Highlights
KLSE: MAA (1198)       MAA GROUP BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
0.855   +0.035 (4.27%)  0.82 - 0.855  8,000
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Overview

Market Cap: 234 Million
NOSH: 274 Million
Avg Volume (4 weeks):95,844
4 Weeks Range:0.805 - 0.905
4 Weeks Price Volatility (%):
50.00%
52 Weeks Range:0.40 - 1.07
52 Weeks Price Volatility (%):
67.91%
Average Price Target: 1.14
Price Target Upside/Downside: +0.285
Stamp duty exempted for year 2019

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2019 [#1]  |  29-May-2019
Next QR | Est. Ann. Date: 30-Jun-2019  |  29-Aug-2019
T4Q P/E | EY: -28.31  |  -3.53%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 1.96  |  0.44
T4Q NP Margin | ROE: -4.67%  |  -1.54%

Headlines

Date Subject
03-Jun-2019 小股东击退MAA大股东/万年船
03-Jun-2019 MAA脱离PN17有疑虑/前线把关
27-May-2019 谁是赢家?/万年船
24-May-2019 MAA集团挑战RM1.09/敏源
23-May-2019 Mplus Market Pulse - 23 May 2019
23-May-2019 PublicInvest Research Headlines - 23 May 2019
20-May-2019 MAA到底怎么了?/前线把关
13-May-2019 MAA献购价直击要害/万年船
28-Feb-2019 PublicInvest Research Headlines - 28 Feb 2019
28-Feb-2019 Mplus Market Pulse - 28 Feb 2019
07-Jan-2019 [转贴] 2019十大风云人物 乱世各显神通
24-Dec-2018 Technical Analysis - MAA Group
11-Dec-2018 PublicInvest Research Headlines - 11 Dec 2018

Business Background

MAA Group Bhd is a Malaysian investment holding company. The company along with its subsidiaries operates in four segments Investment holdings, Education services, Retail mortgage lending and loan securitization and General insurance. It generates the highest revenue from Investment holdings segment. The firm has investment holdings in companies engaged in manufacturing, oil and gas, education, assisted reproductive technologies and others.
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  6 people like this.
 
Alipapapa Tunku Yaacob sapu in market since cheaper than offer price rm1.10.
13/06/2019 11:09 AM
Alipapapa Woww. MAA 91sen ! Will close above RM1.00 today ?
13/06/2019 11:19 AM
huntertee Looks like something is brewing. Possibly another offer in the making
13/06/2019 11:34 AM
Alipapapa Yes. New offer at least RM1.30-RM1.50.
13/06/2019 11:39 AM
dompeilee I thought orig offerors cannot make another offer for 12 mths? Not likely an outside offer coz Melewar holds bulk of shares.
13/06/2019 11:44 AM
Tnnox Those still got MAA share one, please hold on it. New offer is one the way.
13/06/2019 11:45 AM
sheep end of june, company will be getting millions...hope get give special dividends
13/06/2019 11:54 AM
Kana Singgam what can stop Melewar ind. from offering $1.11 or more for Maa. As Maa has the money to pay itself out. They buy up Melewar ind. first at 13+ and then look at maa.
13/06/2019 12:09 PM
moneycashrich Those waiting for 50 sen is a faraway dream. Those who bought at 80sen +- are the experts. Nice profits. Seafood dinner tonight no problem. Continue to win and win in MAA.
13/06/2019 1:32 PM
sheep buy and hold below 0.90 should win
13/06/2019 2:32 PM
siaoliao HOLD ?? TP ??
17/06/2019 12:46 PM
siaoliao NAPS 1.9 lol.........
17/06/2019 12:47 PM
huntertee Who is collecting?
17/06/2019 3:10 PM
Kana Singgam On the 12th, i said to buy at 80c and hold, today it has done 97c, up 17c, its has NTA. look for stocks with cash. in down market it will move. MAA is one of them.
17/06/2019 4:00 PM
Kana Singgam sorry, maa was done between 81.5 to 85 on the 12th. I said to buy and go away.
17/06/2019 4:07 PM
jamesooi No big volume transaction in MAA, easy to push up the price, and value investors see value in the company, buy the shares and keep for dividend. See what will happen after 30/6/2019. Expecting price will be more volatile after 30/6/2019.
18/06/2019 11:22 AM
jamesooi Also no big selling transactions, will see price moving in only one direction, up,up,up.....
18/06/2019 11:25 AM
jamesooi Soon will go higher , even above RM1.10+++
19/06/2019 11:38 AM
jamesooi What is your Capital at Risk if you invest in MAAG (17/06/2019) today based on announcement dated 3 April 2018 on PROPOSED VARIATION TO THE UTILIZATION OF PROCEEDS FROM THE DISPOSAL OF MAS TAKAFUL BERHAD (“PROPOSAL”). 

MAAG is a PN17 company since 30 September 2011 and still a PN 17 company as at to date. 
The current Paid-Up Capital of MAAG is 273,517,752 shares. 
If current share price for MAAG is RM 0.945 per share as at 17/06/2019, 

Based on PROPOSAL and I am taking 5 items in the Proposal to do a simple calculation on how risky to invest in MAAG now. 

Based on the Proposal on note f, 
Balance of RM 30,854,000 shall be utilized as working capital and share buy-back exercise. So I make assumption on this point by allocating RM 21,250,000 for share buy-back and the balance for working capital. So 2018 share buy-back of 10,000,000 shares at the average price of RM0.80 per share and the shares shall be canceled after share buy-back. So 2018 , the Paid-up Capital shall be 261,017,752 shares. In 2019 share buy-back of 11,250,000 shares at the average price of RM0.90 per share and the shares shall be canceled after share buy-back. So 2019 , the Paid-up Capital shall be 248,517,752 shares. The Balance of Paid-Up Capital shall be used for dividend calculation in the note b,c,d and g. 

Based on the Proposal on note g, 
Balance of RM 32,822,000 shall be payment of dividends to MAG Shareholders for 2018 and 2019. The Board intends to utilize approximately RM32.82 million for the payment of dividends to its shareholders for the FYE 2018 and FYE 2019 respectively. 
So, my assumption is MAAG will be proposing dividend for 2018 is 6 sen less 3 sen was paid in 25th April 2018 and balance of 9 sen in 2019. 

Based on the Proposal on note b, 
To simply the note b, the balance of RM 40,250,000, if unable to identify new business opportunity after 2 years, that is by 30/6/2020, the proceeds allocated for future investment opportunities may be distributed back to the entitled shareholders of MAAG. So, my assumption is MAAG will be distributing further dividend after 30/6/2020 for 16.20 sens. (RM40,250,000 divide by 248,517,752 shares). 

Based on the Proposal on note d, 
To simply the note d, the balance of RM 28,000,000, if unable to identify new business opportunity after 2 years, that is by 30/6/2020, the proceeds allocated for future investment opportunities may be distributed back to the entitled shareholders of MAAG. So, my assumption is MAAG will be distributing further dividend after 30/6/2020 for 11.27 sens. (RM28,000,000 divide by 248,517,752 shares). 

Based on the Proposal on note c, 
The balance retained consideration sum due on 30/6/2019 of RM 93,750,000, if unable to identify new business opportunity after 2 years, that is by 30/6/2021, the proceeds allocated for future investment opportunities may be distributed back to the entitled shareholders of MAAG. So, my assumption is MAAG will be distributing further dividend after 30/6/2021 for 37.72 sens. (RM93,750,000 divide by 248,517,752 shares). 

So, to sum up, What is your CAPITAL AT RISK if you invest in MAAG now. 
IF Share price RM 0.945 and (less balance of dividend left for 2 years is RM 0.09 (on note g) less dividend (on note b) is RM 0.162 less dividend (on note d) is RM 0.1127 less dividend on retained consideration (on note c) is RM 0.3772 = RM0.7419), therefore your Capital at Risk is only RM 0.2031 per share. 

Calculation for future NTA 
Current NTA as at 31/03/2019 was RM1.96. If next 2 years MAAG still cannot find new businesses, I will assume that MAAG shall be a losing concern for next 4 years, I will discount NTA by 40 sen until 2021 and Less dividend for RM 0.7419. The Future NTA shall be RM 0.8181. The above assumption is The Management cannot identify any new businesses to invest . 

Calculation for Cash in hand as at 30/06/2019 
Based on 31/03/2019 account with cash balance RM256.84 Mil and plus retantion to be collected on 30/06/2019 is RM93.75 Mil from Zurich. This company is very rich in cash of RM 350.59 Mil. which work out of RM1.2817 per share based on 273,517,752 shares. 

Calculation for valuation of all other businesses in MAA Group is only RM 0.2031 
All other businesses in the MAA Group is value or worth RM 0.2031 per share. THAT IS WHY I CALLED MAA is still a lelong stock.
19/06/2019 12:28 PM
Choivo Capital The price action for this stock is very interesting.
19/06/2019 6:56 PM
Kana Singgam At 248.5m the % holding of the Melewar gp has gone up from about 38+ % to about 47+% and if there is share buy back at around 97 to $1.00, Then the melewar gp will have more then 50% of the company.Then what ?
20/06/2019 12:27 PM
Kana Singgam They are using the company cash to buy back shares on the open market below $1.10. In this process they can reach 75% and delist the company over time.
20/06/2019 12:35 PM
Kana Singgam Jamesooi Have you thought about in my line of thinking.
20/06/2019 12:38 PM
dumbMoney There has been no recent company's shares buy backs, as otherwise would need to be announced immediately.
21/06/2019 11:33 PM
jamesooi Will it break RM1.00 today?
24/06/2019 10:14 AM
cheoky dividend 11% ++ + proceed 90mil.
27/06/2019 9:00 PM
sheep Next qr got dividend?

Further to the announcements dated 4 May 2016, 30 June 2016 and 27 December 2016, the Board of Directors of MAAG (“Board”) wish to announce that the balance consideration of RM88,623,399.52 has been released to and received by MAAG today, being the next business day after the third anniversary of the Completion Date on 30 June 2016, and a balance of RM5,126,600.48 is still being retained by Zurich until the Pending Purchaser Claims are resolved.



The Pending Purchaser Claims relate to alleged breach of warranties, and mainly comprise of claims of RM6,668,792.30 additional taxes and penalties imposed on MAAT by the Inland Revenue Board of Malaysia. MAAG has engaged its advisers and attorneys to verify and assess the accuracy and validity of these claims. The Company will make necessary announcements on further developments as and when necessary.
01/07/2019 8:01 PM
dumbMoney See what a minority shareholder wrote about the failed IndoAgri privatisation offer in Singapore recently https://www.theedgesingapore.com/views/management-corporate-governance/why-indoagris-recommending-directors-should-resign-0?utm_source=Singapore+Market+Report&utm_campaign=fa1ab53262-EMAIL_CAMPAIGN_2019_07_01_01_11&utm_medium=email&utm_term=0_46b7beec93-fa1ab53262-87394229&mc_cid=fa1ab53262&mc_eid=e4ded14b70
02/07/2019 3:40 PM
cheoky rm32mil to be disturbed per last shareholder approved resolution ? rm32/rm265mil. 12% dividend oh.
02/07/2019 7:03 PM
cheoky oh. another 6months of waiting only. worth waiting lo.
02/07/2019 7:09 PM
cheoky Yum yum.
09/07/2019 6:11 PM
csan I'm back. So there we go....MAA received around 32sen/share in cash few days ago from the disposal and today, declared dividend of......6sen. lol
09/07/2019 10:33 PM
csan They could have easily declared the dividend cheoky mentioned earlier....but they didn't. Obviously no intention of doing so...they have other plans for the money.
09/07/2019 10:35 PM
sheep should go above 1.00 when next qr out...with good news then...wakakaka
10/07/2019 9:40 AM
Cipta At 0.96 price, the 6 cents div present a 6.25% DY
10/07/2019 10:20 AM
dompeilee Bought back some of the MAA I sold above $1 for 97.5c today...using part of the sales proceeds from KNM sold today @ 35c =)
12/07/2019 10:01 AM
dumbMoney Singapore to require delisting offers to be fair and reasonable, no more low ball unfair offers https://www.theedgesingapore.com/issues/management-corporate-governance/sgx-removes-10-block-voluntary-delisting-resolution-requires?utm_source=Singapore+Market+Report&utm_campaign=092ca4c25d-EMAIL_CAMPAIGN_2019_07_11_10_54&utm_medium=email&utm_term=0_46b7beec93-092ca4c25d-87394229&mc_cid=092ca4c25d&mc_eid=e4ded14b70
13/07/2019 2:28 AM
Cipta Yes! We want Fair n Reasonable.
Now we know which tycoon is unfair.
13/07/2019 11:53 AM
dumbMoney All recent deals with the exception of one were deemed not fair. The recent failures of MAA and Yee Lee may be an indication that the days major shareholders can ride roughshod over minorities are over. Independent Advisors should do a better job than simply repeating the same 'not fair but reasonable' recommendations to earn their fees.
13/07/2019 9:31 PM
sheep 'Funny' listing rules hinder MAA business plan, says chairman Yaacob

https://www.theedgemarkets.com/article/funny-listing-rules-hinder-maa-business-plan-says-chairman-yaacob
18/07/2019 11:08 AM
linda77 Only know how to complaint from day one, no one ask u to buy maa, if u think d boss is not good or dont know how to run d business, please sell away ur shares.
18/07/2019 4:48 PM
Cipta Previous CEO said aim to turn to Manufacture sector.

Now TY only mentioned finance, edu, service n property.
From the bright side, TY focus on what he is best- finance n insurance.
19/07/2019 11:24 AM
sheep if this coming 6 sen is first interim dividend, means there will be another second and final 3sen?
19/07/2019 4:23 PM
Cipta This financial year will get 12 cents
19/07/2019 5:30 PM
Willbegood why share price keep going down?
25/07/2019 3:38 PM
jamesooi If you are long term investor, you have to look at this,

MAAG, based on announcement dated 3 April 2018 on PROPOSED VARIATION TO THE UTILISATION OF PROCEEDS FROM THE DISPOSAL OF MAA TAKAFUL BERHAD (“PROPOSAL”). 

What I expect some more dividend coming until 2020

Based on the Proposal on note g, 
Balance of RM 32,822,000 shall be payment of dividends to MAAG Shareholders for 2018 and 2019. The Board intends to utilize approximately RM32.82 million for the payment of dividends to its shareholders for the FYE 2018 and FYE 2019 respectively. 
So, MAAG shall be proposing dividend for financial year ended 31/12/2019 is 3 sen (less 9 sen already declared in 2018 and July 2019). 

Based on the Proposal on note b, 
To simply the note b, the balance of RM 40,250,000, if unable to identify new business opportunity after 2 years, that is by 30/6/2020, the proceeds allocated for future investment opportunities may be distributed back to the entitled shareholders of MAAG. So, my assumption is MAAG will be distributing further dividend after 30/6/2020 for 14.71 sens. (RM40,250,000 divide by 273,517,752 shares). 

Based on the Proposal on note d, 
To simply the note d, the balance of RM 28,000,000, if unable to identify new business opportunity after 2 years, that is by 30/6/2020, the proceeds allocated for future investment opportunities may be distributed back to the entitled shareholders of MAAG. So, my assumption is MAAG will be distributing further dividend after 30/6/2020 for 10.23 sens. (RM28,000,000 divide by 273,517,752 shares). 

The above assumption is based on the Management cannot identify any new businesses to invest .
25/07/2019 5:14 PM
moneycashrich Thanks Jamesooi. We are here for a long long time ago. Not for those who chase high but did not buy low...around 40 sen ( once in a bluemoon). I have collected at near low. No reason for me to leave this stock.
26/07/2019 1:56 PM
dumbMoney Just announced shares buyback. First time sice 2016.
01/08/2019 1:46 AM
dumbMoney Bought only for 1 day and then stopped. Just for show?
04/08/2019 3:02 PM
huntertee Guys, was there a dividend earlier?
09/08/2019 11:19 PM


 

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