KUALA LUMPUR: IHH Healthcare Bhd
’s indirect wholly-owned unit, Parkway Holdings Ltd, has disposed of 90% stake in Shenton Insurance Pte Ltd to FWD Group Financial Services Pte Ltd for about S$8.4mil (RM81.35mil).
In a filing with Bursa Malaysia on Thursday, IHH said the disposal was undertaken as Shenton Insurance, a private limited company incorporated in Singapore, was identified as a non-core asset.
“Prior to the disposal, Shenton Insurance was a wholly-owned unit of Parkway Holdings Ltd and following the disposal, the Shenton Insurance ceased to be a subsidiary of Parkway,” IHH said.
IHH said the disposal would not have any effect on its issued and paid-up share capital and substantial shareholders shareholdings. - Bernama
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
