KUALA LUMPUR: HSBC Insurance (Asia Pacific) Holdings Ltd, an indirect wholly-owned subsidiary of HSBC Holdings Plc (HSBC), will be disposing of 49% of its shares in HSBC Amanah Takaful (Malaysia) Bhd to FWD Life Insurance Company (Bermuda) Ltd.
HSBC Bank Malaysia chief executive officer Stuart Milne said the Finance Minister, via Bank Negara, has given approval for the transaction and it is expected to be completed during the first half of 2019.
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