MBSB completes MIDF Amanah sale to Tortoise Works

MBSB Bhd, through its MIDF unit, has divested its entire stake in MIDF Amanah Asset Management Bhd (MAAM) to Tortoise Works Sdn Bhd as part of a broader transformation to sharpen its focus on core banking. The sale is not expected to have a material financial impact on MBSB. MAAM is described as having a 34-year track record and will enter its next growth phase under new ownership. The Securities Commission Malaysia approved the divestment on July 9, 2026, with completion on July 23, 2026. Executives from both MBSB and Tortoise Works emphasized preserving MAAM’s heritage while pursuing sustainable growth, disciplined governance, and strong investment outcomes. The reports across the outlets collectively confirm the bank’s portfolio-streamlining move toward its core operations.