MAA Group

Re: MAA Group

Postby winston » Sat Sep 21, 2019 9:44 am

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The Board of Directors of MAAG, wishes to announce that on 20 September 2019, Edumaax Sdn Bhd (formerly known as Indopelangi Sdn Bhd), a wholly owned subsidiary of MAA Corporation Sdn Bhd, which in turn is a wholly owned subsidiary of the Company had entered into a Share Acquisition Agreement (“SAA”) with Scholastic Ventures Sdn Bhd and PAC Edu KL Sdn Bhd, for the acquisition of 1,147,059 shares representing 90% equity interest in Scholastic IB International Sdn Bhd for a total purchase consideration of RM27,000,000.00 (Ringgit Malaysia: Twenty Seven Million Only) subject to further terms and conditions stipulated in the SAA.

Source: Bursa

http://www.bursamalaysia.com/market/lis ... ts/6288405
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Re: MAA Group

Postby winston » Wed Nov 27, 2019 9:57 pm

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Revenue: +7%
Losses RM -3.3m vs RM -2.2m
RNAV RM 1.89

http://www.bursamalaysia.com/market/lis ... ts/6353013
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Re: MAA Group

Postby winston » Fri Jun 05, 2020 8:30 am

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MAA Group seeks shareholders' nod to vary utilisation of proceeds from MAAT's disposal

KUALA LUMPUR (June 4): MAA Group Bhd (MAAG) is seeking shareholders’ approval for the variation of RM91.87 million to the utilisation of proceeds arising from the disposal of MAA Takaful Bhd (MAAT), which had been initially earmarked for future investment opportunity(ies)/prospective business(es).

The approval would be proposed at the forthcoming extraordinary general meeting (EGM) to be convened at a later date, it said in a filing with Bursa Malaysia today.

MAAG disposed of its 75 percent equity in MAAT to Zurich Insurance Company Ltd (Zurich) for RM393.75 million, with the exercise completed on June 30, 2016.

Due to certain downward adjustments in accordance with the terms and conditions of the sale purchase agreement, the actual disposal proceeds arising from the disposal was slashed to RM364.4 million.

On June 5, 2018, the company’s shareholders had, at an EGM, approved a variation to the utilisation of the disposal proceeds, where the revised utilisation of RM71.88 million, originally earmarked for future investment opportunity(ies)/prospective new business(es) to be acquired will be used for the company’s working capital, to fund its share buy-back exercise and for payment of dividends to shareholders.

“As at the date of this announcement, the company has yet to fully utilise RM162 million of the disposal proceeds, which had been earmarked for future investment opportunity(ies)/prospective new business(es) to be acquired.

“As such, the board wishes to further vary the utilisation of proceeds,” MAAG said.

It said the variation to the utilisation of proceeds for additional working capital is mainly to support the existing businesses of the group - for its credit division (involving factoring and money lending) and its education businesses.

The additional working capital will also enable the group to further expand its factoring and money lending businesses without any disruption in funding.

MAAG proposes to allocate an additional RM53.58 million, that is RM29.96 million from the remaining First Tranche balance after the RM38.29 million acquisitions of HELP College of Arts and Technology Sdn Bhd (HCAT) and Scholastic IB International Sdn Bhd (SIB), as well as the subscription of shares in Altech Chemicals Ltd and RM23.62 million from the second tranche, which was initially allocated for future investment opportunity(ies)/prospective business(es) for the working capital requirements of the group.

From the RM53.58 million, RM44.73 million has been utilised for working capital of HCAT, MAA Credit Bhd and MAAX Factor Sdn Bhd.

Meanwhile, MAAG said the remaining sum of RM70.13 million from the second tranche will be retained by the company for future investment opportunity(ies)/prospective business(es) and/or assets to be acquired and/or for additional working capital for the group or adjusted to any category(ies)/usage(s) as the board deems fit and in the best interest of the company’s long-term prospects and profitability.

It said the acquisitions of HCAT and SIB will enable the group to provide a complete education service from secondary education to tertiary education and will enable the it to have a stable stream of income and profits and accelerate expansion and growth in the education business segment.

In addition, the subscription of shares in Altech provides the group with an opportunity to participate in the future growth of Altech and enjoy the potential capital appreciation in the value of the investment upon operation of the high-purity alumina plant.

“To date, the company has not complied with the Practice Note 17 (PN17) regularisation requirements pursuant to the Listing Requirements.

“The board is constantly evaluating various options for the optimal utilisation of the disposal proceeds and will focus on acquiring new business(es) and/or assets to enhance MAAG’s earnings profile, regulate its financial condition and address its PN17 status,” it added.

Source: The Edge

https://www.theedgemarkets.com/article/ ... s-disposal
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Re: MAA Group

Postby winston » Tue Jun 30, 2020 7:12 pm

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1Q Results

Revenue: +22%
EPS: Losses RM 30.5m
NAV: RM 1.70

https://www.bursamalaysia.com/market_in ... id=3064538
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Re: MAA Group

Postby winston » Sun Aug 30, 2020 5:58 pm

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1H, 2020 Results

Revenue: +13%
Losses Per Share: -2.69
NAV: 1.79

https://www.bursamalaysia.com/market_in ... id=3080885
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Re: MAA Group

Postby winston » Wed Nov 04, 2020 9:56 pm

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MAA swings back into the black in 3Q

by Arjuna Chandran Shankar

KUALA LUMPUR (Nov 4): MAA Group Bhd swung back into the black in the third quarter ended Sept 30, 2020 (3QFY20) posting a net profit of RM22.76 million from a net loss of RM3.3 million in 3QFY19.

In a bourse filing, the group explained its quarterly net profit was mainly led by its general insurance business which reported a profit before tax of RM9.9 million versus a loss before tax (LBT) of RM192,000 a year ago.

MAA posted earnings per share of 8.35 sen versus a loss per share of 1.21 sen.

The group saw higher earnings across all its segments, reversing the losses seen in its general insurance, investment holdings and other segments in the corresponding quarter last year.

Revenue-wise, the group saw its latest top-line income rise by 24.26% y-o-y to RM59.78 million from RM48.11 million last year.

This was due to higher gross earned premiums by its subsidiary MAA General Assurance Philippines Inc, investment income and other operating revenue from its non-insurance business.

On a quarter-on-quarter (q-o-q) basis, it saw net profit decline to RM22.76 million from RM23.17 million, despite revenue increasing to RM59.78 million from RM50.16 million in the immediate preceding quarter.

Earnings per share dipped from 8.48 sen in 2QFY20 as a result.

The lower net profit was due to higher realised loss of RM10.7 million from the disposal of assets from the RM14.7 million gains seen in 2QFY20, and higher net claims of RM7.6 million from RM4.3 million in 2QFY20.

For the nine months ended Sept 30, 2020 (9MFY20), the group was in the black with a net profit of RM15.43 million from a net loss of RM4.96 million in the corresponding nine months last year.

9MFY20 net profit was up by 17.12% at RM164.27 million, from RM140.26 million, bringing earnings per share to 5.7 sen from a loss per share of 1.81 sen a year ago.

“The COVID-19 pandemic has caused major disruption to the global economies including Malaysia. Businesses worldwide are currently facing a very challenging time and having to manage uncertainties that have arisen resulting from the outbreak of COVID-19.

“As at the date of this announcement, there are on-going proactive measures introduced by each company in the Group. The Group will also continue to improve its management efficiency and intensify cost optimization efforts to ensure business sustainability,” it noted on its prospects.

Shares in MAA finished 5.13% or three sen up at 61.5 sen, valuing it at some RM168.08 million.

Source: The Edge

https://www.theedgemarkets.com/article/ ... k-black-3q
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Re: MAA Group

Postby winston » Mon Mar 01, 2021 10:45 am

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FY 2020

Revenue: -5%
EPS: 8.94 from -9.60
RNAV: 2.02
Net Cash: RM 110m from RM 247m; 0.42 / Share

https://www.bursamalaysia.com/market_in ... id=3134022
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Re: MAA Group

Postby winston » Fri Sep 03, 2021 3:23 pm

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MAA Group emerges as KNM’s substantial shareholder

by Sulhi Khalid

MAA Group Bhd has emerged as a substantial shareholder of KNM Group Bhd, after acquiring a 7.01% stake.

MAA bought the stake, comprising 233 million shares, in an open market transaction for RM52.89 million, or an average of 22.7 sen per share.

KNM’s net assets per share of 53 sen.

KNM is mainly involved in project management, engineering, manufacturing and construction for the renewable energy, power, utilities, refining and petrochemical industries.


Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... hareholder
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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