Allianz May Fall; Ends Takaful Ikhlas Stake Talks

Allianz Malaysia (1163.KU) may fall below MYR4.95 after the company says it's ceasing talks with MNRB Holdings (6459.KU) on the acquisition of a stake in its Islamic insurance unit. Allianz says both parties "mutually agreed to end the negotiation" on Allianz buying a stake in MNRB unit Takaful Ikhlas Sdn. Bhd. A local dealer says Allianz "appears to be on the losing side" as it would be "missing the action" of Malaysia's fast-growing takaful market. He tips support at MYR4.80. The stock ends Wednesday up 0.2% at MYR5.01.