MBSB will get BNM to not maintain talks with PNB over MIDF acquisition


KUALA LUMPUR: Malaysia Constructing Society Bhd (MBSB) has obtained approval from Financial institution Negara Malaysia (BNM) to begin negotiations for the proposed acquisition of Malaysian Industrial Improvement Finance Bhd (MIDF).

“We’re happy to announce that BNM had, vide its letter dated April 6, acknowledged that it has no objections for MBSB to enter into discussions with Permodalan Nasional Bhd (PNB) to discover the potential of endeavor an acquisition of 100 per cent shareholding in MIDF, which is held by PNB,” it mentioned in a inventory change submitting with Bursa Malaysia.

MBSB mentioned BNM’s approval was legitimate for a interval of six months from the date of its letter.

“Additional particulars on the proposed transaction might be introduced in the end,” it added.

At 12.30 pm, MBSB rose one sen to 61 sen with 3.88 million shares altering arms. – Bernama

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