Berjaya Corporation Berhad (KLSE:BJCORP) (BCorp) is in talks with MCIS Insurance Berhad to acquire the latter's life insurance arm, MCIS Life. The group informed Bursa Malaysia Securities in a filing on January 10, 2023 that it is "in the midst of negotiation for the proposed acquisition of a controlling stake in MCIS Insurance Bhd". Sanlam Limited (JSE:SLM) Ltd. holds a 51% stake in MCIS Life, while Koperasi MCIS Bhd holds another 44.39% equity interest in the life insurance company.

In December 2022, BCorp announced that its founder and major shareholder Tan Sri Vincent Tan Chee Yioun intends to pare his shareholding in the group to not more than 19.6% by end-January 2023. This, the group said, was to facilitate the potential acquisition of a financial institution. According to Section 92 of the Financial Services Act, individuals shall hold no more than a 10% stake in a financial institution.