News in brief

Allianz General Insurance Malaysia Bhd has sold its 1.192 million shares, or 53% stake, in MBA Insurance Sdn Bhd in Brunei to GHK Holdings Sdn Bhd for RM4.16mil cash. 

The company said in a statement that the sale was part of its strategy to consolidate its business to be based in Malaysia. 

The disposal, it added, would generate a profit of RM1.17mil. – AFX 

Sapura Telecommunications Bhd now owns 63.72% of Crest Petroleum Bhd after its extended general offer for the remaining shares, at RM3.60 per Crest share, finally closed on June 19. 

Sapura held a 39.47% stake in Crest when the general offer was made, and received valid acceptances totalling an additional 24.25%, or 48.287 million shares, as of 5.00 pm on June 19. – AFX 

Gadang Holdings Bhd said that pursuant to a letter of intent issued by the Health Ministry, its unit Gadang Engineering (M) Sdn Bhd (GESB) had on June 18 signed a consortium agreement with Perembun (M) Sdn Bhd to form an unincorporated joint venture. 

The joint venture, known as Gadang-Perembun consortium, will submit a technical and financial proposal for the construction of the Lady Templer Rehabilitation Hospital. – Bernama  

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