Posted by JAMESOOI > 2013-11-13 12:23 | Report Abuse

MAA, I am still holding. Are u still holding? Any news on lifting on PN 17?

Posted by Gan Hong Khai > 2013-11-13 12:31 | Report Abuse

MAA can buy now?

Posted by JAMESOOI > 2013-11-13 23:51 | Report Abuse

Proposed disposal of 55% interest held in MAAKL Mutual Bhd (“MAAKL Mutual”) to Manulife Holdings Berhad (“Manulife” or “Purchaser”) for a total cash consideration of RM56.061 million (“PROPOSED DISPOSAL”) by MAA Group in Bursa website, Is it good news or bad news?

Posted by necro > 2013-11-13 23:54 | Report Abuse

Good to MNRB in long term bad very bad for MAA..I think MAA planing to delisted from KLCI...

Posted by JAMESOOI > 2013-11-14 00:10 | Report Abuse

Now MAA has only one business left, that is MAA Takaful Insurance, and hopefully by 2 -3 years time, it can be like Syarikat Takaful Malaysia Berhad (Takaful Malaysia).

Posted by bryan888 > 2013-11-14 09:15 | Report Abuse

Disposal of unit trust business is a good move. MAA's unit trust unit made PBT of RM6m last year. To achieve RM56m (disposal price), It needs another 9 years and without any bank backing, It would be tough for MAA's unit trust to compete with public mutual and other bank backed unit trust funds. Disposal would give another cash per share of 18 sen and NA per share of 15 sen to RM1.30 per share and RM1.45 per share respectively.

Posted by virgogo > 2013-11-14 16:13 | Report Abuse

With more than 200 million, MAA may consider merger or acquisition of other smaller takaful operator. Otherwise MAA may consider cash repayment to shareholders or privatisation by major shareholder. Alternatively major shareholder may sell MAA to another insurer who is keen to have a stake in takaful business.

Posted by wan2bsuper > 2013-11-16 13:09 | Report Abuse

I attend Am Bank agm at timesquare , chairman Tan Sri Azman said "We are looking for experience Insurance company to work hand in hand merging in one company , and you have to wait for the news" He look at his CEO and I masok hati maybe kaki nang , orang Nogori juga ha ha it could be from same kampong NS. What worry me most, MAA business in Indonesia a big loss and doubt this time another ZURICH to take over . It take longer time to clear again, temenong lagi macam burung owl rindu bulan . Gurau saja jangan marah ya.

Posted by JAMESOOI > 2013-11-20 10:37 | Report Abuse

MAA has an extension of time of up to 30 November 2013 for the Company to submit the Plan to Bursa Securities. The Time is only left about 10 days and if the Company has not come up with the Plan to regularise its financial condition for Bursa Securities for approval. What is going to happen to the company shares for the PN17 counter?. Why the company take so long to come up with a Plan?

Posted by virgogo > 2013-11-20 12:34 | Report Abuse

Based on the financial position of the company now,it should have valid grounds to appeal for further extension of time to submit a plan. However, there still is a slim possibility that it may apply to self regulate based on its cash holding and present takaful insurance business. Base on rationale thinking and logic, Bursa malaysia would not be so STUPID to delist the company from Bursa. Bursa has to consider the interest of minority shareholders. Since it fall into PN 17 at end of 2011, the company has taken many steps to clean up its books and dispose many businesses that are unrelated to takaful business. As such Bursa should have enough of brain to maybe allow the company to self regulate.

Posted by JAMESOOI > 2013-11-20 15:49 | Report Abuse

Thank you for sharing. Hope that Bursa will give another extension of time if the management still not ready with a plan regularise its financial condition for the company.

Posted by Kutty123 > 2013-11-20 15:51 | Report Abuse

bankrapcy company , kept sucking people blood..

Posted by Yunnan > 2013-11-21 19:57 | Report Abuse

The management should distribute all proceeds from disposal of its insurance and trust funds to shareholders if they have no viable business to continue

Posted by Yunnan > 2013-11-21 19:58 | Report Abuse

Very disappointed to see loss quarter after quarter with no turning around in sight

Posted by JAMESOOI > 2013-11-25 18:13 | Report Abuse

Better Q3 2013 results for MAA

Posted by JAMESOOI > 2013-11-25 18:33 | Report Abuse

MAAG, Q3 2013 Cash Flows reported in the Company - Cash and cash equivalents at end of financial period 30-9-2013 - RM 292,970,000-00

Posted by andyopto > 2013-12-04 13:53 | Report Abuse

Looks like Maa is still far from being lifted from PN17 based on the past few days trading it has shown no demand at all and we should expect some adjustments very soon

Posted by JAMESOOI > 2013-12-16 23:21 | Report Abuse

ya lah, whole day flat and with little volume.

Posted by Eelyn Soon > 2013-12-23 22:53 | Report Abuse

lousy counter! dislike the pattern!

Posted by JAMESOOI > 2014-01-05 15:07 | Report Abuse

It is 2 years now MAA still a PN 17 stock. How long as a minority shareholder still have to wait for MAA to be out of PN 17 ?

The Company is applying to keep asking for extention of time? Why? The Management has no ideas as to how to restructure this company?

Yes, as a minority shareholder, we are very patient investors but we also want some answers. Can Bursa please make the decision soon?

Under the new FSA ruling, MAA, major business is only MAA Takaful ( an insurance company governed by Bank Negara Malaysia).

With reference to disclosures in the reports for the third quarter and financial years ended 30 September 2013 by BURSA, MAA, Q3 2013 Cash Flows reported in the Company - Cash and cash equivalents at end of financial period 30-9-2013 has RM 292,970,000-00

The management reported on 31-12-2013 in BURSA website that the disposal of 55% interest held in MAAKL Mutual Bhd (“MAAKL Mutual”) to Manulife Holdings Berhad (“Manulife” or “Purchaser”) for a total cash consideration of RM56.061 million (“PROPOSED DISPOSAL”) by MAA Group in Bursa has been completed today.

With that, the company should have at least Cash and cash equivalents at end of financial period 31-12-2013 (if the assuming the company does not make profit or loss in this quarter to 31-12-2013) shall add up to (RM 292,970,000-00 + RM 56,061,000-00) RM349,031,000-00 or Cash and cash equivalents per share is RM 1.146.

Based on Bursa report as at 30-9-2013, the NTA per share is RM1.40.
But, Its current share price as at 3-1-2014 is only RM0.64 per share.
It is a huge discount to its cash per share and NTA per share.

Some Investors at i3 investor.com post the question, Is MAA can buy now or not ? What price do you think its worth to buy?? Mind to advice ?

Posted by JAMESOOI > 2014-01-23 12:50 | Report Abuse

No demand for this share and price keep on falling.

Posted by JAMESOOI > 2014-02-06 07:37 | Report Abuse

Last few days before CNY and until yesterday I saw more that 1,200,000 shares changed hand at RM0.61 before the price start to move and closing at RM0.64. Buyers are coming back and hope for more action today. I agreed with NavinShah.

Posted by JAMESOOI > 2014-02-20 18:15 | Report Abuse

No news yet.

Posted by JAMESOOI > 2014-03-05 09:00 | Report Abuse

Declared dividend 3 sen per share payable on 18-4-2014

Posted by Fooksing Wong > 2014-03-05 09:57 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1557373

Posted by Fooksing Wong > 2014-03-05 16:11 | Report Abuse

omg.. up again... maa will out pn17 soon ? chart maa up trend le.... should i buy in ?

Posted by virgogo > 2014-03-05 19:24 | Report Abuse

With 2 consecutive quarters of profit, MAA should be able to apply to Bursa to seek waiver to submit any regularisation plan and self reguarise itself from PN 17.

Posted by Fooksing Wong > 2014-03-06 09:43 | Report Abuse

thanks :)

Posted by virgogo > 2014-03-06 12:20 | Report Abuse

Just to add on my comment earlier. Bursa existing guideline is that if a company still has existing good/potential business with sustainable business model and positive profit trend it may opt to self regularise (instead of undertaking a restructuring plan/or acquire new business). On top of this, existing business should achieve at least 2 consecutive quarters of reasonable net profit. If you were to study how Adventa got out of PN 17, wherein it waited to achieve 3 consecutive quarters of net profit and shown that it has a viable sustainable business in healthcare. It applied for for self regularisation and got it approved recently. The same goes for ECM LIbra which has submit in November 2013 to self regularise after achieving 3 consecutive quarters of net profit. Its application is still pending approval and I suspect the delay may be Bursa is still not too convinced yet that it has a strong sustainable business. ECM Libra liquid cash are heavily invested in shares and other liquid instruments. It only has fund management and corporate finance/advisory to support its existing business. Now coming back to MAA, its core business of takaful business is much more sustainable (if managed properly). What is left is the loss making general insurance business in Indonesia going through the process of liquidation. So, whether MAA submit for self regularisation now or wait for another one quarter of net profit, is anybody guess.

Posted by mengcourt > 2014-03-06 22:24 | Report Abuse

U people remember, PANGLOBAL or not. @#@$

Posted by Jetli > 2014-03-06 23:41 | Report Abuse

Virgo.... I totally agree with yr view. One main diff between Adventa, ECM and Maa is the revenue or turnover. The first 2 are very small in relation to Maa. The takaful business is > 4 yrs already n they are in the same business segment\industry. If bursa is playing a waiting game , it's a pure waste of time. TY has already publically stated that Maa is not going to reorganize. ECM has stated if no waiver is coming, they will delist n break up ie liquidate n return to shh. Maa has been silent on this issue. Maa's takaful business is big.....no guarantee that they can make consistent profits every qtr. it's now or never I think

Posted by Fooksing Wong > 2014-03-10 12:16 | Report Abuse

maa uptrend from chart.. i believe soon will fly :)

Posted by JAMESOOI > 2014-03-10 12:44 | Report Abuse

But price move up very slowly due to news on dividend. If no news, the price cannot move, maybe due to PN17. What is the price to TP in the near future, maybe say in a month after the dividend paid out?

Posted by henrygan99 > 2014-03-10 18:58 | Report Abuse

Whatever happens, the NTA is about rm1.40 . Even if delisted and a force fire-sale of assets, shareholders can get back at least rm1.00 or more …..

Posted by coolwater > 2014-03-10 22:12 | Report Abuse

The latest application for an extension of time to comply with Paragraph 8.04(2), 8.04(3) and PN17 of the Listing Requirements submitted to Bursa Securities was on the 29 Nov 2013. Yet we did not hear the approval for this application till now, it is over 3 months already. Why Bursa did not reply the application?

Posted by coolwater > 2014-03-10 22:22 | Report Abuse

The disposal of 55% interest held in MAAKL Mutual Bhd (“MAAKL Mutual”) to Manulife Holdings Berhad (“Manulife” or “Purchaser”) for a total cash consideration of RM53.061 million has been completed on the 31 Dec 2013. From the announcement made on 13 Nov 2013, MAAG is expected to realise an estimated gross gain on disposal of RM46.7 million on a consolidated basis. Can someone tell us whether this amount has shown in the recent's quarterly report?

Posted by coolwater > 2014-03-10 22:33 | Report Abuse

On 30 Sept 2013, MAAG announced that an amount of RM136.5 Million (including interest earned) has been released from the escrow account to MAAG , Is this amount also shown in the recent quarterly's report? I dun have accounting basis so I cant read the financial report in detail.

Posted by Jetli > 2014-03-10 22:42 | Report Abuse

Cool water.......amt already shown. Look at the notes to the acc. Maa provided RM 45m for Zurich's further claims that's why the two cancelled out. Otherwise profit b4 tax would be RM 55m . What's more impt is the cash in bank came down from 293m to 184m which should be more instead of less cos the sale of the mutual fund generated 56m. Wonder why cash came down

Posted by coolwater > 2014-03-10 23:44 | Report Abuse

Thank you Jetli, can we raise the question to MAAG secretary? we need an explaination why cash became lesser.

Posted by Jetli > 2014-03-11 11:27 | Report Abuse

Yes.u can & cc the letter or e-mail to the auditors & the CFO of MAA also. If necessary to Bursa too

Posted by Jetli > 2014-03-11 11:28 | Report Abuse

and the Minority SHH Watchdog

Posted by virgogo > 2014-03-11 14:24 | Report Abuse

As mentioned by Jetli, the gain on disposal was offset by a provision of RM45 million on claims by Zurich. MAA being prudent has made the provision in case Zurich claim is valid. However, this is still subject to MAA disputing it which is still ongoing pending independent accountant/actuarist/lawyer assessment (appointed by MAA to look into the claim).As to the cash depletion, I think part was utilised to invest in short term investments of financial assets.

Posted by Jetli > 2014-03-11 14:29 | Report Abuse

i did that calc too.........but i'm still short of around 70m

Posted by nsa1958 > 2014-03-12 00:47 | Report Abuse

can someone throw some light on the worst scenario if this company to be delisted by bursa .

Posted by JAMESOOI > 2014-03-13 17:22 | Report Abuse

Bursa Securities’ approval for an extension of time of up to 31 July 2014 to comply with PN17 of the Listing Requirements for MAAG.

Posted by mg42 > 2014-04-02 07:40 | Report Abuse

Company is good, but the boss is er..........................er....................er..........

Posted by Funtrade > 2014-04-14 19:50 | Report Abuse

MAA Group takes control of tuition centres

http://www.thestar.com.my/Business/Business-News/2014/04/14/MAA-Group-takes-control-of-tuition-centres/

Listed company buy over a god damn Tuition centre =.="

Posted by reachabbler > 2014-04-16 08:30 | Report Abuse

They have owned the Tuition centre for 70% stakes, just add 30% to fully control it?! Tuition centre only contribute minimal profits for the group except they expand it to few hundred centres all over Malaysia. Better to use their RM1.6mil to expand their MAA Cards business.

Posted by coolwater > 2014-05-07 22:30 | Report Abuse

This counter was traded from 0.62 to 0.65 for the past few months. It was under PN17 since Sept 2011.It was already more than 3 years and the company still giving us by saying the Company is still in the midst of formulating the Plan to regularise its financial condition . What has happened to the board of directors? I dont see any reasons why they take such a long time to come out with a plan, it is not a year, it is 3 years plus already. What are they doing all the while? looking for a tuition centre seems the only things they do to uplift the company's earning? We dont have further information regarding what they plan to do with the money from the disposal of MAA Assurance to Zurich. What are they investing, are they putting the money on something beneficial to the share holders? Do they forsee the future of the company and when they can come out with a plan to uplift from PN17? The latest announcement sounds worry to me that the company has signed settlement agreements and paid settlements for approximately Rp 100.6 billion gross claims. How much is Rp 100.6 billion converted to ringgit Malaysia?

Posted by coolwater > 2014-06-04 22:32 | Report Abuse

The board of directors are seeking the approval of a handsome director fees to be paid to them yet they seem not doing anything to help to uplift the status of the company from PN17. So sad to hear the same wordings every month. Couldnt they come out with a plan to regularized the company's business? We hope by the end of July, the SC would not extend further for the board to submit any plan of any kind. this can only force the board to act promptly. If directors couldnt do anything, they should engage professionals from investment banker to assist them. Please dont say again that the boards are still in the midst, you all have in the midst for years already.