MBSB gets BNM’s nod to start discussion with PNB to acquire MIDF

by PRIYA VASU / pic by HUSSEIN SHAHARUDDIN

MALAYSIA Building Society Bhd (MBSB) has received approval from Bank Negara Malaysia to enter negotiation with Permodalan Nasional Bhd (PNB) to possibly acquire Malaysian Industrial Development Finance Berhad (MIDF).

PNB owns 100% shareholding in MIDF.

In a filing to the stock exchange today, MBSB further said that BNM’s approval is valid for a period of 6 months from the date of its letter dated 6 April 2022.

Further details on the Proposed Transaction will be announced in due course.

MBSB shares traded at 62.5 sen at press time.