KUALA LUMPUR: PacificMas Bhd has failed to gain Bank Negara’s approval to commence talks with a local party for the disposal of its insurance unit, The Pacific Insurance Bhd.
“The company received a letter from Bank Negara dated June 24 stating that it was unable to consider the application from PacificMas to commence negotiations with the local party for the proposed disposal,” PacificMas said in a filing with Bursa Malaysia yesterday.
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