KUALA LUMPUR: DRB-HICOM Bhd's wholly-owned subsidiary,
Gadek (Malaysia) Bhd and United Overseas Bank (Malaysia) Bhd (UOB) have received approval from Bank Negara Malaysia (BNM) to commence preliminary negotiations with certain parties in relation to the possible disposal of their equity interests in Uni.Asia General Insurance Bhd (UAG) and Uni.Asia Life Assurance
Bhd (UAL).

Gadek, UOB and the relevant parties would be required to obtain the prior approval of the Minister of Finance, with the recommendation of BNM, pursuant to the Insurance Act, 1996 before entering into any agreement to effect the above
disposal, said CIMB Investment Bank Bhd in a filing with Bursa Malaysia, on behalf of DRB-HICOM.

CIMB said Gadek has received expressions of interest from certain parties to explore the possibility of acquiring an equity interest in UAG and UAL.

UAG and UAL are respectively 68.1 per cent and 100.0 per cent owned by Uni.Asia Capital Sdn Bhd (UAC), which is in turn a 51.0 per cent owned subsidiary of Gadek.

The remaining 49.0 per cent stake in UAC is held by UOB. -- BERNAMA
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