Kurnia Group
Corporate Presentation to retail investors
Kurnia participated in a corporate presentation to retail investors, organized
by a local brokerage house on 6 March 2010.
The Management introduced the major catalysts to invest in Kurnia. Firstly,
there is a positive structural change in the motor insurance scheme in Malaysia’s
general insurance industry, expected to be introduced in mid-2010. The industry
has proposed a change from unlimited liability to limited liability for Third
Party bodily injury and death claims. In addition, there will be more rating
factors that will be used to calculate the appropriate premiums to be charged
to reflect the risk profile. Claims settlement will be simplified and expedited.
These changes are expected to have a positive impact on the industry and on
Kurnia as well.
The second catalyst comes from the successful transformation of KIMB through
the Transformation of Operations and Performance (TOP) programme to record
a positive underwriting profit for 6 consecutive quarters. TOP’s 5 pillars
of strategy and direction going forward were clearly elaborated. To become
a winner in the liberalized market, the company believes that a strong distribution
network and partnerships, excellent value-added services (such as KAA and KE),
a good reputation as well as a lean operation will be very critical. Hence,
the second wave of transformation dubbed Mission 15 will help Kurnia to become
a lean operator by encompassing effective cost management measures and upgraded
service standards.
The third catalyst discussed was the opportunity for Kurnia to grow not only
in Malaysia but also in Indonesia and Thailand. Kurnia plans to ramp up the
scale of its overseas business. 2010 is the year of growth!
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| The crowd of retail investors at the seminar |