KUALA LUMPUR (Aug 21): Malaysia Building Society Bhd (MBSB) rose 3.94% in active trade this morning after it obtained a written approval from the Finance Minister to go ahead with its proposed acquisition of a 100% stake in Asian Finance Bank Bhd (AFB).
At 9.25am, MBSB rose 5 sen to RM1.32 with 11.58 million shares done.
MBSB said it will make an announcement when it inks the definitive agreement.
The proposed merger will create Malaysia’s second largest stand-alone Islamic bank, after Bank Islam Malaysia Bhd. — theedgemarkets.com
TOP PICKS BY EDGEPROP
Apartment Pusat Komersil Seksyen 7 Shah Alam
Shah Alam, Selangor
Lakefront Residence in the heart of PJ-HouzKey
Petaling Jaya, Selangor
Taman Kajang Sentral (TKS Business Centre)