MAA Group

Re: MAA Group

Postby winston » Wed May 04, 2016 7:22 pm

vested

1. MAA Takaful was sold to Zurich for MYR 525m

2. Special Dividend of 0.35

http://www.bursamalaysia.com/market/lis ... ts/5084901
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Re: MAA Group

Postby winston » Thu May 05, 2016 6:20 am

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MAA sells takaful biz for RM394mil, declares special dividend of 35 sen

KUALA LUMPUR: MAA Group Bhd (MAAG) and Solidarity Group Holding BSC (Closed) are selling their combined 100% interest in MAA Takaful Bhd for RM525mil in cash to Zurich Insurance Co Ltd.

The financial services group told Bursa Malaysia that they had on Wednesday signed a conditional share purchase agreement with the Swiss insurance company.

MAAG, which owns 75% equity interest in MAA Takaful, will receive RM393.75mil for its stake.

MAAG and Solidarity had last week received the approval of the Finance Minister, vide a Bank Negara Malaysia letter dated April 27, for the proposed disposal.

Subsequent to the completion of the proposed disposal, the MAAG board proposes to declare an interim special dividend of 35 sen per MAAG share on an entitlement date to be determined and announced later.

The total amount under the proposed special dividend will be payable out of the disposal consideration.

The proposed special dividend will amount to about RM100.8mil computed based on the current issued and paid-up share capital of MAAG.

MAAG shares closed unchanged on Wednesday at RM1.06, with 1.127 million shares traded.

Source: The Star
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Re: MAA Group

Postby winston » Sat May 07, 2016 7:42 pm

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Stock With Momentum: MAA Group


By Asia Analytica

MAA Group Bhd (-ve)

MAA Group Bhd’s (fundamental: 0/3, valuation: 2.55/3 ) share price rose 14 sen or 13.25% to close at RM1.20 yesterday. Some 6.66 million shares were traded, compared with the 200-day average volume of 383,045 units.

The jump in its share price was fuelled by news that MAA Group would dispose of its 75%-owned subsidiary MAA Takaful Bhd to Zurich Insurance Co Ltd for RM393.75 million cash.

The disposal is expected to be completed by year end. Upon completion of the disposal, the group is proposing to declare an interim special dividend of 35 sen per MAA Group share at an entitlement date to be determined and announced later.

The 35 sen dividend translates into a dividend yield of nearly 29%. However, MAA Group has been highlighted as a “red flag” stock with momentum by our proprietary algorithm based on fundamentals.

MAA Group is principally engaged in family takaful and general takaful businesses, mortgage loan securitisation, general insurance and prepaid card businesses.


Source: The Edge Financial Daily
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Re: MAA Group

Postby winston » Mon May 09, 2016 10:02 am

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MAA’s growing cash pile fails to boost share price

BY SHARIDAN M. ALI

PETALING JAYA: Despite the proposed sale of its Takaful arm and a special dividend of 35 sen per share, MAA Group Bhd’s latest corporate announcements have done little to attract investors’ interest to the stock, as reflected in its share price movements.

On Friday, MAA’s share price ended lower by 5 sen to RM1.15 following the announcement of a conditional share purchase agreement with the purchaser to dispose its stake in MAA Takaful Bhd a day before. The exercise would see its cash pile swell to about RM580mil, or more than RM2.30 per share.

“This could be due to the uncertainties of the direction of the company despite it being cash-rich and debt-free.

“The company has to decide soon on the direction to invest in a new core business. It is probably clouding investors’ interest, who are not able to see a clearer future of the company,” a broker said.

There is also speculation that the company, which has been buying back its shares, could be taken private by its executive chairman Tunku Ya’acob Tunku Abdullah (pic), brokers said.

To be fair, MAA’s share price did move up by 8.5% to the current level of RM1.15 since the announcement on April 26. The company has Bank Negara’s approval to dispose it 75% stake in the takaful insurance arm to Zurich Insurance Company Ltd.

Nevertheless, at RM1.15, the share price is still below the RM1.41 net asset value per share as at Dec 31, 2015.

The company has cash and cash equivalents totalling RM350.51mil as at Dec 31, 2015, while its assets for sale are worth over RM6mil in that period.

The proposed sale of MAA Takaful would also help to grow its coffers. MAA is forecasted to gain gross proceeds of RM393.7mil from the stake sale.

It has earmarked about RM196.7mil from the proceeds for future investments opportunity within 24 months of the completion date of the takaful arm sale.

However, MAA has yet to outline the future direction of the company apart from the proposed special interim dividend of 35 sen per share.

Nevertheless, MAA could also see light at the end of the tunnel from the disposal, as prior to the proposed sale, MAA Group’s activities had been restricted by the Islamic Financial Services Act 2013 (IFSA), due to its Takaful business.

The restrictions under the IFSA had made it difficult for MAA to get out of its PN17 status.

It was classified as a PN17 due to inadequate business and under the central bank’s regulations, MAA can only acquire businesses that are related to the financial services.

“Valuations of assets in the financial services industry has been high so MAA was in a fix,” said an official close to the company.

With the sale of the takaful insurance business, MAA would no longer be restricted to only acquire assets in the financial sector.

On Thursday, the financial services provider had announced it has entered into a conditional share sale purchase agreement to dispose MAA Takaful Bhd to Zurich Insurance Company Ltd for RM525mil.

MAA has a 75% equity interest in the takaful arm while the Solidarity Group Holding BSC’s (Closed) has 25% stake.

“Given the issues that MAA Group has had, there was talk of MAA being taken private to reduce scrutiny,” said a broker. In the past, it was speculated that MAA Group was looking at a proposed rights issue, injection of assets into its business or even consider a joint venture partner. There was also talk that the company could become a target for a reverse takeover.

However, in its notes accompanying its 2015 earnings, MAA Group had said that it would remain listed if it came out of the PN17 list.

“On the PN17 status of the company, it is the board’s intention to maintain the listing status of the company,” it said.

Source: The Star
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Re: MAA Group

Postby winston » Tue Jul 05, 2016 7:46 am

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MAA says 35 sen dividend to go ex on July 21

KUALA LUMPUR: MAA Group Bhd has declared an interim special dividend of 35 sen for each share which will go ex on July 21.

The company, which sold its 75% stake in MAA Takaful Bhd to Zurich Insurance Co Ltd for RM393.7mil, said on Monday the payment would be paid on Aug 5.

MAA had planned to return RM100.76mil, or 35 sen a share, to shareholders as special dividend after the completion of the sale.

It is looking to venture into manufacturing and education sectors to diversify its earnings.

MAA chief executive officer Datuk Muhamad Umar Swift was quoted saying on June 21 the company had earmarked RM290mil from the proceeds of the disposal of the takaful for the ventures.

Source: The Star
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Re: MAA Group

Postby winston » Wed Jul 20, 2016 9:14 pm

vested

High: 0.84
Low: 0.795
Close: 0.84
+/-: No Change
Volume: 543,000

Buyback of 304,000 ( 56%) between 0.81 and 0.84

http://www.bursamalaysia.com/market/lis ... ts/5152685
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Re: MAA Group

Postby winston » Thu Jul 21, 2016 8:01 pm

vested

High: 0.85
Low: 0.83
Close: 0.85
+ 0.01
Volume: 738,800

Buyback of 336,000 ( 45%) between 0.835 and 0.85
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: MAA Group

Postby winston » Fri Jul 22, 2016 11:05 pm

not vested

High: 0.86
Low: 0.84
Close: 0.855
+ 0.005
Volume: 1.16m

Buyback of 606,000 ( 52%) between 0.845 and 0.86
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: MAA Group

Postby winston » Tue Jul 26, 2016 8:48 am

not vested

July 25, 2016

High: 0.87
Low: 0.855
Close: 0.855
+ 0.015
Volume: 821,600

Buyback of 485,000 ( 59%) between 0.86 and 0.87
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston
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Re: MAA Group

Postby winston » Wed Jul 27, 2016 2:16 pm

not vested

July 26, 2016

High: 0.92
Low: 0.87
Close: 0.92
+ 0.04
Volume: 2.378m

Buyback of 714,500 ( 30%) between 0.875 and 0.92
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston
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