HONG LEONG CEASES TALKS ON SALE OF IN­SURANCE UNITS

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Hong Leong Fi­nan­cial Group Bhd (HLFG) and its wholly-owned sub­sidiary HLA Hold­ings Sdn Bhd have ceased ne­go­ti­a­tions with par­ties for the pos­si­ble ac­qui­si­tion of HLA Hold­ings’ eq­uity in­ter­est in Hong Leong As­sur­ance Bhd and Hong Leong MSIG Taka­ful Bhd. HLA Hold­ings owns 70% and 65% of Hong Leong As­sur­ance and Hong Leong MSIG Taka­ful re­spec­tively. HLFG and HLA Hold­ings could not reach an ac­cept­able com­mer­cial agree­ment with Bank Ne­gara Malaysia-ap­proved ne­go­ti­at­ing par­ties and have mu­tu­ally agreed to cease ne­go­ti­a­tions, HLFG said in a stock ex­change fil­ing.

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