Mah Sing Group Bhd
is negotiating to buy a 30% stake in MUI Continental Insurance Bhd (MUI Insurance). The insurance business will offer a return on investment (ROI) that is higher than that from the non-core assets the property developer plans to sell.
Mah Sing will not have to part with any cash or take on any bank debts to pay for the stake. The insurance acquisition would be entirely paid for with the proceeds from the sale of the company's non-core assets, chief executive Datuk Leong Hoy Kum told StarBiz yesterday.
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