MBSB to dispose of non-financial units, non-performing conventional loans to SPV
After the transfer, MBSB will dispose of its five subsidiaries to Emerald Unity, namely MBSB Development Sdn Bhd, Prudent Legacy Sdn Bhd (in liquidation), MBSB Properties Sdn Bhd, 88 Legacy Sdn Bhd, and Definite Pure Sdn Bhd for RM2 each.
MBSB’s 2Q net profit contracts 42% to RM84 mil as other operating expenses rose while net income dropped
On the other hand, revenue rose 8.
MBSB aiming for higher ROE in 2023 despite margin pressure
MBSB is in the midst of acquiring MIDF via a RM1.
MBSB earnings up 27.3% on lower expected credit losses and opex
Commenting on the results, MBSB group chief executive officer Datuk Nor Azam M Taib said, “The improvement is driven by strong fundamentals based on our business plan despite the challenging economic environment.
Prominent figure Azlan Zainol passes away, aged 72
MBSB, in a statement, said Azlan helmed the group since March 2021, bringing with him over 30 years of banking experience with a strong background in accountancy.
MBSB swings to the black in 3Q amid lower expected credit losses on loans
Better earnings for the quarter were attributed to lower expected credit losses on loans, financing and advances as well as other impairments, which were down by 59% from RM249 million in 3QFY2021 to RM103.
MBSB 2Q net profit down 64% on higher opex, net impairment allowance
MBSB said it recorded a higher opex of RM136.
MBSB's CEO Ahmad Zaini dies of Covid-19
KUALA LUMPUR (Aug 15): Malaysia Building Society Bhd's (MBSB) group president and chief executive officer (CEO) Datuk Seri Ahmad Zaini Othman has passed away after battling with Covid-19 complications.