or MAX AMC was sold. Also included were the collateral and/or assets transferred by the debtors as debt repayments. TS Asset Management Company Limited Characteristics of Product and Service TS AMC operates the distressed asset management business particularly for non-performing loans and foreclosed assets transferred from SCIB and TBANK. In order to restructure debts, TS AMC contacts debtors for debt restructuring, making them repay debts according to their abilities and turning non-performing loans into performing loans. Market and Competition TS AMC focuses in non-performing loan management and restoring the quality of debtors transferred from SCIB and TBANK in order to manage, sell or transfer. TS AMC manages and sells non-performing assets to the interested third party. To gain competitive advantage, TS AMC hired special consultants specifically for managing properties for sale. These consultants are responsible for collecting information about the properties for sale, determining their selling prices, managing high-value assets and examining their possibility, preparing business plan and presenting to target customers, as well as appointing selling agents or brokers with prior experience in selling these types of assets. Asset packaging is done to create more value-added. The coordination with the companies under the Group is promoted to increase sale channel which includes brokers or agents, finding and contacting private companies in organizing public auctions to dispose of the properties, and selling on the website of Thanachart Group, as well as finding and selecting media which helps promote sales and reach as many target groups as possible. However, TS AMC has no policy to purchase additional non-performing loans and non-performing assets. TS AMC places emphasis not only on managing the existing non-performing loans but also on restoring the quality of existing debtors to the best of its ability. Assets Used for Business Operations Key Fixed Assets Used for Business Operations Land, Buildings, Equipment and Rights-of-use Assets The following were land, buildings, equipment and rights-of-use assets which were owned by the Company and its subsidiaries and had not been pledged and/or mortgaged as collateral. Items As of 31 December 2021 2020 2019 Land (1) 32 32 32 Buildings and Buildings Improvement (1) 178 178 178 Furniture, Fixtures and Equipment 648 497 544 Right-of-use Assets 581 512 - Others 26 36 62 Total 1,465 1,255 816 Less Accumulated Depreciation (709) (577) (515) Land, Buildings, Equipment and Right-of-use - Net 756 678 301 (Unit: Million Baht) Note: (1) Revaluation basis 56-1 One Report / Annual Report 2021 Thanachart Capital Publ ic Company Limited 47
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