Kuwait Finance House (KFH) announced yesterday, Wednesday, that it has decided to voluntarily exit the Malaysian market and liquidate its subsidiary there, (KFH-Malaysia).
KFH said in a statement to the Kuwait Stock Exchange that this decision came after "a strategic review... and in line with the international business strategy of KFH Group to focus and expand in the regional markets of the Gulf and the Middle East."
The statement indicated that KFH-Malaysia is evaluating the potential sale of some segments of its business portfolio to prospective buyers after obtaining regulatory approvals, stressing its endeavor to ensure a "smooth and transparent" transition with minimal impact on customers, employees and business partners of the Malaysian unit.
It also stressed that the exit decision has no impact on the group's commitment to its businesses and other markets, indicating that the provisions resulting from the voluntary liquidation do not represent a material impact on the group's financial position.
Kommentare