The Globe and Mail reports in its Friday edition that Bank of Nova Scotia is in talks to sell its business in Malaysia, where the bank has operated since 1973, to Cathay Financial Holding. The Globe's James Bradshaw writes that Scotiabank has entered exclusive negotiations to sell 100 per cent of its subsidiary, Bank of Nova Scotia Berhad, with two of Taiwan-based Cathay's own subsidiaries, Cathay United Bank and Cathay Life Insurance. The proposed sale, which was disclosed in a filing with the Taiwan Stock Exchange, is still subject to due diligence and approvals from Malaysian and Taiwanese regulators, and the window of exclusivity expires on April 30. At the end of 2016, Scotiabank valued its Malaysian subsidiary, which is based in Kuala Lumpur, at $311-million. Scotiabank closed Thursday at $79.09, down 37 cents on the Toronto Stock Exchange.