Sunday, Apr 19, 2015Sunday, Apr 19, 2015

United Overseas Bank may sell indirect insurance stake in Malaysia

Published on Feb 18, 2014 10:22 PM

United Overseas Bank (UOB) said on Tuesday that its 33.37 per cent indirect shareholding in Malaysian general insurer Uni.Asia General Insurance (UAG) may be sold.

UOB owns 49 per cent of Uni.Asia Capital which in turn owns 68.09 per cent of UAG.

Uni.Asia Capital has asked Bank Negara Malaysia for approval to sell its UAG stake, to Liberty UK And Europe Holdings.

The divestment is subject to the obtaining of regulatory approvals.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!