BIMB says talks to sell strategic stake in takaful still on
Jun 16th, 2009 by 1takaful
Source: The Edge Daily, 16th June 2009
BIMB Holdings Bhd says talks to dispose of a strategic stake in its takaful operations to Abu Dhabi-Kuwait-Malaysia Strategic Investment Corp are still ongoing but there could be some amendments.
BIMB group managing director Johan Abdullah said negotiations between Syarikat Takaful Malaysia Berhad (Takaful Malaysia) and the consortium was ongoing.
“But Takaful Malaysia might make some changes to the deal, mainly in view of the weak global market conditions.
“Takaful Malaysia is re-looking at the parameters and terms and conditions in the deal to ensure that the benefits of our stakeholders are still upheld,” he said.
Johan said at this juncture, there were no other interested parties in the possible stake acquisition in Takaful Malaysia.
However, he said the Islamic insurance operator was open to other interested parties given that it was a commercial decision for Takaful Malaysia to make.