Takaful Ikhlas Gets Capital Injection Of RM20 Million From MNRB

Bernama -- MNRB Holdings has given a capital boost of RM20 million to its subsidiary company Takaful Ikhlas Sdn Bhd, increasing its total paid up capital to RM195 million.

In a statement here Tuesday, it said the increased capital was in line with the financial sector's masterplan to strengthen the capacity of Takaful operators and ensuring a healthy growth for the industry.

"The raising of the company's capital through this injection will equip us with sufficient basic capital to finance the company's continued expansion initiatives," the president and chief executive officer of Takaful Ikhlas, Syed Moheeb Syed Kamarulzaman said.

He said the company was projecting a revenue contribution of RM520 million for the 2008/2009 financial year.

“We have lined up several innovative new products and plans to beef up business collalaborations and services initiatives in our efforts to improve our services," he said.

Takaful has todate launched more than 77 family and general Takaful products for both individual and group participants.

Todate, more than 600,000 individuals and companies have signed as the company's policy holders.