The Company was incorporated as a private limited company in Malaysia under the Companies Ordinances, 1940-1946 on 10 October 1963 (and was converted to a public limited company on 21 October 1963) under the name of Island Hotels & Properties (Malaysia) Limited. Subsequently, its name was changed to Island Hotel & Properties (Malaysia) Berhad and Pacific Development Credit Berhad on 15 April 1966 and 26 May 1976 respectively. The Company assumed its present name, MBf Holdings Berhad ("MBfH") on 20 July 1981. The authorised and paid-up share capital of MBfH is RM1,500,000,000 and RM570,050,084 respectively, comprising ordinary shares of RM1.00 each. The MBfH Group employs over 11,000 employees of which 1,200 employees are in Malaysia. MBfH's principal activities are those of an investment holding company and the provision of management services. MBfH's principal activities in Malaysia are the card and payment services, printing and media booking. Its major overseas operations are through MBf Carpenters Pty Limited ("MBf Carpenters"), a wholly owned subsidiary in Australia, having interests in Fiji and Papua New Guinea.