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.

“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.