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