NST 31 March 2009

Reinsurance firm MNRB Holding Bhd said it may have to set aside up to RM30 million in provisions in the current fiscal year, which ends March 31 2009, to cover losses in equity investments.

President and group chief executive officer Anuar Mohd Hassan said MNRB was forced to make the additional provisions for diminution in the value of investments as it took a hit from the dismal performance of the equity market over the last one year.

For more news- Please login - Member Section - Reference Materials - Newspaper Clipping