|Description||ACQUISITION OF 100% SHAREHOLDING IN MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD ("MIDF") WHICH IS HELD BY PERMODALAN NASIONAL BERHAD ("PNB") ("PROPOSED TRANSACTION")|
Reference is made to the Company’s announcements dated 6 April 2022, 22 April 2022, 30 September 2022 and 5 October 2022 in relation to the Proposed Transaction (“Earlier Announcements”).
Unless otherwise stated, all defined terms in this announcement shall carry the same meanings as defined in the Earlier Announcements.
On behalf of the Board, AmInvestment Bank Berhad wishes to announce that the Company had on 21 October 2022 submitted an application to Bank Negara Malaysia (“BNM”), to seek the approvals of BNM and/ or the Ministry of Finance, Malaysia (“MOF”) for the Proposed Transaction to form a universal Islamic banking group.
The Company had also on even date entered into an Implementation Agreement with Permodalan Nasional Berhad (“PNB”) to set up the agreement in respect of the share purchase agreement for the Proposed Transaction to be entered into by MBSB and PNB upon obtaining the approvals of BNM and/or the MOF. The approval of other regulators and shareholders will be sought thereafter.
The Proposed Transaction is strategic as MBSB Bank and MIDF are two distinctively positioned financial services groups with complementary products and services. The universal Islamic banking group is envisaged to offer a wider range of financial solutions to a broader range of customers.
Further announcements shall be made upon receipt of the decision from BNM and/or the MOF.
This announcement is dated 21 October 2022.
Please refer attachment below.
|Company Name||MALAYSIA BUILDING SOCIETY BERHAD|
|Date Announced||21 Oct 2022|
|Category||General Announcement for PLC|