MPHB Capital managing director, Tan Sri Dato' Surin Upatkoon, said, 'By partnering one of the world's largest insurance companies, MPIB is better positioned to continue offering its customers the assurance of reliability.
The firm has announced an agreement with Multi-Purpose Capital Holdings Berhad - a subsidiary of the Malaysian group headed by
MPHB Capital - to acquire a 49 percent stake in its P&C insurance subsidiary.
Malaysia-based
MPHB Capital is looking to sell its stake in an insurance unit.