FINANCE MINISTRY APPROVES KER1M AS GLC/GLIC INSURANCE ADVISOR

KUALA LUMPUR, Oct 6 (Bernama) -- The 1Malaysia People's Welfare Association
(KER1M) has obtained approval and support from the Finance Ministry (MoF) to
provide insurance-related advisory services to government-linked companies
(GLCs) and government-linked investment companies (GLICs). 
    In a statement today, KER1M said its involvement was to ensure the insurance
flows between insurance firms and GLCs/GLICs were reported in accordance with
the agreement. 
    "This is to enable the government to receive optimum returns from the MoF
Incorporated companies, as well as profit from a more effective and efficient
insurance management," it said. 
    The broadly experienced KER1M consultants would provide their services to
the GLCs and GLICs without any charge, it said. 
    It also said that KER1M consultants would monitor the cost savings together
with the GLCs and GLICs' respective insurance and financial departments to
ensure the insurance policy requirements were abided by. 
    "KER1M has been instructed to contact the GLCs and GLICs to enable the
appointment to be made to enable our insurance consultants to assist them in
their insurance coverage," it added. 

    -- BERNAMA