U Mobile today signed a memorandum of understanding (MOU) with MPI Generali Insurans Berhad (“MPI Generali”) to provide general insurance solutions to U Mobile’s customer base. Through this partnership, the telco’s customers will be able to subscribe, manage and view their general insurance coverage entirely via their mobile phones.
U Mobile’s relationship with MPI Generali started in 2016 when the insurance company provided travel insurance solutions to the telco’s long-term customers via its loyalty programme called ‘U Special’. The response was very encouraging and that led U Mobile to strengthen the partnership with MPI Generali further by extending the services to include other forms of general insurance, and at the same time make the services available to all its customers.
Malaysia’s latest re-domiciling effort, workforce and talent analytics platform – CXS International, known as CXS Analytics Sdn Bhd in Malaysia (CXS) – revealed more details yesterday on its decision for moving its global headquarters to Malaysia and how it will continue to engage its partners around the world. That and what it intends to do once the transition is complete are the main topics at the first CXS Global Partner Conference for Southeast Asia.
Held in the heart of Cyberjaya, the event hosted 19 CXS global partners and other potential clients as they sit in and gain insights on the critical updates from the talent analytics service provider since it uprooted its entire Norwegian operations and moved it to Malaysia.
Further to the shareholders’ approval at the Extraordinary General Meeting convened on 21 June 2017, Daya Materials Berhad (“DMB” or the “Group”) has today completed the disposal of its offshore subsea construction vessel, Siem Daya 1 (“SD1”) via the disposal of the Group’s wholly-owned subsidiary, Daya Global 1 Pte Ltd (“DG1PL”) to Siem OCV Pte Ltd (“Siem OCV”), an indirect wholly-owned subsidiary of Siem Industries Inc for a total consideration of USD$100 million (equivalent to approximately RM418.5 million).
The disposal of SD1 marks the Group’s exit from its offshore subsea business and is a strategic move for DMB to strengthen the financial position of the Group as the disposal will significantly reduce the Group’s debts by approximately 62% or RM406.9 million from RM660.0 million (as at 31 December 2016) to RM253.1 million, resulting in a significant reduction in its gearing level, as well as enhancing its financial position.