FINWIRES · TerminalLIVE
FINWIRES

MNRB Holdings Signs Pact to Sell Takaful Ikhlas to Bank Rakyat for MYR1.64 Billion; Shares Up 8%

By

MNRB Holdings (KLSE:MNRB) has agreed to sell its Takaful Ikhlas Family business to development financial institution Bank Kerjasama Rakyat Malaysia (Bank Rakyat) for 1.64 billion ringgit in cash, according to a Tuesday filing to the Malaysian bourse.

The company's shares jumped nearly 8% in Wednesday's trade.

The company said it has signed an implementation agreement with Rakyat Nominees and Bank Rakyat for the proposed sale of its wholly-owned subsidiaries, Takaful Ikhlas Family and Takaful Ikhlas General.

The deal is subject to regulatory approval and the final sale agreements are expected to be signed within 12 months.

The proposed divestment is aimed at helping the company to focus on opportunities that support its long-term strategic priorities and sharpen its focus on its core reinsurance and retakaful businesses.

Related Articles

Asia

India's Market Regulator Eyes Depository Receipt Framework for REITs, Public InvITs

India's market regulator has proposed allowing real estate investment trusts (REITs) and publicly listed infrastructure investment trusts (InvITs) to issue depository receipts, according to a consultation paper published on Tuesday.The Securities and Exchange Board of India (SEBI) is proposing an enabling framework for the issuance of depository receipts backed by units of REITs and publicly listed InvITs.The regulator said the instruments would allow foreign investors to trade the securities in foreign currency on permitted international exchanges.SEBI proposed amending the REIT and InvIT regulations to permit such issuances and plans to introduce a detailed framework through a separate circular.Public comments on the consultation paper are invited until Aug. 25.

^BSENifty 50
Asia

Sharetronic Data Technology Adds 150 Million Yuan in Related Party Deals

Sharetronic Data Technology (SHE:300857) said its board approved 150 million yuan in new 2026 related-party transactions with Cheng Uei Precision for Internet of Things smart terminal product sales.This raised the annual total to 350 million yuan, according to a Wednesday filing with the Shenzhen bourse.Shares of the wireless telecommunication equipment manufacturer rose 6% in recent trade.

SHE:300857
Asia

Helens International Forecasts Lower Net Profit in H1

Helens International (SGX:HLS, HKG:9869) expects to book a net profit of up to 16 million yuan, compared with an adjusted net profit of 50.3 million yuan a year earlier.Meanwhile, the company expects a revenue of up to 260 million yuan in the first half of the year, compared to 291.2 million yuan a year earlier, according to a Tuesday filing with the Singapore Exchange.The decrease in revenue is mainly due to a decline in the number of self-operated bars during the period.

HKG:9869SGX:HLS