Prudential BSN Takaful Berhad (PruBSN) announced the conversion of its composite licence to single licence in accordance with the legislative requirements of the Islamic Financial Services Act 2013 (IFSA).

The conversion of PruBSN’s composite licence to single licence also witnessed the transfer of its general takaful business to Syarikat Takaful Malaysia Am Berhad (STMAB), a wholly-owned subsidiary of Syarikat Takaful Malaysia Keluarga Berhad (STMKB) (formerly known as Syarikat Takaful Malaysia Berhad) pursuant to the approval by Bank Negara Malaysia (BNM) on 29 June nd High Court order on 12 September.

Permodalan Nasional Berhad (PNB) launched two new variable price unit trust funds by Amanah Saham Nasional Berhad (ASNB).

As part of the PNB Group’s aim to expand its unit trust portfolio to meet the evolving needs of investors, ASN Equity 5 and ASN Sara (Mixed Asset Conservative) 2 are launched.

Global compressed air systems specialist KAESER Kompressoren Sdn Bhd, which services the petrochemical, marine and power plant industries, is aggressively pursuing an expansion plan to regionalise activities from its Malaysian base to tap the potential in the Southeast Asian market.

“Our RM42 million facility in Shah Alam which was completed in 2013, is the technical, customisation & final packaging focal point of compressors for all of Southeast Asia & East Asia.