHAYO notified the SET. The establishment of a new subsidiary, Chayo JV Company Limited (CHAYO JV), is currently in the process of negotiating with 1-2 partners and expects to see clarity within the first quarter of 2021.
Mr. Suksan Said that on December 25, 2020, CHAYO moved to be listed on the Stock Exchange of Thailand (SET) in the financial business group. From the original company Listed on the Market for Alternative Investment (mai), it is expected that this move to the SET will open a way for institutional investors or funds to invest in the Company in the next phase.
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