RS acquires 35pct stake in Chase Asia

21-Jan-2021 Intellasia | BangkokPost | 6:02 AM Print This Post

RS Group is expanding its business to asset management and personal loans after acquiring a 35 percent share of Chase Asia worth 920 million baht.

Surachai Chetchotisak, chief executive of RS Group, said the transaction was to be made by RSX, a wholly-owned subsidiary of RS Group, aimed at increasing the group’s business value in terms of competitiveness and long-term sustainability.

He said the acquisition is in line with the growth in non-performing loans. The deal is expected to strengthen RS Group’s structure, given the ongoing economic trend.

Chase Asia’s services consist of three core businesses: all-inclusive debt management run by Chase Asia, asset management, acquisition, transfer, NPL management under its subsidiary (CF Asia Asset Management and Resolution Way) and personal loans overseen by Resolution Way and Courts Megastore.

Surachai said in the past year, Chase Asia is estimated to have earned total revenue of 600-700 million baht and net profit of 150-200 million baht.

“The partnership guarantees strong synergy from the mutual exploitation of resources and strength of each company, including sales channels, data management systems and the RS Group ecosystem, as well as expertise in the industry and Chase Asia’s image in the industry,” he said.

On Monday RS reported to The Stock Exchange of Thailand (SET) a plan to borrow approximately 1 billion baht from Kasikornbank to ink the deal with Chase Asia.

Surachai said this deal enables RS Group to create income from a new business, sharing resources and strength across the entertainment, media, and commerce sectors more effectively.

Chase Asia may grow to be a leader in the industry and become a listed company within three years, he said.


Category: Thailand

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