AMMB Holdings to buy Kurnia Insurans

But it is yet to have the central bank and finance ministry's approval for the bid.

According to Reuters, Malaysian lender AMMB Holdings Bhd and Kurnia Asia have sought central bank and finance ministry approval for AMMB's bid to buy Kurnia Insurans (Malaysia) Bhd.

Reuters noted that the deal is for Kurnia Asia's 100 percent equity stake in this general insurance unit.

View the full report here.