TKS Finance celebrates successes in a short period of operations
Tuesday, 2 July 2013 00:00
The name TKS Finance deserves special mention as a finance company that has achieved resounding success within the shortest possible time.
Through the introduction of innovative products, TKS Finance has positively transformed the outlook of the financial sector into a refreshingly vibrant one, thereby achieving its targets successfully.
Reasoning out the factors that contributed towards this success, CEO Rasika Kaluarachchi explained that its corporate vision and financial strategies as well as strict compliance with Central Bank stipulated guidelines are the dominant features, all of which were energised by the strong capital base that serves as a solid foundation.
TKS Finance is well served by the remarkable knowledge of local and foreign financial experts and the business acumen of giant Malaysian investors.
Elaborating further, Kaluarachchi said: “We always place a premium value on risk management and good governance as well as transparency in our work. In this regard we are fortunate to have with us our Independent Directors the famous Chartered Accountant T. Dharmarajah and former Central Bank Deputy Governor and present Director General of the Bankers’ Association S.H.A.M. Abeyratne, both of whom consistently provide invaluable inputs to our Risk Management and Audit teams. Further, we are also provided with beneficial directions by our Deputy Chairman Dato Azim Zabidi who as former Chairman of Malaysia’s National Savings Bank brings us a wealth of experience.
“We took it upon ourselves to positively change the face of financial landscape, by introducing a range of innovative financial products through a customer-friendly approach. We made it a point to do everything with a refreshing novelty and present it to customers in an attractive manner. Due to this pioneering spirit in us, we actually did not feel any competition. In reality, if not for the utmost commitment and focus of our entire staff and management, these inspiring achievements would not have been possible. Through their heart-warming team efforts we were able to collectively step out of the unyielding and outdated practices of this industry and bring in a refreshing breeze of innovation and productivity to our ever-growing base of customers. Through an utmost professionalism and customer-oriented mindset, our staff made available to the people a brand of service that was received with much appreciation and enthusiasm.”
Although most finance companies channel their efforts to hunt down opportunities in vehicle leasing, TKS Finance’s interest lay in pursuing diversified portfolios whilst ensuring the honouring of risk management policies as well. “We believe these factors have been weighed in the minds of our customers who then decide to renew their deposits placed in our care. We say this because the percentages of such renewals are as high as 95%. This also demonstrates the trust they have placed in the company. Simultaneously, the Non Performing Advances (NPA) in our loan portfolio is zero. This is considered a very favourable factor in a finance company.
“We have opened three full-fledged branches during the course of last financial year. These are already bringing in profits. Plans are afoot to open up more branches in the future.
“We ought to be happy about foreign investors contributing towards the development drive of our country. Hence, we are thankful to the Malaysian investors, our Chairman Dato Tiong King Sing and Director Ling Chui Zhen.”
TKS Finance has now completed the task of building a solid foundation for itself. The company’s path ahead is very clear and it possesses the strength, strategy and acumen to withstand any adversity and maintain the momentum of its progress.
“It’s our aim to bring in positive results to our stakeholders, the financial industry of the country and to Sri Lanka itself,” Kaluarachchi concluded.