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Year-end rally in the works?

PETALING JAYA: Some large caps on Bursa Malaysia are poised for active buying this week as major funds such as Permodalan Nasional Bhd (PNB) and the Employees Provident Fund (EPF) head closer to their book closures, dealers said. (17-0)

Solar Management secures RM247mil financing for solar project

(from left) Malaysia Building Society Bhd (MBSB) senior VP Datuk Nor Azam M Taib, president and CEO Datuk Seri Ahmad Zaini Othman, Solar Management (Seremban) Sdn Bhd director Tee Cheng Hua and director Jane Tee at the signing ceremony. (5-0)

Solar Management secures RM248mil financing for solar farm project

KUALA LUMPUR: Solar Management (Seremban) Sdn Bhd has secured a RM248mil financing for its first large-scale solar farm project in Malaysia. “We are the second company to secure financing for the 50MW solar farm project in the country,” said Solar Management director Tee Cheng Hua at a press conference on Tuesday.  The company has signed an agreement with Malaysia Building Society Bhd (MBSB) for the project financing of the solar farm. (5-0)

MBSB shares up on merger proposal

2017-11-07 themalaymailonline
KUALA LUMPUR, Nov 7 — Malaysia Building Society Bhd’s (MBSB) share price rose five sen to RM1.16 this morning after the company proposed to acquire the entire equity interest in Asian Finance Bank Bhd (AFB) for RM644.95 million. (4-0)

Breakfast briefing: Tuesday, November 7

MarketWatch: US stocks climbed to record highs on Monday, helped by optimism about merger activity and as investors bet that a Republican plan to cut corporate taxes would bolster earnings. The DJIA inched up 0.04% to end at 23,548.42, while the S&P 500 gained 0.13% to 2,591.13. The Nasdaq added 0.33% to 6,786.44. - Reuters (129-0)

Third time lucky for MBSB, acquires AFB for RM645mil

“The merged entity is expected to leverage on the strength of MBSB’s business, and the banking licence held by AFB is anticipated to provide a unique opportunity for the merged entity to emerge as a full-fledged Islamic banking franchise in Malaysia,” said MBSB in its filing with Bursa Malaysia yesterday. (5-0)

Deals of the day-Mergers and acquisitions

2017-11-06 reuters
(Adds Malaysia Building Society Bhd, Bayer, German Energy Group Innogy, Chicago Stock Exchange, Twenty-First Century Fox; updates Sprint, Broadcom, ABB) (127-0)

MBSB to acquire Asian Finance Bank for RM645mil

Tags / Keywords: M&A , Banking , Malaysia Building Society Bhd , Asian Finance Bank Bhd

Bank of Tokyo-Mitsubishi UFJ sells entire stake in CIMB Group

2017-09-20 themalaymailonline
woman leaves a CIMB bank branch in Putrajaya in a file picture. CIMB Group, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) have agreed on a merger deal that will create the country's biggest banking group. — Reuters picKUALA LUMPUR, Sept 20 — CIMB Group Holdings Bhd today announced that Mitsubishi UFJ Financial Group’s (MUFG) banking entity, Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU), had sold its entire stake in the CIMB Group via an overnight block trade. (2-0)

MBSB gets Govt’s nod for merger with Asian Finance Bhd

Tags / Keywords: Corporate News , Banking , Malaysia Building Society Bhd , Asian Finance Bank Bhd

Datuk Ishak Ismail ― A leader with people’s interests at heart

2017-07-19 themalaymailonline
During state assembly sittings, the late Datuk Ishak Ismail’s participation in the debate would be much awaited, as he would always interspersed his speech with jokes which sometimes helped to break the boredom of the lengthy meeting. — Reuters picSEREMBAN, July 19 ― Lenggeng Assemblyman Datuk Ishak Ismail, who died of a heart attack last night, was a leader with the people’s interests at heart and despite his serious look, was a fun person who liked to make jokes.

Moody’s sees more competition for deposits

It said such a deal would likely lead to the larger of the two financial institutions, MBSB, emerging as the surviving entity.

MBSB submits application for approvals on merger

Malaysia Building Society Bhd (MBSB) is a step closer to transforming into a full-fledged Islamic banking outfit

Malaysia’s CIMB Group eyes Chinese market with stake sale of stockbroking arm to China Galaxy Securities

2017-06-08 cnbc
Less than a week after RHB Bank and AMMB Holdings received the regulatory go-head to start merger talks, the country's second largest lender CIMB Group said it sold a 50 percent stake in its stockbroking unit to China Galaxy Securities.

Time for Islamic banks to consider merger, says banker

2017-05-28 themalaymailonline
In the aftermath of the 1997-1998 Asian financial crisis, Bank Negara Malaysia took stronger measures by calling a massive consolidation of 58 financial institutions, comprising 21 domestic commercial banks, 25 finance companies and 12 merchant banks, into 10 anchor banking groups. — Picture by Yusof Mat IsaKUALA LUMPUR, May 28  — The merger of Islamic banking units in Malaysia is crucial as the market is becoming overcrowded with the players hungry for growth, outgoing BIMB Holdings Bhd Group Chief Executive Officer Datuk Seri Zukri Samat proposed.