Interest in MPHB Cap unit

PETALING JAYA: MPHB Capital Bhd has received expressions of interest from an interested party to explore the possibility of forming a strategic alliance with its unit Multi-Purpose Insurans Bhd (MPIB).

MPHB said Bank Negara had issued a letter telling it that it had “no objection in principle” for it to commence these negotiations for the possible disposal of a minority stake in MPIB. The interested party would, however, also be required to obtain the prior approval of Bank Negara pursuant to the Financial Services Act 2013, before entering into any agreement to effect the above disposal.