RS pleased with Chase Asia’s growth by leaps and bounds.
Financial institutions confident and willing to launch IPO in 2022
With the solid business status and constant growth of Chase Asia Limited after receiving the 920 Million Baht investment from RS Group Limited, representing 35% of its total shares, Chase Group also received funding from various leading financial institutions more than 2,600 Million Baht for the company to gain the edge over its competitors. This creates more opportunities and accelerates its growth by leaps and bounds. The company has set its targeted revenue for 2021 at 800 Million Baht and will be ready to be listed on the stock exchange within the Q4 of 2022.
Mr. Surachai Chetchotisak, Chief Executive Officer of RS Public Company Limited, said that “Chase Group is one of the leading players in NPL management industry. With its strength and high growth potential, along with the support from RS and financial institutions, the Group is more than ready to fully position itself at the top of the industry. Chase Group’s operations have shown promising growth in the B2B or B2C markets as a result of the recent COVID-19 situation. For the B2B market, opportunities can be observed from NPLs under various financial institutions as these regulators are rolling more policies regarding non-performing assets. It is therefore the chance for Chase Group to bid on these assets and manage them in the future. Additionally, there is increasing demand for debt recovery services among financial institutions, resulting in the growth of debt recovery sector. As for the B2C market, consumers are looking for financing sources to increase liquidity and assist them during difficult financial situations, including household debt-related problems. Chase Group has generated more than 400 Million Baht of income, higher than the expected figures at the time when RS Group made its investment plan. It is expected that Chase Group will generate a record revenue of 800 Million Baht by the end of 2021. The Group is also planning to synergize the operation of the 2 companies to explore new business opportunities”.
Mr. Pracha Chaisuwan, Director of Chase Asia Group, said, “2021 is the year for solidifying our foundation to support long-term growth. The Group has witnessed developments and solid growth in all domains. With the determination of Chase Group to operate the business of more than just an ordinary debt recovery company, the Group also acts as a debt consultant; offering advice and guidelines for debt management with the aim to allow debtors to regain access to the financial assistance of financial institutions. As a result, Chase Group’s customer base is still expanding in all aspects, enhancing financial readiness with aids from our partners and reliable financial institutions. We are confident that the business will continue to grow, both from the acquisition of non-performing assets and from the debt consulting service that helps customers with growing debts. In terms of debt recovery service, the business has always been a good source of income for the Group. With the recent investment of 920 Million Baht from the financially robust RS Group, the company has received conditional supports from various financial institutions, strengthening Chase Group to compete at its full potential and reflecting huge growth opportunities. The Group currently manages more than 23,000 Million Baht of debts, with a more than 25% increase from the end of 2020. Moreover, after the appointment of Kasikorn Securities Public Company Limited as its financial advisor since Q1 of this year, Chase Asia has been preparing to become listed on the Stock Exchange of Thailand. All procedures are going according to the plan and we are currently preparing the required documents before submitting them to the SEC Office, which is expected to be completed within the Q2 of 2022. The company will be listed on the SET within the Q4 of 2022, according to the schedule”.
For more information and updates about RS Group, read more on www.rs.co.th and https://www.facebook.com/RSGROUPOFFICIAL
