MAA Group

MAA Group

Postby winston » Tue Nov 18, 2014 12:01 pm

not vested

Stocks With Likelihood Of Corporate Exercise: MAA Holdings

MAA Group Bhd (MAAG) is principally engaged in the Takaful, general Insurance and prepaid card businesses. In September 2011, the company sold its interest in its then core business, MAA Assurance, to Zurich Insurance Group Ltd, resulting in MAAG being a cash-rich company, but also one classified under Practice Note 17 (PN17) of the listing requirements for ceasing its major business.

To cease its classification of PN17, MAAG would need to submit a regularisation plan. Options open to the company include investing more of its large cash pile to grow the current operations, acquiring new businesses or assets, or returning excess cash to shareholders.

MAAG is currently trading well below its net cash backing, making it a potentially attractive M&A or dividend play. The company has net cash of RM317.87 million as at 30 June 2014, some 65% more than its current market capitalisation of RM192.77 million, based on its last traded stock price of RM0.64.

The stock is also trading at a price-to-book of just 0.45 times, with cash and cash equivalents accounting for 61% of total assets. On its current smaller scale of operations, MAAG posted net profit of RM2 million on revenue of RM335.7 million for the first half of 2014.

In the wake of Melewar Industrial Group Berhad ( Financial Dashboard)’s disposal of Melewar Steel Tube Sdn Bhd to Mycron Steel Berhad ( Financial Dashboard), both members of the Melewar Group, the question is if yet another member of Melewar Group — MAAG — would be conducting a corporate exercise soon.

http://www.theedgemarkets.com/my/articl ... a-holdings
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Re: MAA Group

Postby winston » Thu Nov 20, 2014 6:51 am

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MAA Group Bhd saw a 61% drop in its net profit to RM9.1 million for its third quarter ended Sept 30, 2014, from RM23 million in the year before, despite posting higher revenue for the quarter.

According to its announcement to Bursa, MAA’s revenue rose 13% to RM187.9 million, from RM166.9 million in the same quarter the year before.

For 9MFY14, the group made net profit of RM11 million, compared to a net loss of RM60,000 in 9MFY13, while cumulative revenue rose to RM523.7 million from RM457.4 million.

MAA closed at 65 sen, up 1.56%, giving it a market capitalisation of RM197.3 million.


Source: The Edge
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Re: MAA Group

Postby winston » Fri Dec 26, 2014 7:06 pm

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The Company had, on 21 October 2014, announced that Bursa Securities had vide its letter dated 21 October 2014 granted an extension of time of up to 31 January 2015 to submit the Plan to Bursa Securities subject to the Requisite Announcement being made by 31 December 2014.

In this respect, the Board of Directors of the Company wishes to inform that the Company is in the process of formulating the Plan to regularise its financial condition and will submit it to Bursa Securities for approval.

This announcement is dated 1 December 2014.
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Re: MAA Group

Postby winston » Wed Jun 17, 2015 8:23 am

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MAA Group Bhd obtained the greenlight from Bank Negara Malaysia (BNM) to commence negotiation to sell its 75% equity in takaful unit, MAA Takaful Bhd, to Zurich Insurance Company Ltd.

Both MAA Group (fundamental: 0.9; valuation: 2.55) and Zurich would be required to obtain the prior approval of the Minister of Finance, with the recommendation of BNM before entering into a final agreement.

Source: The Edge
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Re: MAA Group

Postby winston » Mon Sep 07, 2015 5:52 pm

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The Board of Directors of MAAG is pleased to propose for payment of second interim dividend of 3 sen per share under the Single-Tier Dividend System in respect of the financial year ending 31 December 2015 to be payable on 9 October 2015 to Depositors Registered in the Records of Depositors at the closure of business on 23 September 2015.
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Re: MAA Group

Postby winston » Mon Sep 21, 2015 1:03 pm

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MAA - Notice of Book Closure

MAA GROUP BERHAD

Second Interim Dividend of 3 sen per share under the Single-Tier System in respect of the financial year ending 31 December 2015.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex – Dividend” as from: 23 Sep 2015
2) The last date of lodgment : 28 Sep 2015
3) Date Payable : 9 Oct 2015
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Re: MAA Group

Postby winston » Wed Nov 18, 2015 11:26 am

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Big buyer of MAA this morning.

Buy Order at 0.80 before market opened.

400,000 done at 0.79 at open.

Why did he buy at a premium of 0.025 to the closing price of 0.775 ? Does he know something that you dont ?

And why is there no follow-through when the price is now at only 0.78 ?
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Re: MAA Group

Postby winston » Mon Nov 30, 2015 8:26 pm

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Proposed Disposal of 100% Equity Interest in MAA Takaful Berhad ("MAAT") ("Proposed Disposal")

We refer to the announcement made by the Company on 16 June 2015 whereby Bank Negara Malaysia (“BNM”) had vide its letter dated 15 June 2015 stated that it has no objection in principle for MAAG and Zurich Insurance Company Ltd (“Zurich”) to commence negotiations for the Proposed Disposal.

The Board of Directors of MAAG (“Board”) wishes to announce that the Company, Solidarity Group Holding BSC (Closed) (“Solidarity”) and Zurich have jointly submitted an application to BNM on 30 November 2015 for approval of the Minister of Finance pursuant to the Islamic Financial Services Act 2013 to enter into an agreement with Zurich for the Proposed Disposal by the Company and Solidarity of their respective 75% and 25% equity interest held in MAAT.

The Company will make necessary announcements as and when there are material developments on the Proposed Disposal.

http://www.bursamalaysia.com/market/lis ... ts/4936469
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Re: MAA Group

Postby winston » Tue Dec 01, 2015 5:51 am

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MAA agrees to sell stake in takaful arm to Zurich Insurance

KUALA LUMPUR: MAA Group Bhd (MAAG) has submitted a joint application with Solidarity Group Holdings BSC and Zurich Insurance Co Ltd to get Bank Negara’s approval for the sale of MAA Takaful Bhd.

In a filing with Bursa Malaysia on Monday, the financial services group said it and Solidarity proposed to sell their stakes in MAA Takaful - 75% and 25% respectively - to the Swiss insurance firm.

MAAG said the application was for the Finance Minister’s approval pursuant to the Islamic Financial Services Act 2013.

On June 15, Bank Negara had said it had no objection to MAAG starting negotiations with Zurich for the proposed disposal.

However, it added that the approval should not be construed as an approval for the proposed disposal. MAAG and Zurich would still be required to get the prior approval of the Finance Minister, with the recommendation of the central bank, before entering any agreement to effect the disposal.

Solidarity Group was not mentioned in the earlier announcement.

MAA Takaful’s family takaful fund recorded a loss before taxation (LBT) of RM11.3mil for the year ended Dec 31, 2014 while its general takaful fund incurred a LBT of RM0.6mil, according to MAAG’s latest annual report.

MAAG shed half a sen to 76.5 sen at Monday’s close.

Source: The Star
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Re: MAA Group

Postby winston » Wed Dec 16, 2015 7:04 am

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High: 0.965
Low: 0.90
Close: 0.955
Volume: 2.43m

Buyback: 100,000 shares
http://www.bursamalaysia.com/market/lis ... ts/4951137
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