ACC Public Company Limited has launched a new business in debt management, successfully winning a bid for a portfolio of automotive debt valued at over 200 million baht. The company is also set to participate in several other auctions for both automotive and real estate debt portfolios, anticipating revenue growth and a strong turnaround throughout the year.

Ms. Suphin Siripok, Vice Chairman of Advance Connection Corporation Public Company Limited (ACC), revealed that ACC has entered the business of purchasing or transferring low-quality assets for management through its subsidiary, ACC Capital Co., Ltd. This sector is experiencing significant growth, and ACC boasts a management team with extensive expertise and experience in debt management, alongside a strong financial position and readily available cash for immediate investment. The company has prepared a comprehensive plan to enter this business and is confident in generating satisfactory returns. In 2022, financial institutions are expected to increase their auctions of bad debts as debtors under relief measures begin to complete their restructuring and return to regular payment schedules, leading to some debtors falling into NPL status. Consequently, ACC Capital anticipates a continuous increase in debt auctions.

Recently, ACC, through ACC Capital, won the auction to purchase an automotive debt portfolio valued at over 200 million baht, marking the first batch of many. In 2022, the company expects to acquire approximately 1.2 billion baht in bad debt, divided into about 400 million baht from automotive portfolios, around 500 million baht from credit cards and P-Loans, and approximately 200-300 million baht from real estate portfolios for management within the year. It is projected that revenue from the debt management business will grow by more than 100%.

Mr. Manat Pharamalai, Executive Director of the Asset Management and Digital Technology Business Group at ACC Capital, a subsidiary of Advance Connection Corporation Public Company Limited (ACC), stated, "Our group has expertise in debt management, providing loans with or without collateral, purchasing low-quality assets for management, and offering consulting services for asset evaluation. We also provide comprehensive investment services, matching and selecting, with a minimum return of 15% per year on low-risk investments.

Currently, the company has over 200 million baht in secured debt in its portfolio and aims to bid for no less than 1.5 to 2 billion baht in debt annually over the next two years. Funding sources will come from existing shareholders and financial institutions. The company will focus on bidding for high-quality debt portfolios and is currently negotiating with several financial institutions to acquire more debt for management as per its plans. Based on recent investments, ACC has successfully won the auction for an automotive debt portfolio valued at over 200 million baht, marking the first batch with plans to bid on several projects, including automotive and real estate portfolios, which are expected to enhance the business potential of the ACC Group for sustainable growth," Mr. Manat concluded.

The Advance Connection Corporation Public Company Limited or ACC operates under the policy of "Good Life with ACC," engaging in various businesses including renewable energy, infrastructure contracting for public utilities, electrical engineering, civil engineering, cannabis-related businesses, and financial services.