MBSB-Bank Muamalat merger talks aborted

Ahmad Zaini: ‘We should still continue to add to this value regardless of the status that MBSB holds.’

PETALING JAYA: Non-bank financial provider Malaysia Building Society Bhd (MBSB) has failed to strike a merger with Bank Muamalat Malaysia Bhd, its second botched merger attempt in recent times.

MBSB told Bursa Malaysia yesterday that it and the parties involved, namely, DRB-Hicom Bhd and Khazanah Nasional Bhd, have decided to end negotiations for the proposed merger to form the country’s biggest standalone Islamic bank after having failed to agree on the terms.