Foreign insurers get more time to lower shareholdings

Bloomberg quoted Khor as saying during a briefing that the insurer was looking at both the initial public offer and the sale of stake as options.

KUALA LUMPUR: All foreign insurers operating in Malaysia have about two more months to submit their plans on paring down their shareholdings in their local units.

According to Bank Negara governor Datuk Nor Shamsiah Mohd Yunus, the foreign insurers are required to submit their respective plans by early April this year.