Bangkok: In response to the severe flooding in Southern Thailand, Sukhumvit Asset Management Co., Ltd. (SAM) has introduced measures to support affected citizens and clients by offering a three-month debt repayment suspension. The initiative targets residents and businesses in five heavily impacted provinces: Songkhla, Phatthalung, Pattani, Satun, and Yala.
According to Thai News Agency, SAM's Managing Director, Ms. Nartnaree Ratthapat, announced the relief measures in light of the escalating flood crisis, notably in Hat Yai District. As a government entity committed to sustainable recovery, SAM is expediting assistance to ease the burden on clients involved in debt restructuring. The relief efforts align with the Department of Disaster Prevention and Mitigation's announcement.
The urgent measures enable clients who are overdue by no more than 90 days under the debt restructuring program to defer principal and interest payments for three months. Subsequently, they can repay part of their debt over a six-month period, starting from their participation date in the program. The accrued interest during this period, along with the interest from the last payment date within 90 days, will be deferred to the final installment of the debt restructuring contract. SAM clients can register for the program until January 24, 2026, to benefit from these relief efforts.
Ms. Nartnaree emphasized SAM's dedication to supporting the public and business sector in overcoming the challenges posed by the floods. The initiative is a testament to SAM's commitment to providing equitable and prompt assistance, in line with the Social Asset Management Company (Social AMC) policy and SAM's vision as a state-owned asset management company.
For those with non-performing loans (NPLs) overdue by more than 120 days, SAM offers support through the 'Debt Clinic by SAM' project. This initiative provides a concessional interest rate of 3-5 percent per year with a repayment period of up to 10 years. Three restructuring options are available, depending on the repayment period, with varying interest rates. Applicants must have an income, be under 70 years old, and have total debts not exceeding 2 million baht.
Clients can access further information through SAM's Call Center, Facebook pages, or by visiting the Debt Clinic by SAM office in Bangkok. The office is open daily, providing multiple channels for customers to apply for debt restructuring assistance.