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Islamic Finance Briefing - Categorized | Capital Market (Equity, Mutual Funds), Insurance (Takaful) more

BIMB ends talks on takaful firm stake sale

Posted on 18 November 2009

From Btimes.com.my: BIMB Holdings Bhd (BHB) said it has ceased talks with Abu Dhabi-Kuwait- Malaysia Strategic Investment Corp (ADKMSIC) to sell a 49 per cent stake in its Islamic insurance arm, Syarikat Takaful Malaysia Bhd.

In its filing to Bursa Malaysia yesterday, BHB said ADKMSIC had informed the group via a letter dated November 2 2009 that “in view of the changes in the current economic conditions, circumstances are no longer conducive for ADKMSIC to continue to pursue the proposal”…………Full Article: Source

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