To explain its second quarter performance, JMT mentions that it managed to increase its assets base of non-performing loans in the last six months by 1.9 billion baht, which takes its debt portfolio to 189 billion baht – making it a leader in the country for non-performing debt portfolio. It managed to report a profit increase of 33% within six months this year when compared with the six months last year.
While this is all remarkable, with its debt portfolio likely to grow more over the next 12 months when the banks make more NPLs and sells to companies like JMT, the quality of earnings remains hard to assess.
