MBSB’s takeover of MIDF ‘fair, reasonable’

PETALING JAYA: Shareholders of Malaysia Building Society Bhd (MBSB) are recommended to approve the RM1.01bil takeover of Malaysian Industrial Development Finance Bhd (MIDF).

In an independent advice letter, Kenanga Investment Bank (IB) said the proposed acquisition of 100% equity interest in MIDF from Permodalan Nasional Bhd (PNB) is “fair, reasonable and not detrimental” to the interests of MBSB’s shareholders.