Alliance Bank to sell 30% stake in AIA AFG Takaful Bhd for RM45m

  • PR would have suffered serious losses in 2013 polls if hudud was major issue, says DAP
    PR would have suffered serious losses in 2013 polls if hudud was major issue, says DAP

    Pakatan Rakyat would have suffered devastating setbacks in Perak, Pahang, Negri Sembilan and Melacca if it had made hudud a major issue in last year’s general election, DAP advisor Lim Kit Siang said. The Gelang Patah MP (pic), who had earlier said hudud was never a vote-winner for PAS in previous elections, gave an illustration of how PR... …

  • Court acquits PKR rep, rules 10-day notice in public assembly act ‘unconstitutional’
    Court acquits PKR rep, rules 10-day notice in public assembly act ‘unconstitutional’

    The Court of Appeal today struck out the charge against Selangor's deputy speaker Nik Nazmi Nik Ahmad who was charged under the Peaceful Assembly Act for failing to give police a 10-day notice for a rally last year. A three-man bench led by judge Datuk Mohamad Ariff bin Md Yusof also ruled in a unanimous decision today that Section 9 (1) of... …

  • Assembly law cannot criminalise public gatherings, court rules
    Assembly law cannot criminalise public gatherings, court rules

    PUTRAJAYA, April 25 ― The Court of Appeal today unanimously ruled it unconstitutional to criminalise spontaneous public assemblies in breach of the 10-day notice required under the Peaceful... …

  • Albukhary International University withdraws decision to cease operations – Bernama
    Albukhary International University withdraws decision to cease operations – Bernama

    The Albukhary International University (AiU) in Alor Setar, Kedah has withdrawn its decision to cease operations. Second Education Minister Datuk Seri Idris Jusoh said the ministry was informed of the matter by the management of AiU through a letter Wednesday. "With that decision, the matter is no longer an issue," he told reporters... …

  • Jalan Bukit Bintang stretch remains closed to traffic
    Jalan Bukit Bintang stretch remains closed to traffic

    The 500m stretch of Jalan Bukit Bintang (Jalan Tun Razak-bound) between Chulan Square and Menara Worldwide will remain closed to all traffic, said Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) today. At 10.42pm last night, a sinkhole appeared at the left lane of Jalan Bukit Bintang, said MRT Corp in a statement released this morning. The... …

  • Bible ban in Pahang hotels draws flak
    Bible ban in Pahang hotels draws flak

    Islamic authorities in Pahang have overstepped their jurisdiction by banning non-Muslim religious materials in hotels in the state, say political and religious leaders. The Pahang Islamic and Malay Customs Council's (Muip) recent prohibition is the first ever such ban to be issued in the country involving hotels, and has drawn strong criticism... …

KUALA LUMPUR (MAR 11): Alliance Financial Group Bhd's (AFG) wholly-owned unit Alliance Bank Malaysia Bhd (ABMB) has entered into a conditional share sale agreement with American International Assurance Bhd (AIA) for the disposal of its 30% equity interest in AIA AFG Takaful Bhd to the latter for RM45 million.

The disposal of 30 million ordinary shares of RM1 each in AIA AFG Takaful Bhd was for a total cash consideration of RM45 million.

AIA AFG Takaful Bhd is a joint venture company between AIA and ABMB, carrying out the family takaful business.

The disposal is not expected to have any material effect on the net assets per share, earnings per share and gearing of AFG for the financial year ending 31 March 2013, according to a filing to Bursa.

Follow @YahooMalaysia on LINE for daily news updates.

Comments on Yahoo pages are subject to our link to Comments Guidelines. You are responsible for any content that you post. Yahoo is not responsible or liable in any way for comments posted by its users. Yahoo does not in any way endorse or support comments made by its users.

  • MH370 passenger’s partner tells of strange email from sacked Fox officer The Malaysian Insider
    MH370 passenger’s partner tells of strange email from sacked Fox officer

    The partner of an American passenger aboard the missing Malaysia Airlines flight MH370 has spoken about how a Fox executive who was recently sacked by the news station had contacted her offering to raise funds on her behalf. Sarah Bajc, whose partner Philip Wood is among the 239 people on board the missing plane, told the Sydney Morning Herald... …

  • My last moments with Pa: Ramkarpal Singh The Malaysian Insider
    My last moments with Pa: Ramkarpal Singh

    A week after the tragic crash that took the lives of veteran lawyer and politician Karpal Singh and his personal aide, Michael Cornelius, his son Ramkarpal recounts the final hours with his father that fateful day. This is his story, as told to V. Anbalagan, assistant news editor. “My parents (Karpal and Gurmit) had gone to Pantai Hospital... …

  • In Disney's shadow, homeless families struggle Associated Press
    In Disney's shadow, homeless families struggle

    KISSIMMEE, Fla. (AP) — When they moved from Georgia to the theme park playground of central Florida four years ago, Anthony and Candice Johnson found work at a barbecue restaurant and a 7-Eleven. Their combined salaries nevertheless fell short of what they needed to rent an apartment, so the couple and their two children have instead been hopping among cheap motel rooms along U.S. 192. …