MBSB and MIDF merger has finally approved

Before the announcement, we added at 0.605, C53 and C57. Close to 5 months and the approval finally came through.

Out of a sudden, MBSB is one of the appointed bank for EPF load recently announced. Loan recovery from Bindai Linden. Customized loan MOU to MRT vendors. With higher interest rate income in place. MBSB set to make a big change in 2023.

The question is how much it worth. How diffcult to make a PE of 10 times for the price of RM 1.00. RM 7 billlion market cap need RM 700 mil profit a year?

If the price stay at RM 0.60. I will not have a reason not to add further. I still favour a volunteery GO at RM 1.2 and relist the bank and pair down EPF to 40%. Overweight MBSB from now till M&A complete.

MOF approved M&A


Custom loan for MRT corp. Vendors


EPF loan above 40 years old


Bintai Kinden to repay loan



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