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However, the approval by BNM is only for AHB to initiate discussions and negotiations with CIMBG and should not be deemed as the final approval. Under Section 67 of the Insurance Act 1996 (Act), BNM’s approval is required before entering into any agreement to acquire or dispose of equity interest in any licensees under the Act.

The Board expects negotiations to commence soon and further announcement will be made to Bursa Malaysia Securities Berhad on any development at the appropriate time.

This announcement is dated 16 October 2007.