TKS Group unveils new corporate logo
Indunil HEWAGE
Malaysian conglomerate TKS Group of companies recently unveiled its
new corporate logo and structure in a bid to put its Sri Lanka based
businesses on a strong footing.
TKS group which owns Asian Finance Ltd ,TKS Finance Ltd, and TKS
Securities Pte Ltd in Sri Lanka expects to bring these three companies
under one banner with the launch of corporate logo and structure thereby
serving better its growing customer base.
TKS group of Companies deputy Chairman abdul azim Bin
Mohdzabidi, directors Pau Chiong ung and lee Chong Pa at the
press conference. Picture by-nissanka wijeratne |
“In line with the unveiling of new corporate structure and logo ,
Asian Finance Ltd, TKS Finance Ltd, in collaboration with TKS Securities
Pte Ltd launched the express Share Credit Product allowing customers to
draw cash against the pledge of their shares to meet their urgent
financial requirements,” TKS Group of Companies, Deputy Chairman Abdul
Azim Bin Mohdzabidi said.
The establishment of new corporate structure comes with the
establishment of TKS Capital.
It will provide support services for the three companies and will
relieve a lot mundane work of Finance Ltd , TKS Finance Ltd, and TKS
Securities Pte Ltd.
The current capitalization of the company stands at Rs 900 million
and additional capital will be further injected to capitalize the
company’s ongoing expansion programme. As a part of Asian Finance’s exit
strategy in the real estate business, it is in the process of unlocking
the value of its Head Office by disposing and subsequently leasing back
the property thereby generating the necessary capital for the Asian
Finance.
The process is expected to be completed in the next few months. By
2009 the total Fixed Deposit base of Asian Finance amounted to Rs 3
billion and currently it has fixed deposits amounting to Rs 1.6 billion.
By 2009 the total Fixed Deposit base of Asian Finance amounted to Rs
3 billion and currently it has fixed deposits amounting to Rs 1.6
billion.
None of The company’s customers were required to have their fixed
deposits be converted into shares of the company and will pay off all
fixed deposits to all share holders in coming years.
TKS finance has embarked on an aggressive branch expansion plan
across the country and 20 new branches are to be opened within the next
three years and has plans to venture into Sharia-compliant finance
business thereby launching its first Sharia-compliant product. Malaysia
has always been on forefront in introducing finance product under Sharia-
conformable.
Accordingly, the company tends to capture the market, which were
particularly untapped markets. “I believe that our product are
innovative enough to capture the imaginations of Sri Lankan customers
and the product will be made available in a few months,” he added. |