Initializing new trends in raising capital, the TKS Group of Companies introduced fresh and bold options to generate capital. Consequences of moribund and staccato trends at the Colombo bourse provoked bold initiatives that would jump start newer trends in capital regeneration.
Giving credence to these and other capital power infusion alternatives, Deputy Chairman TKS Group of Companies, Azim Zabidi said the answer could be that such alternatives would generate fresh thinking, irrespective of a lackluster bourse, or for that matter even a vibrant stock exchange. Trends he revealed at a press conference last week could allay fears of investors who may get nervous even when knee – jerk rumour could have negative influences on capital infusion.
‘Draw cash on pledge for shares’ — this was the theme. However, questioned by the press on its credibility subject to the lackadaisical mood in the stock exchange, Zabidi said what was proposed was a completely new innovation to activate dormant funds. In the usual order of things, such holders of equity would be reluctant to either divest such holdings, or hold on to these shares expecting an upward movement of the market.
This may or may not be realistic. But if such shares are released for funds, such investors have cause to activate commercial activity. Zabidi however said such exchanges was in the short term.
TKS, Malaysian based was a major investor in the triad group of Asian Finance, TKS Securities, and TKS Finance.
Additionally it was recent company policy that divesting real estate stock was being actively pursued. Notably, buildings belonging to the company. What was intended was that such real estate be sold and finances raised would be added plusses for greater investment. Sanathana Dalugoda, CEO, Asian Finance said that they expected to realize at least one Billion Rupees from such divestiture.
Additionally it was that they would continue to occupy their current office space, but the difference would be that such space would be on rent or lease agreements.
TKS Capital Pte., Ltd., was established to facilitate wide cross section of services that included audit functions, information technology, secretarial services, and human resource management.
He also said in response to further questions, that tourism will be actively considered, which would include investments in hotels, and the tourism trade.
Director TKS, le Chong Pa, Director TKS, Senator Pan Chong Ung, Deputy Chairman, TKS Group of Companies, Dato Seri Abdul Azim Bin Mohad Zabidi, Director CEO TKS Services, Hussain Gani and CEO TKS Finance Rasika Kaluarachchi were also present.