MBSB

A former vice-president of MBSB was fined RM22,000 in lieu of six months jail by the Sessions Court for failing to report to the MACC a RM3,000 bribe she received five years ago.

This is because the merger, according to Moody's, would enable MBSB to gain access to cheaper source of funds and enables them to broaden their revenue stream.

The AFB merger is the third attempt that MBSB is making in less than three years.

Potential M&A candidates include the Malaysia Building Society Bhd (MBSB), and Bank Muamalat Malaysia Bhd (Muamalat), it said in a statement today.

Malaysia Building Society Bhd (MBSB)will begin merger talks with Asian Finance Bank Bhd (AFB) in its third attempt in about two years to convert into a full-fledged Islamic lender.

The merger negotiations between Bank Muamalat and Malaysia Building Society Bhd (MBSB) is going on very well and smoothly, says Bank Muamalat Chairman Tan Sri Dr Munir Majid.

Negotiations on the merger between Bank Muamalat and Malaysia Building Society Bhd (MBSB) are still ongoing, said Khazanah Nasional Bhd Managing Director, Tan Sri Azman Mokhtar.

MBSB's pre-tax profit for the second quarter ended June 30, 2015 declined to RM129.27 million from RM310.89 million in the same quarter of last year.

MBSB has not receive the green light from its shareholders to talk to any financial institution on a potential merger and acquisition.

RHB Capital Bhd's shares rose eight sen to RM7.73 with 844,700 shares changing hands.

There will be other chances for CIMB to merge in the future once the bank found a good opportunity, says Khazanah managing director, Azman Mokhtar.

The decision came about after considering the current economic conditions, the parties said in a joint statement today.

CIMB Group Holdings Bhd, Malaysia Building Society Bhd and RHB Capital Bhd clarifies that they are still in discussions with respect to the proposed mega merger.

The mega bank merger of CIMB Group Holdings Bhd, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) will likely start in the first quarter of 2015.

CIMB, RHB Capital and MBSB said an application has been made to Bank Negara Malaysia to seek approval for its proposed three-way merger.

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