Bangkok--2 Sep--TMB Bank TMB Bank Public Company Limited (TMB) and its asset management company, Phayathai Asset Management Company Limited (PAMC), plan to divest part of their non-performing loan (NPLs) and non-performing asset (NPAs) portfolios amounted around Bt50 billion through a sealed-bid auction in the fourth quarter of this year, Mr. Boontuck Wungcharoen, TMB CEO said. According to Mr. Boontuck, the sale process will be officially launched early September while the Bank will open a dataroom for investor due diligence for six weeks starting from late September. The bid date is scheduled for late November this year. The successful bidders will be announced shortly thereafter. Baker Tilly Corporate Advisory Services (Thailand) has been engaged as TMB and PAMC transaction advisor. A total amount of NPLs to be disposed will be approximately Bt35 billion in term of outstanding principle balance (OPB). Within the amount, around 4,000 accounts with an OPB of about Bt20 billion belongs to TMB while nearly 11,000 accounts with a total OPB of roughly Bt15 billion will be from PAMC. The accounts comprise corporate, SME and consumer loans. The majority OPB are those of the corporate and large SME accounts, many of which remain operational. TMB and PAMC will also sell part of their NPA portfolios comprising around 1,000 assets of TMB with a value of approximately Bt12 billion and around 530 assets of PAMC with a value of approximately Bt3 billion. Both portfolios comprise various asset types including land, warehouse, factory, office building, golf driving range and hotel. These assets are located throughout Thailand, with a majority centered within the Bangkok metropolitan area and the central region. Many of the assets are still generating significant revenues. Mr. Boontuck added that the target NPAs include the assets which are attractive to most investors, such as commercial and residential properties in central Bangkok and major provinces. The offer includes office buildings, shopping malls and hotels. TMB and PAMC will split the portfolio for sales into different tranches to meet market requirements. This will include parceling loans and assets into marketable sizes that generate economies of scale. In addition, TMB also intends to dispose shares in PAMC, however the structure of the transaction is yet to be finalized. Additional information on the PAMC, PAMC shares and the proposed transaction structure will be further provided to any interested investors upon request. For more information please contact: Tel: +66 2 242 3255 +66 85 813 3020