MBSB Employees To Receive Windfall

Kuala Lumpur, 6 December 2011 – More than 300 Malaysia Building Society Berhad (MBSB) employees will receive a windfall amounting to RM1.3 million as an arrears negotiation (CA) between National Union of Commercial Workers (NUCW) and MBSB.

MBSB Chief Executive Officer, Yang Berbahagia Dato' Ahmad Zaini Othman told media in a press conference today that the salary arrears will be paid before end of this month and other arrears will be paid in January 2012.

According to Ahmad Zaini, "This is the second CA between MBSB and NUCW for the period of three (3) years in force from 2008-2010 upon obtaining the mandate from MBSB Board of Directors recently."

The CA signed today proves that the management has always given prime concern towards its employees' welfare and it is more significant as it offers new benefits to the employees involved, he added.

The benefit offers through this CA is 8% salary adjustment from 1 January 2008 to 31 December 2010. All employees involved will receive arrears for basic salary, overtime and allowances.

The new CA also saw some changes in overtime, compassionate leave, travelling allowances and salary structure.

For more information or enquiries,please contact:

Azlina Mohd Rashad
Head, Coporate Planning & Communication Division
Malaysia Building Society Berhad
Tel: 03- 2096 3003/012-3852240
Fax: 03-20956 4268
E-mail: azlinarashad@mbsb.com.my