KTB Will Turn Nonperforming Loan into Profits, Booking ฿10bln. Soon!
The 10 billion baht of debt that AQ owes KTB will be paid once the estate has been sold.
21 ก.ย. 2561

The 10 billion baht of debt that Krung Thai Bank Public Company Limited (KTB) had been categorized as a nonperforming loan (NPL) would soon turned into new profits after the Criminal Court had ruled over the 4,300 rai of AQ Estate Public Company Limited (AQ) estate’s case to be sold off in a public auction.
The selloff of AQ’s estate is actually for KTB to restore its 10,004 million baht that has been lent to AQ. The Legal Execution Department will set the auction over 4 sessions; with the 1st being on the 17th October, 2018, the 2nd on the 7th November, 2018, the 3rd on the 28th November 2018, and the 4th on the 19th December, 2019. There are many investors reportedly interested in participating in the auction.
 
The case that led to KTB’s 10 billion baht NPL was the approval of 9,900 million baht loan to Golden Technology Industrial Park Company Limited, a subsidiary of Kritsada Mahanakorn Public Company Limited that changed to AQ afterward. AQ used this amount borrowed from KTB to purchase a 4,300 rai of estate close to Suvarnabhumi Airport. Mr. Wirat Aiewaksorn, AQ’s CEO, once mentioned that this land was located in the eastern economic corridor (EEC), which considered a very good location.
The huge amount of loan had been categorized as NPL, but did not set a reserved fund as AQ had paid a portion of 1.6 billion baht. If the 4,300 rai of AQ’s estate can be sold early, KTB will be able to book this amount as its additional earning in the financial statement.
Now, KTB will just have to wait for the day that the estate has been sold, thus, AQ will pay its debt.
 