Vote yes. Very good price for MAAT. Dividend of 0.35, better than nothing!

With detariffication coming in soon, as a small player, they cannot remain competitive in the insurance industry here. If they do, won't be able to compete and cover their overheads. Fortunately, with Bank Negara not issuing new takaful licences, MAA was able to get a good price for MAAT. It is a good move to sell off MAAT now.

Vroom.....vroom starting engine

I am also still accumulating. Waiting for gaji to come in to buy some more.

My guess would be about 150 people

Wow!! Both of you guys are very lucky and have a long-term investment strategy. Now being rewarded for your patience.

Crazy127, excellent returns!!! I can't understand why people still not buying, yesterday down 0.01 after a lot of info was released at the AGM. Should be going up.

You're Welcome.

On the share buyback, last was in April 0.98~0.985. I did ask at the meeting to support the share to 1.57. They said can only buyback if they feel the stock is undervalued. As cannot be seen by bursa that they are manipulating the share price. BOD feel that in the near future, share will go up on its own.

To point No 1, last sentence I better say "mostly in cash and receivables" as a portion of the cash will only be received after 2 years.

JamesOoi, a few reasons:
1) NTA per share after sale of MAAT is 2.36 before special div or 2.01 after special div. Mostly in cash.
2) They have indicated might increase their stake on MAA Phillipines from 40% to above 50% so that this can be consolidated in their book. This entity is 12th largest out of 69 insurance company there and is profitable.
3) Can also increase their stake in Columbus in Australia from 47+% to 50+% and consolidate in their books. Also profitable biz.
4) Looking at increasing their exposure in the education sector. There is a lot of opportunity here. We know the state of our schools.
5) Looking to buy a manufacturing biz. But said, will only do at the right price and take it slow.

After the AGM, I have sold other counters, some at a loss and some at a small profit and put all the funds in MAA. Bought at RM1.17 this afternoon.

AGM on Monday, 20th, how many going? Can unite there also. Let's decide how we going to vote on the resolutions.

I am waiting for gaji to accumulate more before the RM0.35 dividend announcement. Please sell at the end of the month so I can buy cheap! Hehehe

I think, easily will go over RM1.80 once we get closer to the ex-date in Mid-August.

Once MAAT has been disposed, they will still have a 4 running businesses.
1) Kasturi Tuition Center,
2) Indopelangi,
3) MAA Genaral Insurance Philippines,
4) Columbus Capital

If they can focus and increase the revenue and profits of these businesses, with the sale of MAAT, no longer classified as a Financial Holding Company, they will be out of the PN17 status.

This does not exclude the prospect of MAA being used as a target for a reverse take-over. To me, the stock is still under valued at the current level.

Substantial shareholders selling shares. Why? Who is buying?

EGM 28th June. Stock will start going up next week. Huhuhu!!!

Navin, share with everyone here-lah. This way can get more ideas/inputs from all forum members, especially some of the Sifus.

Navin, the deal is still on. Bank Negara not issuing any new Takaful licence. That is why the licence is very valuable and Zurich has to pay a premium.

Looking at the automotive general insurance, the takaful business is experiencing double digit growth rate. Most banks are now doing Islamic loans.

If Zurich, remember they have first right of refusal since they bought MAA conventional insurance sometime back, not interested to buy, others, like Allianz, will want to buy. Zurich, like us, waiting for the EGM.

BTW what made you think the deal is off? Anything you heard? Or just worried?

Additionally, Yes, there is always the risk of Directors/Major Shareholders screw minority, that is a given, if you cannot stomach it, stay away from the stock market!!! Always do your homework and go in only if you have confidence with minimum risk.

Just noticed, just reported profit is the lowest in the last 14 quarters (3.5 years)!!!

Compared to last 3 quarters (Q22015 to Q42015), revenue and profit also drop. No need to compare to 1st quarter 2015 before GST story. Something is wrong with the statement. I suspect, like I said before, revenue under pressure due to less revenue from cheque clearance business & margins under pressure due to yen to ringgit exchange rate.

Have to wait for the announcement. I had initially speculated that they will hold the EGM together with the AGM on the 20th of June. But so far no announcement.

When will quarterly results be announced?

Quarterly results not so good. With ringgit still down, next quarter/year end won't be that great. What do you guys think?

Me too. Will vote NO. Since business has been sold, anyway to reduce number of board members and their million ringgit salaries? Should we vote NO to re-election of directors at AGM next month?

Agreed.....I am still holding and am still accumulating. Bought some more at RM1.18 and, 2 days ago, at RM1.15. Very little money left in my bank account.....all in MAA shares. That is how bullish I am on this share. In 3 to 6 months time, hoping to have made good returns!

I think drop (or correction) because some people decide to take profit (maybe bought below RM1.00) without understanding / reading the proposal. Not to worry, soon be up again. Patience.

Agreed.....Cash is King

http://www.theedgemarkets.com/my/article/cover-story-crunching-numbers

Corwin deal off the table. With this, a hope of a dividend diminishes.....unless they find another buyer.

The way I look at it, it is a buy. There is potential for this stock to go above RM2.00 before the ex date for the special dividend.

Even after no biz, the company is cash rich and we will continue to give dividend of RM0.06 per year. The major share holders would want that. This will generate dividends yields better than leaving the cash in the bank.

After no biz, there is potential of a reverse take over or a back-door listing. Just before this happens, they will announce another special dividend or Statutory Reduction to clear their cash. Than after the back-door listing, we still have shares in the new company.

There is value here.

Wish they proposed a higher dividend from the initial RM300 million proceeds. Currently, keeping 2/3 and distributing 1/3. Would have like to see it the other way round. After all, in 3 years time, getting another RM95.75 million.

NTA estimated at RM2.36 before special dividend. Looking at the proposal, page 14, NTA is 2.01 after the special dividend.

A year ago, 1 yen = RM0.02990, today 1 yen will cost you RM0.03749. This is an increase of RM0.00759 or an increase of 25% for the cost of CRM machines that they are buying from Oki in Japan. Not sure if they were able to get discounts from Oki. As long as Yen keep going up, there will be pressure on margins. Additionally, with more and more transaction moving from cheques to on-line transfer, there could be revenue pressure on the cheque clearing biz. With this, I expect the stock will be trending lower.

The news didn't say the sale price. If anyone got inside information on the Share Purchase Agreement, please share with us.

Moving....hope momentum continues all the way to RM2.00

Now stock price starting to look interesting. Waiting till next week to see pick up or not, after changes at Bank Negara.

This week, not true.....keep postponing as delay due to funds from government to pay suppliers. Supplier were not sending parts. Soonest will be sometime next month or in June.

New support at 0.98....glad I picked up a bit more at 0.965 today :)

I first bought MAA about 1.5 years ago. At that time, the dividend yield was fantastic. It is still good. Recently, there was an announcement on the sale of their takaful biz to Zurich. When ever I have excess funds, I keep on buying. I am still accumulating. Reason: I believe there is still upside from current level once the announcement is made on the price. Otherwise the company won't be buying back their shares.

It is consolidating at the 0.97/0.98 level after the div of 0.03. This is good. Going forward, 0.97 is the new support level. After consolidating, will resume up-trend.

NavinShah, What do you mean by batu?

I am now confident about DRB. With government coming in and they have clearly stated that a foreign strategic partner is a must for Proton. And my guess is that the partner will have controlling interest.

The partner will be able to decide where and from whom to buy from. Quality will improve and cost will go down. No more cronies sucking Proton and DRB resources. Old Man's formula for doing business.

Idris Jala coming in is another positive, he reduced cost at MAS and managed to turn around the airline. He will do the same here.

Proton is already working with Honda on the Perdana and going to re-badge Suzuki. My guess, one of this will be their partner. Both will be excellent. I am hoping for Suzuki, they make small affordable cars. This is the market for Proton. Imagine if they can introduce the Suzuki Alto and sell it for around RM20k. Proton market share will go up tremendously.

With Government in, Ah Jib will want to show he can do a better job than Old Man. They might allow, initially, for CBU to be brought in at National car tariff. With this, introduction of re-badge models could start sooner.

Japanese Yen has been appreciating the last few days. Making the cost of the machines more expensive in terms of RM. The stock will continue to trade sideways.

Loan approved, good sign. Now Government must show that they can perform better than when Tun M was there. To show that Tun M is not good and they are better. So sure got support.

Jan, Feb & March 2016 Proton sales about 19,000~19,200 units. The MAA report for March not out yet and I am estimating based on a teh tarik session with a friend.

This is the worst quarterly performance in this financial year (in terms of units), coupled with increased discounting and promotions will result in bigger operating losses.

The positive for Proton, government has openly declared it is a failed business model. The Thailand model has proven to be much more effective and today they export over 3 million units. Today, Thailand earns billions in foreign currency, providing employment and increasing the revenue of the country through income and corporate taxes. Back in the 80's, Malaysia was the largest passenger car market in South East Asia. Had we used the Thai model to start with (as Tun Musa Hitam wanted), today we will be the Detroit of South East Asia and not our neighbour. Another failure by old man, who used mega projects, like this, to enrich his cronies. That's another discussion.

With this declaration, they will need to find a foreign strategic partner. Soon, Proton will be off DRB books. The question is:
1) When? How long to look for a partner? How much losses will DRB incur till they find a partner?
2) At what price will they sell?
3) Sure foreign partner want cheap, how much will be written off in DRB books if sold cheap? Remember, DRB paid a premium, as that time there we 2 other party (MBO & NAZA Group) wanted to by Proton, so DRB had to pay a premium. Today, nobody want to buy. VW wanted a few years ago, today, they have their own set of problems.

For us, how will this effect the stock price? If you are willing to wait, after Proton is taken off DRB books, the price should go up. I would rather wait till there is more clarity. If buy a bit higher price also ok. In the mean time, make $$ elsewhere.

Nice to see MAA supporting the price at 0.94. We we look back, every time they start to support, the stock will go up to the next level soon. Today getting dividend.....can buy some more....hehehe

crazy127, keep a while longer. The charts showing a uptrend (after adjusting for dividend).

http://www.theedgemarkets.com/my/article/drb-hicom-inks-deals-pos-msia-klas-land-injection-rm818m

Up due to POS Malaysia deal.

Sack Dr. M or not, management is the same. They need to get Proton out of the group. Till than, Proton will be a drag on entire group. Perodua is expected to launch a new 1.5 sedan model in a few months. Proton sales might take a hit resulting in a larger losses at Proton and further drag down DRB