Nov 09 2006
Today’s financial news reported that MBSB is up for sale ( the stock shares were up about 15% yesterday ), being one of two public listed companies in which the Employees Provident Fund (EPF) has a major stake (the other being RHB – Rashid Hussain Berhad).Sources said EPF would want to move back to being an investor and not as manager in MBSB. MBSB’s core business is in taking deposits and giving loans, with a focus on retail loans. It is rumoured that Pos Malaysia & Services Holdings Bhd is keen to acquire a controlling stake in MBSB.
Pos Malaysia which has over 660 post offices might want to copy the business model of Germany’s Deutsche Post (a successful combination of DHL & Deutsche Postbank) which provide logistic & financial services.
EPF would not sell its stake at less than MBSB’s net tangible assets of RM1.15 a share and suitors need to cough up more than that. With the stock price currently floating at below RM 1.00, there could be some money to be made provided it is serious about the sale.
Detail News at Star Business
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November 9th, 2006 by financetwitter
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