Jay Mart collection unit expanding business
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[April 26, 2006]

Jay Mart collection unit expanding business

(Bangkok Post (Thailand) (KRT) Via Thomson Dialog NewsEdge) Apr. 26--JMT, a debt-collection agency, plans to expand into distressed asset recovery and delivery services with a plan to list on the stock market within two years.

The affiliate of the mobile-phone distributor Jay Mart projects collections will grow 130 percent this year, more than four times its annual growth rate from 2001-04.

Piya Pong-acha, a director of JMT Network Services, said the company had five billion baht in accounts receivable for collection at the end of 2005, and expected the total to reach 13 billion by year-end.

Rapid growth would come from expansion from credit-card debt collections to housing loans and car leases.

JMT recently signed up the Government Savings Bank and Government Housing Bank as clients, two deals that Mr Piya said would increase total receivables to 11 billion baht by the end of the month.

"Later this year, we will begin managing non-performing loans, focused on credit-card and personal loans," he said.

JMT also plans to purchase loans more than three years past-due from Kasikornbank, Capital OK and GE Money for management. Its current portfolio from banks and consumer-finance companies totals 6.9 billion baht.

Mr Piya said the company expected to need around 500 million baht to finance expansion of its credit-card receivables business. The company also services 3.2 billion baht worth of receivables for the telecom sector and 1.3 billion for hire-purchase companies.



JMT charges collection fees of 20 percent to 50 percent of the amount collected, with an average of 25 percent. Collections this year are targeted at 600-700 million baht, up from 250 million in 2005.

Earlier this year, the company launched its Mr Speed document and merchandise delivery service, with average revenue now of 300,000 baht per month.

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