KUALA LUMPUR: Shares of Pacific & Orient Bhd (P&O) and Jerneh Asia climbed in early trade on Tuesday, Sept 7, on trading interest in the two insurers over their potential sale.
At 9.24am, P&O rose 10 sen to RM1.14 with 4.47 million shares done. Jerneh added five sen to RM3.15 and Jerneh-WA added eight sen to RM1.67. However, PARAMOUNT CORPORATION BHD [] eased seven sen to RM4.10.
The FBM KLCI was up 1.47 points to 1,436.15. Turnover was 50.77 million shares done valued at RM42 million. There were 100 gainers, 88 losers and 148 stocks unchanged.
P&O confirmed on Aug 13 that it received the approval from Bank Negara to begin preliminary negotiations for a proposed disposal of stake in its insurance unit to Prudential Holdings Limited.
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Also in December last year, Jerneh announced the proposed sale of its stake in its insurance subsidiary.
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It had added then that Bank Negara had no objection in principle for it to commence preliminary negotiations with the relevant parties who have expressed interest to acquire 80% of the issued and paid-up share capital of Jerneh Insurance Berhad from Jerneh Asia.
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On May 18 this year, Jerneh Asia said it and Paramount Global Assets Sdn Bhd, a unit of Paramount Corporation Bhd, have submitted an application to Bank Negara to enter into an agreement with a potential buyer.
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The agreement was for the proposed disposal by Jerneh Asia and'' Paramount Global Assets of their respective 80% and 20% equity interests in Jerneh Insurance to the said potential buyer.
At 9.24am, P&O rose 10 sen to RM1.14 with 4.47 million shares done. Jerneh added five sen to RM3.15 and Jerneh-WA added eight sen to RM1.67. However, PARAMOUNT CORPORATION BHD [] eased seven sen to RM4.10.
The FBM KLCI was up 1.47 points to 1,436.15. Turnover was 50.77 million shares done valued at RM42 million. There were 100 gainers, 88 losers and 148 stocks unchanged.
P&O confirmed on Aug 13 that it received the approval from Bank Negara to begin preliminary negotiations for a proposed disposal of stake in its insurance unit to Prudential Holdings Limited.
''
Also in December last year, Jerneh announced the proposed sale of its stake in its insurance subsidiary.
''
It had added then that Bank Negara had no objection in principle for it to commence preliminary negotiations with the relevant parties who have expressed interest to acquire 80% of the issued and paid-up share capital of Jerneh Insurance Berhad from Jerneh Asia.
''
On May 18 this year, Jerneh Asia said it and Paramount Global Assets Sdn Bhd, a unit of Paramount Corporation Bhd, have submitted an application to Bank Negara to enter into an agreement with a potential buyer.
''
The agreement was for the proposed disposal by Jerneh Asia and'' Paramount Global Assets of their respective 80% and 20% equity interests in Jerneh Insurance to the said potential buyer.
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