KOTA BARU: Takaful Ikhlas Sdn Bhd, a wholly-owned subsidiary of MNRB Holdings Bhd, is projecting first year annual contribution of RM8 million to be generated from the week-long Malaysian Unit Trust Week (MSAM) 2014 which started yesterday.

President and Chief Executive Officer Ab Latiff Abu Bakar said last year's carnival in Perlis, Takaful Ikhlas recorded a first year annual premium of RM4 million.

"We were quite surprised with this because the state is very small compared with others and our initial target in Kangar was only RM2.5 million," he told Bernama in conjunction with MSAM 2014.

He was confident Takaful Ikhlas would reach this year's target based on the RM100,000 in premium income earned at the carnival as of noon today.

At MSAM, Ab Latiff said Takaful Ikhlas offered investment and traditional products managed by its 300 agents around the country.

"I expect investment products to receive a more favourable response from the investing public since it comes with a medical card," he said.

He said the fast pay out of commissions for Takaful Ikhlas agents, which was within 24 hours, was expected to boost sales.

Customers signing up for Takaful Ikhlas products during the carnival would receive on the spot approval, including the issuance of medical cards, if they fulfil certain criteria, said Ab Latiff.

MSAM 2014, organised by Permodalan Nasional Bhd with, themed '360 Investment' will end on Sunday.

- Bernama