ELK-Desa Resources Berhad (ELK-Desa) started its hire purchase financing operations in 2004, in view of the continued growth of the automobile industry as well as the rapid urbanisation taking place throughout the country as Malaysia progresses towards a high income nation.
From the onset, ELK-Desa's core focus area was in the under-served hire purchase financing for used motor vehicles. Over the years, the company has successfully established a strong presence and reputation in this segment.
Operating in this niche area has also enabled the company to grow in terms of size and reach within this highly competitive hire purchase financing industry.
On 18 December 2012, ELK-Desa Resources Berhad (Stock Code: 5228/Sector: Finance) was successfully listed on the Main Market of Bursa Malaysia Securities Berhad. This significant milestone provided the Group with the impetus to expand even further in a dynamic and sustainable manner.
Today, ELK-Desa is involved in two business segments that provide products and services targeted at the consumer market. These two segments include hire purchase financing for used motor vehicles and furniture trading.
The Group's hire purchase financing division remains its primary business activity and income generator, while its furniture trading division is a relatively new but growing business venture that has the potential to contribute positively to ELK-Desa's earnings and growth in the foreseeable future.
As an extension of its hire purchase financing business, ELK-Desa also cross-sells general insurance products to its hire purchase customers. These products are mainly from leading insurance brands including Tokio Marine Insurans (Malaysia) Berhad and Berjaya Sompo Insurance Berhad
As a Group, ELK-Desa currently employs close to 250 individuals and its business activities are centered within the Klang Valley.