Malaysia Building Society Berhad completed the acquisition of Asian Finance Bank Berhad from Qatar Islamic Bank (Q.P.S.C.), RUSD Investment Bank Inc., Tadhamon International Islamic Bank, and Global MENA Financial Assets Limited, managed by Global Capital Management Ltd.
The transaction is subject to approval of shareholders of Malaysia Building Society Berhad, Qatar Islamic Bank (Q.P.S.C.) (DSM:QIBK), RUSD Investment Bank Inc., Tadhamon International Islamic Bank, and Global MENA Financial Assets Limited and approval of Bursa Malaysia Securities Berhad for the listing of and quotation for the consideration shares. The transaction was approved by the Ministry of Finance and Bank Negara Malaysia on August 18, 2017. On December 28, 2017, Bursa Malaysia Securities Berhad approved the listing and quotation for the consideration shares of Malaysia Building Society Berhad. As of January 22, 2018, holders of the Malaysia Building Society Berhad's Structured Covered Sukuk have approved the transaction. As of January 23, 2018, shareholders of Malaysia Building Society Berhad have approved the transaction and the transaction become unconditional. The transaction is expected to complete in the first quarter of 2018. The transaction is not expected to have a material effect on the earnings and EPS of Malaysia Building Society Berhad for the year ending December 2017. RHB Investment Bank Berhad and AmInvestment Bank Berhad acted as joint financial advisors and Tricor Investor & Issuing House Services Sdn Bhd acted as registrar for Malaysia Building Society Berhad.
Malaysia Building Society Berhad (KLSE:MBSB) completed the acquisition of Asian Finance Bank Berhad from Qatar Islamic Bank (Q.P.S.C.) (DSM:QIBK), RUSD Investment Bank Inc., Tadhamon International Islamic Bank, and Global MENA Financial Assets Limited, managed by Global Capital Management Ltd. on February 7, 2018. As on February 28, 2018, Malaysia Building Society Berhad has obtained sanction of the High Court for the transaction. As on March 2, 2018, Malaysia Building Society Berhad extracted and lodged the sealed order in relation to the Scheme with the Companies Commission of Malaysia and the scheme has taken effective.