Mbsb Appoints Midf Chairman Director As Board Members

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Abdul Rahman Mamat and Yasmin Mahmood were appointed as MBSB non-executive directors effective today.PETALING JAYA: Having acquired Malaysian Industrial Development Finance Bhd (MIDF) for RM1.01 billion in October, Malaysia Building Society Bhd (MBSB) has now roped in MIDF chairman Abdul Rahman Mamat and director Yasmin Mahmood as board members.
Rahman, 71, will serve as an independent and non-executive director while Yasmin, 60, has been appointed as a non-independent and non-executive director.
The appointments are effective today, according to MBSB’s bourse filings.
Rahman had served at the investment, trade and industry ministry in various capacities for some 35 years.
He is currently chairman of several listed companies including Lotte Chemical Titan Holding Bhd, MCE Holdings Bhd, and ECA Integrated Solutions Bhd.
Yasmin, the former CEO of Malaysia Digital Economy Corp (MDEC), is chairman of Skymind Holdings Bhd and also sits on the board of Bintulu Port Holdings Bhd, UMW Holdings Bhd and Citaglobal Bhd.
She was a former chairman at Pos Malaysia Bhd, executive director at YTL Communications Sdn Bhd, and managing director at Microsoft Malaysia Sdn Bhd (2006-2009).
MBSB had completed its acquisition of MIDF from Permodalan Nasional Bhd (PNB) in early October for RM1.01 billion worth of new shares at 96.52 sen per share. This resulted in PNB emerging as a substantial shareholder with a 12.78% stake.
Now a wholly-owned subsidiary of MBSB, MIDF is a financial services provider focussing on three core areas — investment banking, development finance, and asset management, which also includes shariah-compliant financing and wealth products.
MBSB’s shares closed half-a-sen or 0.7% higher at 72 sen, giving it a market capitalisation of RM5.88 billion. - FMT

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