Response to Singapore Straits Times Article entitled "Foreign Insurers in Malaysia Resisting Divestment: Sources"Release Date: 26 Mar 2018
We refer to the article entitled “Foreign Insurers in Malaysia Resisting Divestment: Sources ” published in Singapore Straits Times on 26 March 2018.
Foreign shareholders of insurers were allowed to operate in Malaysia based on their promise and commitment including maintaining specified levels of domestic shareholding within agreed timelines.
Without these promises and commitments, they would not have been allowed to operate in Malaysia. Bank Negara Malaysia expects these insurers to honour their promises and commitments.
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