MRCP 1651

MRCB has proposed a renounceable rights issue to raise up to RM566 million. The rights shares could be issued at RM1.172 each, a discount of about 9.8% to the theoretical ex-rights price of MRCB shares of RM1.30,based on the three-month weighted average market price of about RM1.36.

The basis for the proposed rights issue is one rights share for every two existing MRCB shares held at the entitlement date.

MBSB's net profit for the third quarter (3Q) ended Sept 30, 2009 jumped 565% to RM52.68 million from RM7.92 million a year ago due to higher net interest income, the recovery of a major account and lower allowance for loans and financing losses. source from The EDge 6 Nov 09