MNRB (KLSE:MNRB) has submitted an application to Bank Negara Malaysia seeking the Ministry of Finance's approval for the proposed divestment of the takaful units Takaful Ikhlas Family and Takaful Ikhlas General, according to a Wednesday Bursa Malaysia filing.
The reinsurance and takaful company made the application under Malaysia's Islamic Financial Services Act following a recent disclosure of the proposed disposal of its entire stake in two subsidiaries to Rakyat Nominees for about 1.64 billion ringgit.
Shares of the reinsurance and takaful company rose nearly 1% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments