KASIKORNBANKPCL said April 7 that its units Muang Thai Life Assurance PCL and agreed toinvest in joint venture ST-Muang Thai Insurance Co. Ltd. to conduct life andgeneral insurance business in Laos.
Muang Thai Life Assurance agreed to invest 3.20 billion Lao kipin the joint venture. Muang Thai Life Assurance and Muang Thai Insurance will eachhold a 10% stake in the venture. In addition, Muangthai HoldingCo. Ltd. will hold a 10% stake, while ST Group will own a stake of 70%.
As of April 6, US$1was equivalent to 8,114.95 Lao kip.