MBSB’s purchase of MIDF gets the nod

PETALING JAYA: Malaysia Building Society Bhd (MBSB) has received the approval from the Minister of Finance for its proposed acquisition of Malaysian Industrial Development Finance Bhd (MIDF) from Permodalan Nasional Bhd (PNB).

In a statement, MBSB stated the transaction will enable it to become a well-capitalised financial services group that is resilient to compete in the market with a stronger balance sheet.