BAM Bangkok Commercial Asset Management Plc.

ANALYST

BRIEFING

Q1/2021

14 MAY 2021

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Disclaimer

0 Q1 Overview

1 Market, Supply, Investment

2 Q1 Total Collection

3 Financial Updates

4 NPLs Breakdown

5 NPAs Breakdown

6 Q2 Collection Outlook

7 2021 Outlook

Q1 OverviewFinancial performance & updates

- Total collection of 2,966 MB: Strong NPAs collection at 1,202 MB, 129% of the quarterly target of

934 MB, with NPLs collection at 1,764 MB, under the quarterly target

- 247 MB Net Profit for Q1/2021, -63% YoY (mainly due to significant drop on gain on loans of

purchased of receivables)

Markets & Supply & Investment

- ‘Wait and See’ situation from both seller and buyer: Related policies from BOT regarding the

COVID-19 are being followed closely by the industry

- BAM NPLs acquisition: 333 MB (cost) – 56% SME loans and 44% Housing loans

Outlook 2021

- NPLs: LED closure in some locations due to another wave of COVID-19 spread in Thailand

- NPAs: e-Auction sales and continuous expansion on online channel

- The success of Asset Warehousing program

- On-going initiatives: BAM-D (Digital Enterprise), Holding Company, and Joint Venture

1

Market, Supply, Investment

NPLs acquisition• “Wait and See” NPLs from

commercial banks out for

auction (principal balance)

~Q1/21 6,505 MB*

~Q1/20 15,086 MB

• BAM’s Acquisition:

“More selective acquisition”

~Q1/21 561 MB (at 333 MB

cost)

~Q1/20 9,915 (at 4,911 MB

cost)

• Loan amount of ~5,900 MB

under due diligence

process

NPLs Supply & BAM’s NPLs Acquisition

3,340 MB

561 MB

333 MB

NPLs acquisition by Financial Institutions

BAM acquired this quarter: 561 MB of Principal balance at 333 MB cost

NPLs Supply post cancellation (Principal balance)

2*3,165 MB of which was cancelled

Unit: Million BahtTotal Collection

1,764 MB NPLs

Collection, missed

the 2,223 MB

Quarterly target

(-21%)

1,202 MB NPAs Collection,

exceeded the 934 MB

Quarterly target (+29%)

*Note: Total collection record of 2021 includes Cash collected from the Legal Execution Department during the period, in which it is

recorded as a third-party purchaser won the auction of our debtors’ collateral

94% of the quarterly target

*

- Slightly under the quarterly

target, mainly due to

significant decrease of an

NPLs collection item

- Favorable NPAs collection

following the NPAs

strategies including Pricing

strategy, Installment sales,

NPAs renovation, and Online

channels

3

Maintaining the performance with diversified portfolio

Unit: MB Q1/20 Q4/20 Q1/21 %YoY %QoQ

Operating Income

Interest income - Loans purchased of receivables

Part of amount received 202 295 310 53% 5%

Accrued income from auction sale 451 303 345 (24%) 14%

Part of accrued 1,238 1,214 1,178 (5%) (3%)

Gain on loans purchased of receivable 1,163 703 270 (77%) (62%)

Total Interest income - loans purchased of receivables 3,054 2,515 2,103 (31%) (16%)

Gain on sale of properties for sale 226 642 597 164% (7%)

Gain on installment sale 10 357 36 260% (90%)

Other interest income 24 28 33 38% 18%

Other operating income 8 36 11 38% (69%)

Total operating income 3,322 3,578 2,780 (16%) (22%)

Total operating expenses 681 702 599 (12%) (15%)

Interest expenses 581 637 615 6% (3%)

Profits from operation before income tax expenses 2,060 2,239 1,566 (24%) (30%)

ECL - Part of accrued 1,238 1,213 1,178 (5%) (3%)

Additional ECL 60 49 75 25% 53%

Total Expected Credit Losses 1,298 1,262 1,253 (3%) (1%)

Profits before income tax 762 977 312 (59%) (68%)

Income tax 414 (109) 144 (65%) (232%)

Deferred Tax (317) 378 (79) (75%) (121%)

Total Income Tax 97 269 65 (33%) (76%)

Net Profit 665 708 247 (63%) (65%)

NPLs- Better performance for Loans

purchased of receivables

- Significant decrease on Gain

on loans purchased of

receivable

NPAs- Strong NPAs sales overall

- Better installment sales YoY

following the NPAs pricing

strategy,

Expenses & Other- Lower expense overall

- 20.9% Effective Tax Rate

*restated financial information for Q1/20

*the summation of some figures may not add up due to rounding

Financial Updates

*

4

Unit: Million Baht

NPLs Collection -16% YoY and – 31% QoQNPLs Breakdown

-21% quarterly target

Significant decrease in Gain in loans purchased of receivable due to accounting record of cost and on-going negotiations with mid to high-value debtors

Better loans purchased of receivables

QoQ and YoY

More efficient collection: Better accrued

income turnover and ECL

Slow performance on Gain on loans

purchased of receivable, impacted the

bottom line significantly

414 more TDR, 12% progress towards

3,500 accounts annual target

5

Missed the quarterly collection target

Unit: Million Baht

NPAs Collection QoQ, YoY, Q1/21 Target

Maintaining sales price at 91% of

appraised value (587 units sold in Q1)

5 physical booths cancelled on 1H,

expecting to resume on Q3

Planned virtual booths, e-auction of

704 MB (appraised value) in Q2/21

Progressing towards key strategies:

250 registered retail investors

2,000+ units approved for pricing strategy

309 MB of NPAs renovated

2 current sales partners: 1 + 5 upcoming partners

+6% followers/sub scribers on social media channels*

Increasing interest from online channel

+29% quarterly target

NPAs Breakdown

Q1/21 Sales distribution by property type

Unit: Website visits

*example of latest social media campaigns, partnering with house & living lifestyle social media page “Yark Me Baan Woii (I need these houses!)”: https://facebook.com/yarkmebaanwoii/posts/295351265471360/?_rdc=1&_rdr 6

Favorable performance

1,7

64 2

,430

2,3

43

3,4

98

1,2

02 1

,773

1,8

97 2

,545

Q1 Q2 Q3 Q4

NPLs

NPAs

2021 Seasonal Target

2,966

4,203 4,240

6,043

Q2 Collection Outlook

Potential NPAs backlog

24 NPAs at 10-100 MB value

2 NPAs at 100 MB+ value

(including 450 MB

Installment)

Potential NPLs backlog

15 Debtors at 10-100 MB value

4 Debtors at 100 MB+ value

Other potential

▪ NPLs special “one-time” settlement of 851 MB approved in Q1/21

7

Actual Q1/21

The annual target remains the same, with potential backlogs

• Challenges from prolonged COVID-19 and LED’s public auction closure

• Negotiations with significant debtors, grow TDR debtors, expedition of collateral foreclosure

• Target NPLs special “one-time” settlement of 4,748 MB

NPLs NPAs Internal Operations

Projects & New Opportunities & Challenges throughout the year

Q1/21 Q2/21 Q3/21 Q4/21 Y2022

First-stage studies

- Holding Company

- Joint Venture

BAM-D Phase 1

- PDPA and Cyber Security

BAM-D Phase 1

- Process Digitalization

- Data Management and Big Data Analytics

- Impact from LED closure

- NPL Supply impact from related policies

• Continue to grow on performing

channels• Company’s Website

• Online page “Yark me baan woii (I

need these houses!)”

• Shopee

• Retail investors

• Additional sales channels• E-Auction – planned partnership with

established e-auction facilitator

company

• BAM-D: Digital Enterprise Phase 1 • PDPA & Cyber Security

• Process Digitalization

• Data Mgmt & Big Data Analytics

• Full-Stream Cost Optimization plan to

be in place

• Learning & Rewarding schemes for

employees

Asset Management Industry: “Wait and See”

Notable factors: COVID-19 situation. Supply after debt moratorium program. Impact from Asset Warehousing. 2021 Outlook

8

THANK YOU

Appendix