TKS GROUP OF COMPANIES UNVEILS NEW CORPORATE STRUCTURE AND LOGO

PRESS RELEASE
TKS GROUP OF COMPANIES UNVEILS NEW CORPORATE STRUCTURE AND LOGO

TKS Group of companies, which is IVIalaysian owned, today unveiled its new corporate structure and logo with a view of enhancing further its efficiency and highlight the business synergies within the Group itself. The new corporate logo and structure is expected to bring the various companies under one banner so as to better serve its
growing client base.

TKS Group has diversified interests in the Sri Lankan market. In the financial sector, it has three companies in its stable namely Asian Finance Ltd., TKS Finance Ltd. and TKS Securities Pte. Ltd. To ensure a more efficient environment within these companies
and to propel these companies forward, TKS Capital Pte. Ltd. has been established to provide various support services to the Group such as audit functions, information technology support, secretarial services and human resource management, amongst
others…

Mr. Azim Zabidi, Deputy Chairman of TKS Group of Companies, said that the Group’s finance arm would rapidly expand its operations in Sri Lanka to provide its customers a wider product range. “We want to strengthen the brand and reach the public with simple solutions and strong commitment,” said Mr. Azim Zabidi.

In line with the synergy that exists within the Group, both Asian Finance & TKS Finance in collaboration with TKS Securities today officially launched its unique Express Share Credit product, a first of its kind in Sri Lanka, said Mr. Azim Zabidi .The facility allows its customers to get cash against the pledge of their shares to meet their urgent financial requirements.

The Board of Directors of Asian Finance has been reconstituted with the inclusion of professionally qualified Directors, nominated by the new shareholders. Asian Finance prides Itself in that none of its depositors were required to have their fixed deposits be
converted into the shares of the company. Stringent internal control & vigorous provisions have also been made on the Loans Portfolios & Real Estate Stocks of Asian Finance to put the company on a stronger footing to face the challenges ahead. Additional capital will be further injected to fund the company expansion program within the next few months. The current capitalization of Asian Finance stands at Rs.900.00 million, said Mr. Azim Zabidi.

Mr. Azim Zabidi added that Asian Finance will not engage further in the business of Real Estate but instead focus purely on its core business, which is providing finance to the people and small businesses of Sri Lanka.As part of its exit strategy in the Real Estate business, Asian Finance recently undertook a corporate exercise to unlock the value of its Head Office by disposing and
subsequently leasing back the property. This corporate exercise is expected to generate cash flow for Asian Finance. Mr. Azim Zabidi said that the completion of this exercise is expected in the next few months…

TKS Securities, the equity investment arm of the Group, is managed by a highly experienced team of stockbrokers and analysts and can be regarded as one of the leading stock brokers in Sri Lanka .The company is also the exclusive partner in Sri
Lanka for New York based Auerbach Grayson and Company, one of the largest equity investors in the Colombo bourse. TKS Securities have set up branches in major cities in Sri Lanka to expand and serve its corporate and retail clients better.
As for TKS Finance, now entering its second year of operations, plans are afoot to expand its network of branches throughout the country. 20 new branches are expected to be opened within the next 3 years. This should place TKS Finance as a force to be
reckoned with in the ensuing years, says Mr. Azim Zabidi.

To differentiate the TKS Group finance arm from the rest of its competitors, Asian Finance is planning to co-brand the issuance of Visa Credit Cards with a local bank in Sri Lanka.

Also, the TKS Group’s finance arm is expected to venture into Syariah-compliant finance business, by launching its first Syariah-compliant product soon. In addition. The TKS Group’s finance arm together with TKS securities will be collaborating further to
innovate & launch new products to meet the needs of TKS Securities’ clients.Mr. Azim Zabidi stressed that the Group is heading in the right direction with its members gaining market share and will show strong growth and good profits in the coming years.


This entry was posted in Press Releases. Bookmark the permalink.

Comments are closed.