Saturday, April 16, 2011

MAA seeks BNM nod for Zurich deal

MAA Holdings Bhd has submitted an application to Bank Negara Malaysia (BNM) to seek approval to enter into an agreement and dispose off five of its units to Zurich Insurance Company Ltd.

The units are Malaysian Assurance Alliance Bhd (MAAB), Multioto Services Sdn Bhd, MAAGNET Systems Sdn Bhd, Malaysian Alliance Property Services Sdn Bhd and MAAGNET-SSMS Sdn Bhd, said MAA in a filing to Bursa Malaysia today.

MAA had previously maintained that it is still in discussions for the possible disposal of its wholly-owned unit, MAAB, to Zurich.-- Bernama--
Published: 2011/04/11


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