MPHB Capital unit still in talks to sell stake in MPI Generali


MPHB Capital Bhd is unaware of the reasons which caused the sharp rise in price and volume of the company’s shares on Thursday.

KUALA LUMPUR: MPHB Capital Bhd is unaware of the reasons which caused the sharp rise in price and volume of the company’s shares on Thursday.

In its reply to Bursa Malaysia Securities’ query over the unusual market activity on Friday, it said last year it had informed the stock exchange over the proposals to dispose of its stake in MPI Generali to Generali Asia N.V.

MPHB Capital said on Sept 29, it announced to Bursa Securities that Bank Negara did not object to the plan by its unit Multi-Purpose Capital Holdings Bhd (MPCHB) to start discussions on MPCHB’s potential disposal of its 21% equity interest or 51% equity interest in MPI Generali.

“MPCHB is currently still in the midst of negotiation with Generali Asia on the potential disposal and the parties have not come to an agreement nor have finalised any terms on the potential disposal, ” it said.

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