KUALA LUMPUR: Cash-wealthy KSK Group Bhd plans to foray into the property sector and have earmarked key hotspots within the Klang Valley, Penang and Johor for investments, a serious shift from its current core normal insurance coverage business in Malaysia. KSK Insurance coverage (Thailand) Public Company Restricted is a normal insurance company that turned part of the KSK Group in 2008. Pongpanu Damrongsiri joined KSK Insurance (Thailand) in January and earlier than that he was chief company officer at Allianz Ayudhya Life Insurance coverage. KSK developed the e-Cowl Online Insurance Portal last year as its entrance-finish system to help its agents to promote motor insurance.
Cash-rich KSK Group Bhd plans to foray into the property sector and have earmarked key hotspots in the Klang Valley, Penang and Johor for investments, a major shift from its present core basic insurance business ksk insurance in Malaysia. Chatting with the media after the AGM not too long ago, KSK ED and group CEO Joanne Kua Ying Fei said KSK Land Sdn Bhd had been set up to enterprise into the property sector.
KSK Group, previously often called Kurnia Asia Bhd, is now within the technique of being privatised by a proposed selective capital discount (SCR) and reimbursement train that's expected to complete by fourth-quarter 2013. Touching on its overseas insurance enterprise, Kua stated KSK's subsidiaries, PT KSK Insurance coverage Indonesia and KSK Insurance coverage (Thailand) pcl, are growing and hope to interrupt even this year. KSK is targeting 1.1 billion baht (RM112mil) in Thailand and 300 billion rupiah (RM96mil) in Indonesia in gross premiums in 2013.