{"id":14343,"date":"2012-09-06T15:51:06","date_gmt":"2012-09-06T13:51:06","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/update-1-s-africas-sanlam-eyes-malaysia-acquisition\/"},"modified":"2012-09-06T15:51:06","modified_gmt":"2012-09-06T13:51:06","slug":"update-1-s-africas-sanlam-eyes-malaysia-acquisition","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-s-africas-sanlam-eyes-malaysia-acquisition\/","title":{"rendered":"UPDATE 1-S.Africa’s Sanlam eyes Malaysia acquisition"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Holds $475 mln in surplus capital<\/span><\/p>\n

<\/span><\/p>\n

* To raise stakes in Africa, India operations<\/p>\n

(Adds details, background)<\/p>\n

<\/span><\/p>\n

JOHANNESBURG, Sept 6<\/span> (Reuters) – South African insurer
\nSanlam is in talks for an acquisition in Malaysia,
\nwhere it could use some of its 4 billion rand in surplus
\ncapital, its chief executive said on Thursday.<\/p>\n

<\/span><\/p>\n

Sanlam also aims to use the money to increase its stakes in
\nexisting businesses in Africa and India, Johan van Zyl told
\nReuters in an interview.<\/p>\n

<\/span><\/p>\n

“We have around 4 billion rand ($475.83 million) of surplus
\ncapital and we’ve always been cautious so we won’t spend all of
\nit,” van Zyl said.<\/p>\n

<\/span><\/p>\n

“Our key aim is to work with our partners and get a bigger
\nstake. We know the businesses, we already have management there
\nand that’s the focus for the next year.”<\/p>\n

<\/span><\/p>\n

Sanlam is considering a stake of up to 49 percent in
\nMalaysian insurer Pacific Orient Bhd’s (PO), a
\nMalaysian weekly reported last month.<\/p>\n

<\/span><\/p>\n

Van Zyl declined a comment on the report and said Sanlam was
\nin talks with several players in Malaysia and was also
\ninterested in Indonesia.<\/p>\n

<\/span><\/p>\n

Sanlam would like to increase its shareholding in the Indian
\nbusinesses from the current 26 percent to more than 30 percent,
\nhe said.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Holds $475 mln in surplus capital * To raise stakes in Africa, India operations (Adds details, background) JOHANNESBURG, Sept 6 (Reuters) – South African insurer Sanlam is in talks for an acquisition in Malaysia, where it could use some of its 4 billion rand in surplus capital, its chief executive said on Thursday. Sanlam […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14343","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14343"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14343\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}