KUALA LUMPUR: Cash-wealthy 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 significant shift from its present core normal insurance business in Malaysia. KSK Insurance (Thailand) Public Company Limited is a normal insurance coverage firm that grew to become a part of the KSK Group in 2008. Pongpanu Damrongsiri joined KSK Insurance (Thailand) in January and before that he was chief agency officer at Allianz Ayudhya Life Insurance coverage. KSK developed the e-Cowl On-line Insurance Portal final yr as its front-end system to assist its agents to sell motor insurance coverage.
Money-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 current core general insurance coverage business ksk insurance in Malaysia. Speaking to the media after the AGM recently, KSK ED and group CEO Joanne Kua Ying Fei said KSK Land Sdn Bhd had been set up to enterprise into the property sector.
Using funds obtained from selling the group core insurance subsidiary, Kurnia Insurans (M) Bhd to AmG Insurance Bhd, for MM1.63bil on Sept 26, 2012, the company is diversifying to other sectors. KSK Land is taking a look at combine-developments, specializing in constructing excessive-finish apartments, reasonably priced houses and townships, but that would rely on the scale of land they will purchase.