TKS Group expects higher efficiency through re-structuring

The Malaysian-owned TKS Group of companies, unveiled its new corporate structure and logos at a media briefing recently.

The re-branding and re-structuring was carried out with a view to enhancing efficiencies and highlighting synergies within the group consisting of Asian Finance Ltd, TKS Finance, and TKS Securities, with TKS Capital Pte Ltd also being established to provide support services such as audit functions, information technology support, secretarial services and human resource management, leaving the other companies in the group to focus on their core businesses, according to Deputy Chairman, TKS Group, Azim Zabidi.

As part of the re-launching, Asian Finance will also be receiving a capital injection of approximately Rs 900 million, whilst the company will be exiting from the real estate market to focus solely on its core business of providing financing to individuals and small businesses, according to Zabidi

Meanwhile, both Asian Finance and TKS Finance, in collaboration with TKS Securities will be launching an Express Share Credit product, whereby customers will be able to get pledge shares as collateral to get cash to meet urgent financial requirements. Zabidi further stated that the group may look at either merging or selling down its stake in either Asian Finance or TKS Finance, since both companies are operating in the same field.

“We’re looking at either merging the two or selling down our stake in either TKS or Asian Finance depending on which gives us most returns,” Zabidi pointed out.

Commenting on the performance of Asian Finance, he said: “We’re not out of the woods yet but we have managed to stop the rot and we hope to turn the company around within the next 12 months, and also plan to expand the TKS group as soon as possible, again within the next 12 months.” (CF)