Kurnia Group
Kurnia Asia to acquire 80pc of Aegis
NEW STRAITS TIMES - Wednesday, November 8th, 2006
Kurnia Asia Pte Ltd (KAPL), a wholly-owned unit of Kurnia Asia Bhd (KAB), has proposed to acquire an 80 per cent interest in PT Asuransi Aegis Indonesia for RM17.08 million.
KAB told Bursa Malaysia that the purchase would be financed by its internally generated funds.
KAB said the proposed acquisition is part of its long-term business strategy to expand geographically, and is an opportunity for KAB via KAPL to gain immediate access into the general insurance market in Indonesia.
The deal will broaden the revenue and earnings base of KAB group.