PETALING JAYA: KSK Group Bhd plans to boost its insurance coverage companies in Indonesia and Thailand through organic and inorganic development methods and aimed to achieve the top ten position within the next five years. Pongpanu is the third chief govt of KSK Insurance coverage (Thailand) because the KSK Group started its foray into the Thai insurance coverage market in August 2011, when it acquired Asia Dynamic Insurance coverage via Malaysian firm Kurnia Damai. Bupa Global has collaborated with KSK Insurance to have the ability to supply their world-class insurance coverage to Indonesia.
Using funds obtained from selling the group core insurance subsidiary, Kurnia Insurans (M) Bhd to AmG Insurance coverage Bhd, for MM1.63bil on Sept 26, 2012, the company is diversifying to different sectors. KSK Land is looking at combine-developments, specializing in building excessive-end apartments, affordable houses and townships, but that may rely upon the size of land they'll purchase.
KSK Group, formerly generally known as Kurnia Asia Bhd, is now within the means of being privatised via a proposed selective capital reduction (SCR) and compensation train that's expected to complete by fourth-quarter 2013. Touching ksk insurance on its overseas insurance coverage enterprise, Kua said KSK's subsidiaries, PT KSK Insurance Indonesia and KSK Insurance coverage (Thailand) pcl, are growing and hope to break even this 12 months. KSK is concentrating on 1.1 billion baht (RM112mil) in Thailand and 300 billion rupiah (RM96mil) in Indonesia in gross premiums in 2013.