Buletin Takaful

Source: The Star, 3rd September 2010

Existing takaful operators will have to “up their game” and gear up for stiffer competition as the granting of four new licences by Bank Negara on Wednesday will see more players fighting for a share of the profit slice.

Takaful Ikhlas Sdn Bhd president and chief executive officer Datuk Syed Moheeb Syed Kamarulzaman said the company would need to find a niche to stay ahead of the competition.

“We were surprised that four new players were granted licenses rather than two. With more players coming in competition will increase and so will customer expectation,” he said when contacted by StarBiz yesterday.

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Source: The Star, 18th August 2010

Takaful Ikhlas Sdn Bhd president and chief executive officer Datuk Syed Moheeb Syed Kamarulzaman has dismissed market talk that Malayan Banking Bhd’s (Maybank) takaful unit Etiqa Takaful Bhd was planning to acquire the company as a rumour.

He told StarBiz there had been no discussion on the matter at shareholder, parent or company level.

“There has not been any discussion at Permodalan Nasional Bhd (PNB), MNRB Holdings Bhd or Takaful Ikhlas on such an acquisition. It does not make sense. If there was (discussion), Maybank and MNRB as public listed companies should have got approval from Bank Negara before commencing acquisition.

“Furthermore, as one of the fastest growing takaful companies, Takaful Ikhlas has it own brand and appeal as well as its unique selling proposition. Therefore, it makes no sense to ‘rock a moving speedboat’ like us,” he added. PNB’s stake in MNRB as at August was 74.64%.

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Source: The Star, 17th June 2010

Kurnia Asia Bhd has applied for a takaful licence and is awaiting the response from Bank Negara, said director of corporate planning/investor relations Dr James Tee.

Group chief financial officer and director Looi Kok Leong said the company had submitted the application last year.

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