Malaysia Building Society : MBSB Moves Forward with MIDF Acquisition

MALAYSIA BUILDING SOCIETY BERHAD (MBSB)

Registration No.197001000172 (9417-K)

MBSB MOVES FORWARD WITH MIDF ACQUISITION

PETALING JAYA, 14 April 2023 - Malaysia Building Society Berhad (MBSB) announced today that MBSB has received notification from Bank Negara Malaysia that the Minister of Finance, Malaysia has granted approval for the proposed acquisition of Malaysian Industrial Development Finance Berhad (MIDF) from Permodalan Nasional Berhad (Proposed Transaction).

The Proposed Transaction will result in a well-capitalised financial services group which is financially resilient to compete in the market with a stronger balance sheet. Further, it will create a universal banking group with end-to-end banking services comprising consumer banking, commercial & SME banking, development finance, corporate banking, investment banking and asset management, servicing a wider customer base that extends beyond MBSB Bank and MIDF's pool of existing customers.

Datuk Nor Azam M. Taib, Group Chief Executive Officer of MBSB said, "With the combined strength and expertise of both MBSB Bank and MIDF, we will be able to expand into new and larger customer segments through tailored financing, structuring and advisory solutions to support the business needs and growth of consumer and corporate clients."

Further details will be announced upon the execution of the share purchase agreement in respect of the Proposed Transaction.

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Malaysia Building Society Berhad (MBSB)

Level 25, Menara MBSB Bank, Lot 12, PJ Sentral, Persiaran Barat, Seksyen 52, 46200 Petaling Jaya, Selangor Website: www.mbsbbank.com

About MBSB

Malaysia Building Society Berhad (MBSB) has been at the forefront of the nation's financial services industry and economic development for more than 70 years. Our story began in the 1950s where we were one of the first financial institutions to extend home financing that helped Malaysians own their homes. MBSB is instrumental in the development of many residential areas, including Petaling Jaya, where the head office is currently located.

MBSB is also the financial holding company of MBSB Bank Berhad (MBSB Bank), a progressive Islamic Bank that offers Shariah compliant banking facilities to retail, SME and corporate customers. For more information, please visit www.mbsb.com.my

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CORPORATE STRUCTURE

MALAYSIA BUILDING SOCIETY BERHAD REGISTRATION NO: 197001000172

FINANCIAL HOLDING COMPANY

MBSB BANK BERHAD REGISTRATION NO: 200501033981

100% OWNED BY MBSB