HSBC Disposes Shareholding in Malaysian Takaful Unit
26 March 2019
HSBC Holdings plc has ceased to hold any equity interest in the Malaysian takaful business with the completion of the sale by its indirect wholly owned subsidiary, HSBC Insurance (Asia Pacific) Holdings Ltd, of its 49% shareholding in HSBC Amanah Takaful (Malaysia) Bhd to FWD Life Insurance Company (Bermuda) Ltd.
Skrine acted as Malaysian counsel for HSBC in the transaction. The team comprised Partners, Quay Chew Soon and Addy Herg.