Kurasia Dec 2011

Kurasia: It announced that it had submitted an application to BNM for the approval of MOF to enter an agreement to possibly dispose of its wholly owned subsidiary Kurnia Insurans Bhd to AmG Insurance Bhd. It was reported that KAB would most likely sell KIMN at around 2.5 to three times the book value of the company. The book value is rm720 million as at March 31, 2011. The deal would be around rm1.8 billion to rm2.2 billion.