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KUALA LUMPUR (March 5): MPHB Capital Bhd said it is still in talks with Generali Asia a subsidiary of Italian Generali Group about the sale of its stake in its insurance arm MPI Generali Insurans Bhd.
The little-traded MPHB has stepped into the limelight when its share price hit limit up on Thursday, it shot up 29.6% or 32 sen to a three-year high of RM1.40. The leap in share price has added RM207.35 million to the company’s market capitalisation.
The sudden spike on MPHB’s share price has sparked speculation that the group might be sealing a deal to divest the stake in its insurance arm.
EVENING 5: IHH mulls sale of IMU report
In today’s edition of Evening 5 IHH Healthcare is reportedly exploring a sale of International Medical University, MPHB Capital says it is still in talks to sell its stake in MPI Generali to Generali Asia, and Maybank IB Research believes the worst is over for the property sector.