KUALA LUMPUR: Kurnia Asia Bhd (KAB) is still in talks with interested parties regarding a possible merger and acquisition (M&A) following news in the last few months that the company was looking at selling its insurance arm.
“There are negotiations going on. We are quite an attractive company now,” said Kurnia Insurans (M) Bhd (KIMB) chairman Datuk Dr Sharifuddin Wahab.
“Those who are interested, we are equally interested in them. Whether they are local or foreign, we are alright (for negotiations) as long as we are getting an attractive deal at the end,” he said.
Following a report in The Edge, KAB had on July 21 announced that it received expressions of interest from certain parties to explore the possibility of acquiring an equity interest in KIMB. It added that Bank Negara Malaysia said it had no objection in principle for KAB to commence preliminary negotiations with the interested parties.
Sharifuddin was speaking at a press conference after the official launch of KIMB’s second mobile application, Kurnia One Touch, yesterday.
KIMB started developing the application in June after a soft launch in August. A total of RM70,000 was invested in the application.
“KIMB has about 800,000 motor comprehensive policyholders and with the new mobile application, we plan to widen our new private car comprehensive policy customer base by 20% to 30%,” said its CEO Wong Kim Tech. He added that the increase in the customer base is expected within 12 months.
The application enables KIMB motor policyholders to send information on the location of the car accident through a GPS function to the Kurnia Auto Assist team who will get in touch with the user within minutes and will then send help.
Users are also able to report a claim by photographing and sending pictures of the damaged vehicle, accident scene, and third-party’s details to KIMB branches and workshops via emergency numbers. The application is the first to be launched by an insurance company in Malaysia.
Maxis, KIMB’s partner in the promotion, is offering KIMB policyholders a special bundled package that includes smartphones, tablets and data plans.
The application, which can be used on the iPhone, Android and Blackberry phones, is now available for free download from KIMB’s website.
For the six months ended June, KAB posted a net profit of RM29.46 million on RM573.98 million in revenue. In contrast to the corresponding period a year ago, net profits strengthened almost 9% while revenue gained 8.46%.
KAB said the better showing was a result of improved underwriting and investment performances.
“There are negotiations going on. We are quite an attractive company now,” said Kurnia Insurans (M) Bhd (KIMB) chairman Datuk Dr Sharifuddin Wahab.
“Those who are interested, we are equally interested in them. Whether they are local or foreign, we are alright (for negotiations) as long as we are getting an attractive deal at the end,” he said.
Following a report in The Edge, KAB had on July 21 announced that it received expressions of interest from certain parties to explore the possibility of acquiring an equity interest in KIMB. It added that Bank Negara Malaysia said it had no objection in principle for KAB to commence preliminary negotiations with the interested parties.
Sharifuddin was speaking at a press conference after the official launch of KIMB’s second mobile application, Kurnia One Touch, yesterday.
KIMB started developing the application in June after a soft launch in August. A total of RM70,000 was invested in the application.
“KIMB has about 800,000 motor comprehensive policyholders and with the new mobile application, we plan to widen our new private car comprehensive policy customer base by 20% to 30%,” said its CEO Wong Kim Tech. He added that the increase in the customer base is expected within 12 months.
The application enables KIMB motor policyholders to send information on the location of the car accident through a GPS function to the Kurnia Auto Assist team who will get in touch with the user within minutes and will then send help.
Users are also able to report a claim by photographing and sending pictures of the damaged vehicle, accident scene, and third-party’s details to KIMB branches and workshops via emergency numbers. The application is the first to be launched by an insurance company in Malaysia.
Maxis, KIMB’s partner in the promotion, is offering KIMB policyholders a special bundled package that includes smartphones, tablets and data plans.
The application, which can be used on the iPhone, Android and Blackberry phones, is now available for free download from KIMB’s website.
For the six months ended June, KAB posted a net profit of RM29.46 million on RM573.98 million in revenue. In contrast to the corresponding period a year ago, net profits strengthened almost 9% while revenue gained 8.46%.
KAB said the better showing was a result of improved underwriting and investment performances.
