Insurance News
Brief insurance news and digest for the busy executives. A handy insurance news archive with main focus on Malaysia. Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we will not be liable for any loss arising from the use of any information contained in this blog. You may reproduce materials published here provided the source (news.actuaries.com.my) is properly acknowledged.
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Wednesday, 8 April 2009
Hong Leong Bank to dispose of HLTMT
Hong Leong Bank (HLB) is selling its 55% stake in Hong Leong Tokio Marine Takaful (HLTMT) to HLA Holdings Sdn Bhd (HLAH) for RM53.67 mil. The original cost of investment is RM55 mil. The proposed transaction value is based on the net assets of HLTMT as per audited account at 30 June 2008.Some background information on the structure of the group:
- Hong Leong Financial Group Berhad owns 64% of HLB, 100% of HLAH and 100% of Hong Leong Assurance Berhad (HLA)
- Current shareholders in HLTMT are: HLB (55%), HLA (10%) and Tokio Marine & Nichido Fire Insurance Co., Ltd (35%)
Source: Bursa
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
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