Kurnia Group
Kurnia Asia records RM43 Million profit for 6-month period ended 2009
16 June 2010
Petaling Jaya, 16 June 2010 – Kurnia Asia Berhad (KAB) held its 9th
Annual General Meeting (AGM) today at its corporate head office in Menara Kurnia,
presenting its audited results for the 6-month period ended 31 December 2009,
following the change of financial year ending from 30 June to 31 December as
announced on 24 June 2009.
KAB’s Executive Chairman, Tan Sri Dato’ Paduka Kua Sian Kooi,
was pleased to report that the Group achieved a turnaround in profit from a
net loss of RM12.00 million in the 6-month period ended 31 December 2008 to
a net profit of RM43.08 million for the corresponding 6-month period ended
31 December 2009.
“We believe that we are firmly back on a profitable path. The Group
has recorded continuous healthy profits thanks to our on-going internal transformation
programs, namely Transformation of Operations and Performance (TOP) and Mission
15, where we have implemented initiatives to carry out more stringent business
risk selection, better claims management, diversification into non-motor business,
prudent cost management and performance-based management system”, commented
Tan Sri Kua.
KAB’s wholly-owned subsidiary, Kurnia Insurans (M) Berhad (KIMB), was
awarded as one of the Top 30 Malaysia’s Most Valuable Brands in November
2009 for the third consecutive year. KIMB was the only insurance company to
receive the prestigious award in 2009, reaffirming Kurnia as a trusted local
brand and its commitment to deliver the best service to its 3 million policyholders.
Tan Sri Kua asserted: “We continuously strive to provide customers value
in our products and excellence in our service. As a testimony of our commitment
and promise, we recently launched and extended our Kurnia Auto Assist Rider
(KAA Riders) service in Penang two weeks ago. It is also our plan to extend
the KAA Riders to Johor Bahru by end of this year. Furthermore, we have set
in place plans to be rolled out this year with the objective of increasing
awareness about our unique value added services. We believe our value-added
services will further enhance Kurnia’s value propositions and also enhance
our customers’ service experience.”
KIMB’s private car motor comprehensive insurance policyholders will
have access to KAA’s free roadside assistance 24 hours a day by calling
the toll-free hotline 1-800-88-3833. In an innovative move to better serve
its customers, the KAA breakdown service has been enhanced with KAA Riders,
who are qualified technicians or mechanics on motorbikes, stationed at several
hot spots with the aim of arriving at the scene of a breakdown or accident
within 15-30 minutes. The KAA Riders are currently available in the Klang Valley
and Penang.
Apart from the Malaysian operations, KAB has general insurance business operations
in Indonesia and Thailand as well.
“Indonesia and Thailand are among the key emerging markets in the region.
We believe that they hold tremendous potential and will contribute meaningfully
to the Group’s revenue in the future,” commented Tan Sri Kua
KAB successfully concluded its 9th AGM, where all resolutions, as contained
in the notice of annual general meeting dated 25 May 2010, were duly approved
by the shareholders present.