Another month for MBSB merger

In terms of shareholding in the merged entity, banking sources said the EPF(pic) would emerge as the single-largest shareholder with a stake of between 35% and 40%, with DRB-Hicom likely to hold 20%

PETALING JAYA: Malaysia Building Society Bhd (MBSB) and DRB-Hicom Bhd are seeking a one-month extension from the central bank to conclude negotiations of the proposed merger between the former and Bank Muamalat Malaysia Bhd.

MBSB told Bursa Malaysia yesterday that it has submitted an application to Bank Negara for an extension of time from Dec 30, 2015 to Feb 2, 2016 to conclude negotiations with DRB-Hicom and Khazanah Nasional Bhd on the proposed merger.