Yes! Mikromb has a large shareholding in soon to be listed Elridge

Is the Semantan Estate thingy related to this listed Dutaland?

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MBSB — a growing bank with an appetite for M&A
By theedgemalaysia.com / theedgemalaysia.com
17 Aug 2024, 12:16 pm

KUALA LUMPUR (Aug 17): MBSB Bhd’s (KL:MBSB) merger with Malaysian Industrial Development Finance Bhd just over 10 months ago helped solidify its position as the country’s second-largest stand-alone Islamic bank by assets after Bank Islam Malaysia Bhd (KL:BIMB).

Yet, it remains a relatively small player in a highly competitive and crowded market, where net profit margins have been on the decline — a fact that is not lost on its key shareholders. MBSB is 57.45% owned by the Employees Provident Fund (EPF), and 12.78% owned by Permodalan Nasional Bhd (PNB).

In an exclusive interview, MBSB chairman Datuk Wan Kamaruzaman Wan Ahmad reveals that the shareholders aim to have the group undertake further mergers and acquisitions (M&A) down the road. He does not discount the possibility of it happening within the three-year time frame (2024 to 2026) of MBSB’s strategic business plan.

The plan, code-named Flight26, is ultimately aimed at having the group reach a return on equity (ROE) of 8% by end-2026, from 2.9% last year, on a business-as-usual basis.

“The shareholders are ambitious. I think they still want us to grow,” Wan Kamaruzaman says during The Edge’s interview with him and the bank’s top management — group chief executive officer Mohamed Rafe Mohamed Haneef and group chief financial officer Shahnaz Farouque Jammal Ahmad — recently.

In the meantime, though, MBSB’s unwavering focus is on executing the Flight26 strategy, a key element of which involves the bank chasing Casa (current account and savings accounts) deposits to reduce its high cost of funds.

Ever since last year, MBSB has been making big changes to its management, injecting new blood to start afresh.

In the interview, the group’s top officials talk about their transformation plans and what they need to do to meet the 8% ROE target. They also address the issue of fraudulent deposit withdrawals in Kota Kinabalu amounting to RM24.2 million in June, which they say will not have a significant financial impact on the group.

Get the full story in this week’s issue of The Edge Malaysia.

Read also:
Mohamed Rafe appointed MBSB Bank CEO, confirms The Edge report

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Totally agree.

Caught those pencuris. Now MBSB back to business

Yes...bought more mbsb at 0.80c level

Considered as positive news

Exited all. Same rumour happened few years back.

Support golf but sad that golf related stock cannot bangun

HLIB stays overweight on oil and gas sector, names Dialog, Armada, Velesto as top picks

Sellers are getting lesser. Better buy and keep first

Agree with Dav Yau

See the difference?

Bank staff insider job can be traced. But not for those who lost momey and were scammed by transferring money on their own

Funds can be traced and returned

speakup

Did I hear Bet?
Welcome to Casino De Bursa

Isn't this is all about? Haha...
I have faith in this bet. Just keep

2000k lots is 2000,000 units i mean. Not a lot for most of you. Betting on this

Colleted at 0.04 again. Now holding 2k lots in total .....better be good Sapura

Its a multi bagger. Not selling since 0.60. To me, keep forever

Today is the day of the hearing of the court case. Hope its positive. Any news?

KUALA LUMPUR (June 6): Malaysia Building Society Bhd (MBSB), the holding company of Malaysia’s second-largest standalone Islamic bank by assets, has launched a three-year business plan on Thursday aimed at boosting profitability, as it seeks to expand its financing portfolio to RM50 billion and raise current account savings accounts (CASA) ratio to 20%.

The plan, dubbed Flight26, has four key missions, as stated by MBSB group chief executive officer Rafe Haneef in a statement following its 54th annual general meeting (AGM). The plan includes two other goals: to increase non-funded income to 15% of net revenue and achieve an optimal cost-to-income ratio of 50% by 2026.

“To realise these goals, Flight26 is supported by TP30, comprising 30 transformation programmes. These include 12 programmes in wholesale banking, six in commercial banking, nine in consumer banking and three in digital banking,” Rafe said, adding that these initiatives are expected to substantially improve the group's return on equity.

More to come.

MBSB unveils three-year plan to expand financing portfolio to RM50b, raise CASA ratio to 20%

Better buy now .
Dividend 0.035 will be declared on 6 June

Bought, bought , bought . Dumped by institutional investors.

Just ignore the volatility. A good counter with positive prospects.

Ya...still holding . Bought at 60+

This stock worth keeping till at least 1.50

Don't sell!

June 6 is AGM. Will declare that day

I think he said some Ooi keng chai guy bought big stake. I checked the annual report, yes he is in top shareholders list. Not sure who he is

Better buy now. 5 years later look back at present share price. Laughing all the way to the bank

Net assets from -0.18 reduced to -0.13

Ok dah announced

Later dia announce, besok huat loh

Haha...ya...Speakup...tomorrow Panic attack

Why cutloss 0.58? If dropped till 0.575 then rebound, hati sakit.

The person bought such a big chunk. He wants to guarantee himself that hr got those 4+ mil lots before Raya

Shall continue to hold. More upside to come

Thanks for update Nikicheong

Tomorrow price will bounce up, up

Will keep a bit more

Q1 should be in the black

Steady counter. Buy!

Dear Grandmustah
As long as don't get trapped with such stock.

This is not a junk stock. It is trying to improve its financials and secure more jobs. Just be patient and hold

Haha

From Overseas and Xidelang on top to Fintech, Saudee, focus, AT and many more penny counters , all under same roof...too bad can't post their holdings diagram here

Syndicate control. Beware

Yes will hold on. This year financials will be better. Buy more