Kurnia Group
Kurnia Asia Eyes Expansion Via Joint Ventures
BERNAMA - Monday, February 5th, 2007
PETALING JAYA, Feb 5 (Bernama) -- Kurnia Asia Bhd is looking to expand its business in new markets through joint ventures, says its group managing director/chief executive officer, Datuk Adrian Loh Heong Chow.
He said the company was currently in the process of identifying the new markets.
"At the moment, we are not talking with any parties yet," Loh told reporters here Monday.
Currently, Kurnia is the largest general insurance company in Malaysia with gross premiums exceeding RM1 billion.
On Kurnia's investment in Indonesia, Loh said the company expected its Indonesian unit to start operations in first quarter of this year.
"We already got approval from relevant parties and we are in final stages," he said.
Last year, Kurnia has proposed to acquire 80 percent stake in PT Asuransi Aegis Indonesia to expand its business into the general insurance market in Indonesia.
Meanwhile, Loh claimed that in recent weeks, certain parties had been distributing flyers and send text messages anonymously to its agents, customers and the public to try to smear the company's reputation.
He said the company had lodged police reports and reported to the relevant parties such as Bank Negara Malaysia and General Insurance Association of Malaysia on the matter.
He urged the public to ignore such messages and flyers and urged Kurnia's policyholders to call its 24-hour Kurnia Auto Assist hotline should they encounter any problem.