Malaysia Building Society to shell out $591mln loans

CEO Ahmad Zaini expects the loans to improve lender's liquidity.

Malaysia Building Society Bhd (MBSB) expects to disburse RM2 billion ($590.6 million) worth of loans by year-end, with RM1 billion ($295.3 million) under its personal financing portfolio and another RM1 billion under mortgage, corporate and structured finance assets.

MBSB chief executive officer Ahmad Zaini Othman said the company had disbursed a total of RM1.3 billion ($383.8 million) in loans last year, with RM188 million ($55.5 million) under its personal financing portfolio and RM1.1 billion ($324.4 million) for other products.

All its personal financing loans are provided to government servants and on a case-by-case basis, to members of the public, he said in a report in Business Times.