A modular building panel assembly which is assembled with other similar panels to form a building structure includes spaced apart inner and outer wall portions joined to one another at opposing first and second end portions. The first end portion includes a first flange portion defining a male connector. The second end portion includes a second flange portion which partially defines a female connector together with the inner wall portion so as to receive the male connector of an adjacent assembly therein. The inner wall portion overlaps the second flange portion of the second end portion in the lateral direction so as to be arranged to receive a common fastener penetrated collectively through the inner wall portion, the second flange portion, and the first flange portion of said adjacent assembly in the assembly building structure.