DailySpaceMBSB Berhad
1171 · Main Market主板 · annual reports 2023 to 2025, 537 entries read2023 至 2025 年报，共读出 537 条
The company这家公司
MBSB Berhad (formerly Malaysia Building Society Berhad) completed, in October 2023, the acquisition of the entire equity interest in Malaysian Industrial Development Finance Berhad (MIDF) from Permodalan Nasional Berhad (PNB), reorganising its business units into Consumer Banking, Commercial Banking and Wholesale Banking; investment banking is carried out by MBSB Investment Bank (formerly MIDF Amanah Investment Bank, renamed in 2025).MBSB Berhad（前称 Malaysia Building Society Berhad）于 2023 年 10 月完成向 Permodalan Nasional Berhad（PNB）收购 Malaysian Industrial Development Finance Berhad（MIDF）全部股权，将业务部门重组为消费银行、商业银行及批发银行；投资银行业务由 MBSB Investment Bank（前称 MIDF Amanah Investment Bank，2025 年更名）经营。
Source: annual report 2023, pages 11, 13, 123, 356; annual report 2024, page 22; annual report 2025, pages 49, 158.出处：2023 年年报第 11、13、123、356 页；2024 年年报第 22 页；2025 年年报第 49、158 页。
The Company ceased providing new financing directly. On 31 January 2024, its remaining conventional loans and advances were disposed to Emerald Unity Sdn Bhd (EUSB), and by a scheme of arrangement it transferred its entire shareholding in EUSB to a corporate share trustee for the benefit of a nominated charity, leaving the Company as an investment holding company.公司本身停止直接提供新融资。2024 年 1 月 31 日，公司剩余的传统贷款与垫款脱售予 Emerald Unity Sdn Bhd（EUSB），并通过协议安排将其在 EUSB 的全部股权转予一家企业股份受托人，为一家指定慈善机构持有，使公司成为一家投资控股公司。
Source: annual report 2023, page 165; annual report 2024, pages 152, 206, 320; annual report 2025, pages 100, 147, 158.出处：2023 年年报第 165 页；2024 年年报第 152、206、320 页；2025 年年报第 100、147、158 页。
The group operates predominantly in Malaysia. In 2025, revenue from Consumer Banking was RM1,580.5 million, Commercial Banking was RM760.4 million, Wholesale Banking was RM607.9 million, and MBSB Investment Bank was RM428.8 million, alongside other operations and consolidation eliminations.集团主要在马来西亚运营。2025 年，消费银行营业额为 RM1,580.5 million，商业银行为 RM760.4 million，批发银行为 RM607.9 million，MBSB Investment Bank 为 RM428.8 million，其余为其他业务及合并抵销。
Source: annual report 2023, pages 28, 324; annual report 2024, page 299; annual report 2025, page 225.出处：2023 年年报第 28、324 页；2024 年年报第 299 页；2025 年年报第 225 页。
Employees Provident Fund Board (EPF) is the ultimate holding body, holding 4,649,619,390 shares or 56.549% directly, per the 2025 annual report's register of substantial shareholders. Permodalan Nasional Berhad held 1,032,828,629 shares or 12.561%, deemed held indirectly by Yayasan Pelaburan Bumiputra. Pledged accounts among the thirty largest holders included RHB Nominees (Tempatan) Sdn Bhd for Siao Choon Ping with 24,830,000 shares (0.301%), TA Nominees (Tempatan) Sdn Bhd for Heng Teng Kuang with 11,571,700 shares (0.140%), and Moomoo Nominees (Asing) Sdn Bhd for Zheng Tiandong with 11,289,100 shares (0.137%).雇员公积金局（EPF）为最终控股机构，据 2025 年年报的主要股东名册直接持有 4,649,619,390 股（56.549%）。Permodalan Nasional Berhad 持有 1,032,828,629 股（12.561%），由 Yayasan Pelaburan Bumiputra 视为间接持有。三十大股东中的质押证券账户包括 RHB Nominees (Tempatan) Sdn Bhd 名下 Siao Choon Ping 的质押证券账户 24,830,000 股（0.301%）、TA Nominees (Tempatan) Sdn Bhd 名下 Heng Teng Kuang 的质押证券账户 11,571,700 股（0.140%），以及 Moomoo Nominees (Asing) Sdn Bhd 名下 Zheng Tiandong 的质押证券账户 11,289,100 股（0.137%）。
Source: annual report 2023, page 169; annual report 2024, page 155; annual report 2025, pages 103, 250, 251, 252.出处：2023 年年报第 169 页；2024 年年报第 155 页；2025 年年报第 103、250、251、252 页。
Datuk Wan Kamarulzaman Wan Ahmad was appointed Chairman and Non-Independent Non-Executive Director in 2023 after the demise of Tan Sri Azlan Zainol, and Encik Rafe Haneef was appointed Group Chief Executive Officer. Encik Sazaliza bin Zainuddin resigned as a director on 9 May 2024 and was re-appointed on 1 January 2025. Datin Hoi Lai Ping resigned on 24 January 2024, and Puan Lynette Yeow Su-Yin retired on 21 March 2026. None of the directors in office at the end of 2025 held any shares or options in the Company.Tan Sri Azlan Zainol 逝世后，Datuk Wan Kamarulzaman Wan Ahmad 于 2023 年获委任为主席兼非独立非执行董事，Encik Rafe Haneef 获委任为集团首席执行员。Encik Sazaliza bin Zainuddin 于 2024 年 5 月 9 日辞任董事并在 2025 年 1 月 1 日重新获委任。Datin Hoi Lai Ping 于 2024 年 1 月 24 日辞职，Puan Lynette Yeow Su-Yin 于 2026 年 3 月 21 日退休。截至 2025 年底在任的董事均未持有公司任何股份或期权。
Source: annual report 2023, pages 38, 45, 127, 167; annual report 2024, page 154; annual report 2025, pages 76, 84, 102.出处：2023 年年报第 38、45、127、167 页；2024 年年报第 154 页；2025 年年报第 76、84、102 页。
Major events大事记
Source: annual report 2023, pages 123, 189.出处：2023 年年报第 123、189 页。
Source: annual report 2023, pages 38, 45.出处：2023 年年报第 38、45 页。
Source: annual report 2023, page 347; annual report 2024, pages 206, 320.出处：2023 年年报第 347 页；2024 年年报第 206、320 页。
Source: annual report 2024, pages 31, 239.出处：2024 年年报第 31、239 页。
Source: annual report 2025, pages 49, 158.出处：2025 年年报第 49、158 页。
Source: annual report 2025, page 244.出处：2025 年年报第 244 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, liabilities and equity资产、负债与权益
20232023 年
On 2 October 2023, the Company completed the acquisition of MIDF for RM1,014,295,048.55, satisfied by issuing 1,050,828,629 new shares at RM0.9652 each to PNB, bringing RM722.7 million of net cash from the acquisition. Net cash generated from operating activities was RM1,512.5 million. The review stated RM288 million in dividends declared and paid (2023-70), whereas the statements line shows the dividend paid in 2023 was RM609.6m, and RM288m was the final dividend declared after year end. The review also stated MBSB remained on a profit growth trajectory (2023-79), and directors stated operating results had not been substantially affected by any item of a material and unusual nature (2023-80). In the audited statements, group PBT fell 19.0% (559.7m vs 691.3m), and the one-off MIDF gain of RM354.4m is 72% of group PAT of RM491.8m.2023 年 10 月 2 日，公司以 RM1,014,295,048.55 完成收购 MIDF，向 PNB 以每股 RM0.9652 发行 1,050,828,629 股新股支付，并从收购中获得 RM722.7 million 的现金净额。营运活动所得现金净额为 RM1,512.5 million。回顾陈述宣布并派发 RM288 million 股息（2023-70），而报表行显示 2023 年支付的股息为 RM609.6m，RM288m 为年末后宣布的终期股息。回顾亦陈述 MBSB 保持在盈利增长轨道上（2023-79），董事亦声明营运业绩未受到任何重大及非寻常性质项目的重大影响（2023-80）。然而在经审计报表中，集团税前盈利下跌 19.0%（559.7m 对比 691.3m），且 MIDF 的一次性收益 RM354.4m 占集团税后盈利 RM491.8m 的 72%。
Source: annual report 2023, pages 10, 49, 165, 167, 181, 185, 187, 189.出处：2023 年年报第 10、49、165、167、181、185、187、189 页。
20242024 年
Operating cash flow turned negative with net cash used in operating activities of RM498.2 million. Net cash used in financing activities was RM4,880.2 million, which included RM1,428.3 million for Islamic repurchase agreements, RM1,937.3 million for recourse obligations on financing sold, Sukuk repayments of RM869.4 million (including redemption of the RM650 million Tier-2 Sukuk Wakalah), and dividends paid of RM287.8 million. The review stated treasury rebalancing contributed to the overall improvement in Net Other Income (2024-23), but net other income fell 59.6% (RM393.4m to RM159.1m), as 2023 included the RM354.4m MIDF gain. The review credited strategic initiatives for reducing the Gross Impaired Financing ratio from 7.3% to 5.3% (2024-26), but Note 10 shows RM890m write-offs (vs RM329m in 2023), and adding back write-offs, impaired would be 7.4% of gross loans.营运活动现金流转为净流出，营运活动所用现金净额为 RM498.2 million。融资活动所用现金净额为 RM4,880.2 million，其中包括伊斯兰回购协议支出 RM1,428.3 million、已售融资追索权义务支出 RM1,937.3 million、伊斯兰债券偿还额 RM869.4 million（包括赎回 RM650 million 的二级 Sukuk Wakalah），以及已付股息 RM287.8 million。回顾陈述财资重组促进了其他净收入的整体改善（2024-23），但其他净收入下跌 59.6%（从 RM393.4m 降至 RM159.1m），因 2023 年包含了 RM354.4m 的 MIDF 收购收益。回顾把总减值融资比率从 7.3% 降至 5.3% 归功于策略举措（2024-26），但附注 10 显示冲销额为 RM890m（2023 年为 RM329m），若加回冲销额，减值融资占总贷款的 7.4%。
Source: annual report 2024, pages 30, 31, 78, 172, 208, 239, 247, 300.出处：2024 年年报第 30、31、78、172、208、239、247、300 页。
20252025 年
Operating cash flow saw net cash used in operating activities of RM488.8 million, while deposits from customers and financial institutions fell by RM3,064.6 million. Financing activities generated RM351.6 million, including issuance of recourse obligations on financing sold of RM2,986.6 million offset by repayments of RM1,697.9 million, and dividends paid of RM538.6 million. The review stated a structural shift was propelled by Wholesale advisory depth and investment bank capital-raising mandates (2025-9), while investment and FX gains rose RM83.9m (RM16.7m to RM100.6m), about 69% of the RM120.8m NFI rise, and advisory fees rose only RM4.1m. The review stated RM390 million Profit Before Tax reflected legacy provisioning while the core commercial engine remained clear (2025-20), but net Islamic income fell RM289.2m while ECL rose only RM85.0m, and core income accounted for most of the RM196.3m PBT fall. The review also stated the group delivered stable performance with improved operational efficiency (2025-26), but PBT fell 33.5% (RM390.0m vs RM586.3m) and CIR rose from 54.9% to 57.9%. The review stated financing loss coverage remained 116% excluding fully collateralised exposures (2025-27), whereas total ECL of RM780.6m covers 28.1% of RM2,779.8m impaired financing (compared to 37.0% in 2024), as allowance fell while impaired financing rose 21%. Furthermore, the review described Consumer Banking as delivering steady performance with financing growth (2025-32), but consumer segment profit fell 54.5% (RM391.6m vs RM861.0m) and its gross financing fell 1.7%.营运活动所用现金净额为 RM488.8 million，客户与金融机构存款减少了 RM3,064.6 million。融资活动产生现金 RM351.6 million，包括发行已售融资追索权义务 RM2,986.6 million，部分被偿还款 RM1,697.9 million 抵销，以及已付股息 RM538.6 million。回顾陈述这一结构性转变由批发业务咨询深度和投资银行集资委托所推动（2025-9），但投资与外汇收益增加了 RM83.9m（从 RM16.7m 增至 RM100.6m），约占非利息收入增加额 RM120.8m 的 69%，而咨询费仅增加 RM4.1m。回顾陈述 RM390 million 税前盈利反映了遗留拨备的成本，而核心商业引擎依然明确（2025-20），但伊斯兰业务净收入减少了 RM289.2m，预期信用损失仅增加 RM85.0m，核心收入构成了税前盈利减少 RM196.3m 的主要部分。回顾亦陈述集团表现平稳且营运效率有所提升（2025-26），但税前盈利下跌 33.5%（RM390.0m 对比 RM586.3m），成本收入比由 54.9% 升至 57.9%。回顾陈述扣除全额抵押敞口后融资损失覆盖率保持在 116%（2025-27），而总预期信用损失 RM780.6m 覆盖 RM2,779.8m 减值融资的 28.1%（2024 年为 37.0%），拨备减少的同时减值融资增加了 21%。此外，回顾陈述消费银行在融资增长下交出平稳表现（2025-32），但消费分部盈利下跌 54.5%（RM391.6m 对比 RM861.0m），总融资额减少 1.7%。
Source: annual report 2025, pages 9, 16, 18, 38, 114, 118, 119, 151, 180, 225.出处：2025 年年报第 9、16、18、38、114、118、119、151、180、225 页。
Across the three years三年合看
The Company maintained a dividend policy of paying at least 30% of profit after tax. Dividends paid were RM609.6 million in 2023, RM287.8 million in 2024, and RM538.6 million in 2025. Payout ratios on profit after tax were declared at 90% for 2024 and 95% for 2025. Recourse obligations on financing sold were RM4,031.7 million in 2023, RM2,090.0 million in 2024, and RM3,390.4 million in 2025. Sukuk liabilities stood at RM2,197.4 million in 2023 and RM1,325.7 million in 2024; the RM650 million Tier-2 Sukuk Wakalah 2019/2031 stood at RM648.2 million at end 2025 (RM648.0 million at end 2024).公司保持了至少按税后盈利 30% 派付股息的政策。已付股息在 2023 年为 RM609.6 million，2024 年为 RM287.8 million，2025 年为 RM538.6 million。2024 年宣布的税后盈利派息率为 90%，2025 年为 95%。已售融资的追索权义务在 2023 年为 RM4,031.7 million，2024 年为 RM2,090.0 million，2025 年为 RM3,390.4 million。伊斯兰债券负债在 2023 年为 RM2,197.4 million，2024 年为 RM1,325.7 million；RM650 million 的 2019/2031 二级 Sukuk Wakalah 于 2025 年底为 RM648.2 million（2024 年底为 RM648.0 million）。
Source: annual report 2023, pages 139, 180, 308; annual report 2024, pages 30, 132, 165; annual report 2025, pages 5, 19, 87, 113, 175.出处：2023 年年报第 139、180、308 页；2024 年年报第 30、132、165 页；2025 年年报第 5、19、87、113、175 页。
Still to be spent尚未支出的承诺
Amounts contracted but not provided for were RM58.7 million at end 2023, RM42.9 million at end 2024, and RM26.3 million at end 2025. Total commitments and contingencies were RM7,316.7 million in 2023, RM7,620.6 million in 2024, and RM9,974.7 million in 2025. Across all three years, there were no proceeds raised from any corporate proposal.已签约但未拨备的金额在 2023 年底为 RM58.7 million，2024 年底为 RM42.9 million，2025 年底为 RM26.3 million。承诺与或有负债总额在 2023 年为 RM7,316.7 million，2024 年为 RM7,620.6 million，2025 年为 RM9,974.7 million。三年间均未从任何企业提案中募集资金。
Source: annual report 2023, pages 139, 180, 278; annual report 2024, pages 132, 165, 260; annual report 2025, pages 87, 113, 193.出处：2023 年年报第 139、180、278 页；2024 年年报第 132、165、260 页；2025 年年报第 87、113、193 页。
Four years of figures四年数字
Group figures, in RM thousand (×1,000), as printed in the statements.集团数字，单位千令吉（×1,000），照财务报表所印。
| Group集团 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | |
| Revenue营业额 | 2,694,494 | 2,821,280 | 3,706,807 | 3,435,469 |
| Profit before taxation and zakat税前与天课前盈利 | 691,336 | 559,723 | 586,349 | 390,037 |
| Profit for the year年度盈利 | 460,188 | 491,809 | 406,776 | 279,510 |
| Net cash generated from/(used in) operating activities营运活动所得/（所用）现金净额 | 988,970 | 1,512,509 | (498,185) | (488,765) |
| Purchase of property and equipment购买物业及设备 | (17,115) | (39,840) | (31,744) | (30,103) |
| Dividends paid on ordinary shares已付普通股股息 | 0 | (609,576) | (287,781) | (538,562) |
| Total assets总资产 | 54,948,305 | 66,663,286 | 64,264,014 | 65,197,936 |
| Total liabilities总负债 | 45,989,112 | 56,825,020 | 54,485,934 | 55,338,490 |
| Total equity总权益 | 8,959,193 | 9,838,266 | 9,778,080 | 9,859,446 |
| Cash and cash equivalents at 31 December于 12 月 31 日的现金及现金等价物 | 2,205,982 | 5,699,886 | 1,263,035 | 1,161,667 |
On a computer, hover over a figure for the report and page it is printed on.在电脑上把鼠标移到数字上，可看到它印在哪份年报的哪一页。
Said and done说过的与做到的
| What the reports said年报说要做的 | What later reports show之后年报显示的 | Status状态 |
|---|---|---|
| FLIGHT26 supported by 30 transformation plans across business units (2023)以跨业务部门的 30 项转型计划支持 FLIGHT26（2023 年） | The group rolled out 30 of 38 initiatives in 2024, and rolled out or closed 17 of 18 programmes in 2025 while removing four initiatives after review.集团于 2024 年落实了 38 项举措中的 30 项，2025 年落实或关闭了 18 项计划中的 17 项，同时在审查后剔除了四项举措。 Source: annual report 2023, page 13; annual report 2024, page 28; annual report 2025, page 48.出处：2023 年年报第 13 页；2024 年年报第 28 页；2025 年年报第 48 页。 | Mostly carried out with four removed大部分已执行，四项剔除 |
| Complete 27 post-merger integration initiatives across eight areas (2024)跨八个领域完成 27 项合并后整合举措（2024 年） | Completed 24 initiatives in 2024; in 2025 rebranded MIDF Amanah Investment Bank to MBSB Investment Bank and closed the MIDF Invest platform.2024 年完成 24 项举措；2025 年将 MIDF Amanah Investment Bank 更名为 MBSB Investment Bank 并关闭了 MIDF Invest 平台。 Source: annual report 2024, pages 28, 60; annual report 2025, page 49.出处：2024 年年报第 28、60 页；2025 年年报第 49 页。 | 24 of 27 completed in 2024; remaining three continued into 20252024 年完成 27 项中的 24 项，其余三项延续至 2025 年 |
| Convert fixed rate portfolios to variable rate in 2024 to reduce profit rate risk在 2024 年将固定利率组合转为浮动利率以降低利润率风险 | Variable rate personal financing increased from RM6,358.3 million to RM13,032.9 million in 2024 as restructuring continued.随着重组推进，2024 年浮动利率个人融资从 RM6,358.3 million 增加至 RM13,032.9 million。 Source: annual report 2023, page 14; annual report 2024, pages 30, 208.出处：2023 年年报第 14 页；2024 年年报第 30、208 页。 | In progress进行中 |
| Target to grow financing portfolio to RM50 billion目标将融资组合规模扩大至 RM50 billion | Financing reached RM43 billion in 2024 and RM44 billion in 2025, with gross financing at RM43,929.2 million at end 2025.融资组合在 2024 年达 RM43 billion，2025 年达 RM44 billion，2025 年底总融资为 RM43,929.2 million。 Source: annual report 2023, page 77; annual report 2024, pages 29, 36; annual report 2025, pages 9, 149.出处：2023 年年报第 77 页；2024 年年报第 29、36 页；2025 年年报第 9、149 页。 | Below target未达目标 |
| Achieve a CASA ratio of 20% and reduce cost of funds to 3%实现 20% 的往来及储蓄户头（CASA）比率，并将资金成本降至 3% | CASA ratio rose to 15.5% in 2025 and cost of funds was reduced to 3.4%.2025 年 CASA 比率升至 15.5%，资金成本降至 3.4%。 Source: annual report 2024, page 36; annual report 2025, pages 4, 5, 14.出处：2024 年年报第 36 页；2025 年年报第 4、5、14 页。 | Still in progress仍在推进中 |
| Achieve a non-funded income ratio of 15% from total net revenue实现非利息收入占净总收入 15% 的比率 | Ratio of non-funded income over total net income reached 18.6% in 2025, exceeding the 15% target.2025 年非利息收入占净总收入比率达到 18.6%，超越了 15% 的目标。 Source: annual report 2024, page 36; annual report 2025, page 9.出处：2024 年年报第 36 页；2025 年年报第 9 页。 | Surpassed已超越 |
What the reports leave open年报留下待看的事
- Whether the proposed disposal of the entire equity interest in MIDF Amanah Asset Management Berhad receives approval from the Securities Commission Malaysia.拟脱售 MIDF Amanah Asset Management Berhad 全部股权的交易是否获得马来西亚证券监督委员会批准。
Source: annual report 2025, page 244.出处：2025 年年报第 244 页。
- Implementation of the Long-Term Incentive Plan approved by shareholders on 20 January 2026, which makes available up to 10% of total issued shares.股东于 2026 年 1 月 20 日批准的长期激励计划（LTIP）的执行进展，该计划可提供上限为已发行股份总数 10% 的股份。
Source: annual report 2025, page 244.出处：2025 年年报第 244 页。
- Resolution of legacy impaired financing, with gross impaired financing ratio standing at 6.33% and impaired financing at RM2,779.8 million at end 2025 against expected credit loss allowance of RM780.6 million.遗留减值融资的化解进展，2025 年底总减值融资比率为 6.33%，减值融资达 RM2,779.8 million，而预期信用损失拨备为 RM780.6 million。
Source: annual report 2025, pages 18, 149, 151, 152.出处：2025 年年报第 18、149、151、152 页。
- Whether the group meets its FLIGHT26 targets of a 20% CASA ratio and a financing portfolio of RM50 billion, compared to 15.5% and RM44 billion recorded in 2025.集团能否实现 FLIGHT26 设定的 20% CASA 比率和 RM50 billion 融资组合目标，而 2025 年记录的水平分别为 15.5% 和 RM44 billion。
Source: annual report 2025, pages 4, 5, 9, 14.出处：2025 年年报第 4、5、9、14 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-11-11.内容为公司年报所印的事实，并注明页码；不评级，不构成投资建议。生成日期 2026-11-11。