Posted by danny123 > 2016-06-26 20:53 | Report Abuse

At the upcoming EGM there is only 1 resolution – to approve the disposal of MAA. EGM circular to shareholders page 11 states that the special dividend is not subject to the approval of shareholders. The Proposed Special Dividend is conditional upon the completion of the Proposed Disposal but not vice versa. So if we allow them to dispose MAA Takaful then only they will pay the special dividend of 35 sen to shareholders as a sweetener. Apart from that, they can use the RM300 million from the disposal to buy any asset they wish. Something that is not in favour to minority shareholders. They may acquire overvalued assets.

When they acquire new assets the company may come out with rights issue, which we wouldn’t know. All these are disadvantages to the minority shareholders. We need to raise these concerns as the EGM. The future plan of the company is very uncertain.

I am voting against the EGM because of the above reasons. If the vote at the EGM is against the proposal, maybe the Board will have to come out with a better proposal than this. They may call a 2nd EGM.

Posted by sheep > 2016-06-27 10:17 | Report Abuse

35 sen coming. Wakaka

Posted by moneycashrich > 2016-06-27 10:34 | Report Abuse

In all consideration of factors, the fast disposal of Takaful is very important. I support YES.

Posted by jamesooi > 2016-06-27 10:50 | Report Abuse

I agreed with Moneycashrich, after all we waited so long for this to happen.

Posted by moneycashrich > 2016-06-27 11:03 | Report Abuse

Insurance is a highly regulated business. Tough competition. Mostly bank backed. Or hugh international big names. Not easy to sell at high price. Like it or not, a NO vote will send MAA price to less than RM1.00. Happy voting tomorrow.

Posted by jamesooi > 2016-06-27 11:14 | Report Abuse

At this uncertain Bursa Market, MAAG still trading at strong support range of RM1.12 to RM1.16 due to corporate exercise of disposal of MAAT, if this corporate exercise is not approve, I agree with you, Moneycashrich, if vote NO, it will send MAA price to less than RM1.00.
Take the RM0.35 special dividend and by Augest or Sept 2016, there will be alot of opportunities in the Market.

Posted by balvin71 > 2016-06-27 11:26 | Report Abuse

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

Posted by balvin71 > 2016-06-27 11:28 | Report Abuse

A NO Vote will send stock price back to 0.65.

Posted by jamesooi > 2016-06-27 11:30 | Report Abuse

VOTE YES, YES, YES......

Posted by jamesooi > 2016-06-27 11:43 | Report Abuse

Window dressing for tomorrow EGM, how far can it goes, maybe RM1.22 per share.

Posted by jamesooi > 2016-06-27 11:45 | Report Abuse

or is it BREAKOUT ??????

Posted by danny123 > 2016-06-27 11:51 | Report Abuse

if we VOTE AGAINST, the board might call for a 2nd EGM, the offer will be better.

we must tell them this offer is not good because they used 300 millions to buy any asset
then if this happen d share will come down to 0.60 cents when they acquired new assets

Posted by danny123 > 2016-06-27 11:59 | Report Abuse

I agree with u guys if u vote against d share will come down, but this is temporary only.

The share will go up much higher if d board call for 2nd EGM .
For this to happen we must VOTE AGAINST in d 1st EGM.

Posted by danny123 > 2016-06-27 12:04 | Report Abuse

REMEMBER they can buy what they want if 1st EGM approved.
over value assets ,d share can come down to 0.60 cents.
im ind market for 22 yrs

Posted by danny123 > 2016-06-27 12:12 | Report Abuse

please dont dream d board later will general offer to minority share holders
why: because u ve given them d authority to acquired new assets if u vote yes in d coming EGM

Posted by danny123 > 2016-06-27 12:28 | Report Abuse

once they acquired new assets , they money already spent, for what purposed they want to general offer to u, think??
unless they dont acquired new assets, they might GO

Posted by danny123 > 2016-06-27 12:29 | Report Abuse

BECAUSE d company still a lot of cash

Posted by moneycashrich > 2016-06-27 13:04 | Report Abuse

All I see a No vote is a looming disaster like Britain Leave vote. The vote is in your hand. Do not cry later. Happy voting.

Posted by jamesooi > 2016-06-27 13:55 | Report Abuse

So, VOTE YES, YES, YES...

Posted by linda77 > 2016-06-27 14:05 | Report Abuse

Moneycashrich, how can this company compare with the British vote?
It has nothing to do with British.

If we allowed the EGM to be approved, it will be too late to stop the comp from buying assets. Even though the comp need the shareholders approval, but the major shareholders have the majority vote.
I agreed with Danny123 to vote against the EGM and tell them to dispose the MAA takaful and pay more special dividends, but dun't acquire new assets. If possible, ask them to privatise the company due to the company has a lot of cash.
Pls vote wisely.
Note: if the company allowed to acquire new assets, it may issue right issue and it won't need shareholders approval for that.
If this happen, the share may come down to 0.50 sen, e.g MBSB - what happened? The share down from 2.00 to 0.70 due to the comp issue right issue.

Posted by balvin71 > 2016-06-27 14:36 | Report Abuse

Company will NOT be taken private. They have already said this. Please READ the announcements/circulars. Many time BOD have said they will MAINTAIN listing status. If they acquire a new company, they would need NEW approval.

Now, the EGM is for the sale of MAAT. This is a good thing. Vote YES.

When they want to buy other assets, that is a different thing. Than you decide what to vote. Do not jump the gun.

Posted by danny123 > 2016-06-27 14:50 | Report Abuse

Please read EGM circular 6.2 pg15, CAPITAL INJECTION

The company might raise capital by way of right issues which is not good for minority s/holders.
so how u vote is all depend what u want, 0.35cents or later right issue

Posted by Markus Lee > 2016-06-27 14:57 | Report Abuse

The EGM tomorrow is to ask for shareholders approval (vote) to dispose the Takaful biz.
If you think its not fair price, fine, then vote no. I think it is very very good price. I will vote yes.

It has nothing got to do with if you vote yes , you are giving green light to the board to use the proceeds to acquire other business. I think some of you misunderstood or misinformed. They need another EGM to get approval if they propose to acquire other business. I don't see the correlations that if you vote no, you can limit the board's power. You are only voting against the resolution (selling takaful to zurich).

Honestly, I think the board has done a great job SO FAR. And why would they do something that's not in their and the group best interest?

The board cannot privatize MAAG. The board can repurchase MAAG own shares a lot more and sooner. The biggest shareholder (TY) can privatise (which I suspect he will much later on if this silly undervalue price still persist... ok this story another time... don't want to confuse other). So feel free to pressure the board tomorrow to buy back own shares a lot more and sooner. Yes, you can express whatever views and opinions (eg. more dividends, please don't simply buy other biz, ask TY to make general offer so that it will create a floor price to MAAG, more capital repayment etc...). But please understand the vote is solely about asking your approval to sell Takaful to Zurich.

Posted by jamesooi > 2016-06-27 15:12 | Report Abuse

Well said, Markus Lee, The EGM tomorrow is to ask for shareholders approval (vote) to dispose the Takaful biz ONLY. Nothing elsa.

Posted by moneycashrich > 2016-06-27 15:29 | Report Abuse

After all these presentations, I still support YES vote. Like it or not, a NO vote will harm a lot of late investors in MAA. Be ready for BIG losses in case of NO vote.

Posted by balvin71 > 2016-06-27 15:41 | Report Abuse

Me too support YES vote. At this point in time, sale of MAAT is good for company and will be good for share price.

Study the insurance industry, detariffication of insurance industry has started. MAAT won't survive in the new environment. The sale of MAAT is timely and getting a good price for it.

"MIGHT" raise capital via right issue or "MIGHT NOT" is for a different day. When that day comes, decide what to vote than.

Posted by moneycashrich > 2016-06-27 15:54 | Report Abuse

Those in insurance will understand that MAA will have to provide additional capital injection if the sale of Takaful not completed soon. It will be a disaster for MAA and our big shareholder has done the right thing. So far so good, our big MAA boss.

Posted by rohank71 > 2016-06-27 16:03 | Report Abuse

technical breakout. charging for 1.27 and then 1.40 level

Posted by danny123 > 2016-06-27 16:09 | Report Abuse

I think both of u ve misinformed about the EGM

Basically when u vote YES, u are allow them
1) to disposed Maa takaful
2) to acquired new business/assets
3) to issue right issues
4)special div 0.35cents
all this stated in d EGM circular.

If we manage to Vote against this EGM, at least we tell d board what we want, the board might call for another EGM. we can tell d board d following:
1) pay us higher div
2)dont acquired new business/assets
3)privatisation /capital repayment
then we vote FOR

so this EGM we tell them NO
this is d best interest for minority share holders

Posted by moneycashrich > 2016-06-27 16:19 | Report Abuse

Quote: If the nature of the transaction (new assets) require shareholders' approval pursuant to the Listing Requirements, the Board will the necessary approval from the shareholders of MAAG at an EGM to be convened. I still support YES.

Posted by moneycashrich > 2016-06-27 16:20 | Report Abuse

correction: will seek

Posted by Cipta > 2016-06-27 18:46 | Report Abuse

1st: MAAG not strong enough to give MAAT the edge in the going to open insurance market. It may becomes MBSB (whom not competent enough which always ask money from shareholders). Selling it can avoid this situation.

2nd: If you want to object the near future right issue, one should object in the AGM happen last week which passed the resolution of share buy back and issue and allot share in resolution 9 and resolution 10, not this EGM.

3rd: If this EGM failed to pass the resolution, BOD might take time to re-call again comes out with new proposal or may not ( SC may see shareholder reject the sales of MAAT). If time passed, with the current volatile market and uncertainty, Zurich may call-off the deal. And spend another time and cost to reorganize another EGM just because a few shareholders said they want to take money and go away like no future is not fair to other long term investors as well.

4th: I see this Selling MAAT as a part of MAAG regulation plan. If failed tomorrow, please be remind that Bursa may suspend MAA which the last date for MAA to submit regulation plan is 30th June, this Thursday! And until now Bursa hasn't permit to extend the time yet.

The BEST scenario of vote Yes is you get 35 cent special dividend and future prospect.
The WORST scenario of Vote No is MAA being suspended. Zurich call-off the deal. Another buyer comes in with lower offer price. What you would vote then?

Posted by balvin71 > 2016-06-27 19:08 | Report Abuse

Completely agree with you Cipta.

Posted by rohank71 > 2016-06-27 20:48 | Report Abuse

good one Cipta

Posted by balvin71 > 2016-06-27 21:11 | Report Abuse

I invested in MAA because I wanted to have good returns from this stock. In terms of Dividends and increase in stock price.

Let's see the options:
By voting YES, I would be getting a dividend of RM0.35 per share plus potential future dividend; and/or will see the stock price rise to a potential of RM2.00 (the NTA at that point in time). Meets my objective. Total return of RM0.35 + RM0.80 = RM1.15

By voting NO, because want to push for an extra dividend of RM0.25 for a total of RM0.60. In the process risking the RM0.35 dividend and for the stock fall back to RM0.65. Or even worst, risk the stock being suspended for not submitting regularization plan.

Reaffirms my earlier vote. Or like JamesOoi said earlier:

VOTE YES, YES, YES...

Posted by linda77 > 2016-06-27 21:29 | Report Abuse

There is no point you guys arguing for voting yes/no.
Why not tomorrow we find out the following concerns from the BOD:
1) Any right issues?
2) If they cant acquire any assets within 2 years, are they going to refund back the sales proceed money to shareholders?

Posted by candygirl > 2016-06-27 22:16 | Report Abuse

danny123 & linda77 please come tomorrow 10am @ Crystal Hall Mutiara Komplex to vote NO . I want to see both your hands if you're so against it .

Posted by candygirl > 2016-06-27 22:28 | Report Abuse

I'm voting YES . The selling price of MAAT to Zurich is damn good . MAAG is unlikely to be able get another chance to sell off MAAT at8 such an attractive price . The whole world is in deep shit . YES to TY

Posted by jamesooi > 2016-06-28 00:28 | Report Abuse

VOTE YES YES YES

Posted by NavinShah > 2016-06-28 07:30 | Report Abuse

I have my proxy votingg "NO"

Posted by sheep > 2016-06-28 09:38 | Report Abuse

YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYES

Posted by JL99 > 2016-06-28 10:42 | Report Abuse

Anyone at the EGM? Can provide some update?

Posted by rohank71 > 2016-06-28 10:58 | Report Abuse

EGM update pls

Posted by Bluecadilliac > 2016-06-28 11:02 | Report Abuse

98% yes

Posted by candygirl > 2016-06-28 11:06 | Report Abuse

danny123 you must be the 2%

Posted by sheep > 2016-06-28 11:21 | Report Abuse

will shoot up this afternoon..

Posted by moneycashrich > 2016-06-28 11:32 | Report Abuse

For the YES camp, most will continue with MAAG. The future is surely exciting. For the NO camp, can sell at a good price of RM1.20 and no need to worry about new assets, right issue, dividend etc. Happy holidays.

Posted by NavinShah > 2016-06-28 11:41 | Report Abuse

My vote lost. So I may sell inthe afternoon????
Please advise.

Posted by Lovers > 2016-06-28 12:09 | Report Abuse

Great job! let have a great exciting future!

Posted by balvin71 > 2016-06-28 12:44 | Report Abuse

From the EGM:
1. Sale of MAAT will complete by Thursday 30th June. No exit clause for Zurich. So no need to worry about Brexit.
2. Won't be de-listed as bursa understands they are caught in between FSA & Bursa requirements.
3. When buying company, will buy no more than 25% of NTA. So no need for EGM. Bursa require EGM when buying a company 50% or more of NTA. Buying a few companies so not dependent on performance of 1 company. Away from financial company as this is too capital intensive.
4. Will continue to give dividends that yields 4~5%. This is to make stock attractive and ensure higher rate than Fixed Deposit.
5. Not taking company private as insufficient funds.
6. Cash per share after sale of MAAT will be RM1.55 and after special dividend will be RM1.20.

Voting:
98.67% Yes
1.19% No
0.14% Spoilt Votes