Mutiara Goodyear Development Berhad came into being as a result of a joint partnership between Goodyear Management Group and Harun Faudzar Group, following a series of acquisitions and joint ventures. The history began with the corporatization of Pembangunan Bandar Mutiara Sdn Bhd (PBMSB), which served to create the foundation of present day Mutiara as well as act as a springboard for future expansion. Back in the 1990s, PBMSB targeted MIT Holdings Berhad as a potential take-over for its property development activities. In 1996, a restructuring of the company saw to it that PBMSB's property projects were injected into MIT Holdings Berhad and became part of its business activities. In May 2001, the Securities Commission approved the final restructuring proposal and transfer of the listing status of MIT Holdings Berhad from the Bumiputera Stock Exchange to the Main Board of Kuala Lumpur Stock Exchange (KLSE). Subsequently, the company changed its name to Mutiara Goodyear Development Berhad and was listed on the Kuala Lumpur Stock Exchange (now Bursa Malaysia) on 23 May 2002.