TKS Finance boosts share capital with another Rs. 100 million

TKS Finance Chairman the Malaysian business tycoon Dato Seri Tiong King Sing has infused another Rs. 100 million into the share capital of the company

TKS Finance CEO Rasika Kaluarachchi explained that with the infusion of Rs. 100 million, the total share capital has now reached a substantial Rs. 300 million, which is far above the Central Bank of Sri Lanka stipulated core-capital requirement.

The move is to further strengthen the company’s financial position to serve TKS Finance’s growing customer base with innovative products.

The bompany’s ‘Rajya Abhimana’ personal loan scheme which is offered to the government sector employees has gained in popularity since its introduction.

“By offering this much appreciated product, TKS Finance – the newest company that entered the financial sector just 5 months ago in August 2011, has already proven its promise of getting away from the beaten track with introduction of novel products to the benefit of general public,” Kaluarachchi said.

He said that capital enhancement was with the intention of further strengthening the capacity of the company to offer many more such novel public beneficial products and based on the successful experience already gained with the “Rajya Abhimana.”

Emphasizing on TKS Finance Ltd’s focus on offering novel and value added products to the public, Kaluarachchi said the other novel product that has received much appreciation and continuous acceptance of the public - Flexi Deposits.

As this Flexi Deposit gives the public the hitherto unheard of freedom of choosing the period of deposit of their own choice, rather than getting strictly confined to the earlier restricted system of definite blocks of 3 months, 6 months, 12 months etc., Flexi Deposit is gaining in ever increasing popularity with the appreciative public.

The company commenced its savings accounts scheme recently. Share financing business will also be started combined with its member company, TKS Securities Ltd within a shorter period of time.

With the infusion of the latest amount of Rs. 100 million, Kaluarachchi spoke of the opening up of branch network in the New Year.

This will allow TKS Finance Ltd to reach to a more number of people in much quicker time, thereby acquiring the opportunity to serve a greater number of people in a wider spectrum of the country by contributing more effectively to the rural segment of the economy.

“TKS Finance is focused on making a positive contribution to the qualitative enhancement of peoples’ lives through the introduction of novel methods and products. In that sense our attitude is always positive and pro-active,” the CEO said.

Kaluarachchi said TKS Finance Ltd is fully focused on the corporate governance and Central Bank’s rules and regulations for Registered Finance Companies with a view to protect  all stakeholders.