Sure, sometrhing is on the plate of TY, buying a bunch of businesses with uncertain prospects and using up the surplus cash that can be returned to shareholders. Read the latest company annoncement.
AGM held in April 2018 committed to pay 12 cents within 2 years , Year 2019 paid 6 cents and remaining 6 cents should be made payable in year 2020 April. But notice of AGM received today no mention of such dividend payment.
The money earmarked for dividend will be used to pay for the investments whose approval is being sought at the EGM. So if approved, there goes the dividend.
dunt understand the company has not much business, but every year spends more than RM30 mil for all the company expenses. By 4 years time, all the cash will be eaten away...
The agenda sent to us is very general and without specific intention. Can I rewrite the subject to : Propose cancellation of dividend passed in previous EGM and fully authorized management to utilize it under their full authority?
I have looked at the AGM voting results. Other than the 4% opposing votes which I think is by a foreign fund, only around 2% of the balance 50% shareholders out there voted against the related party transaction resolution. If only another 2% bothered to vote, that resolution could have been blocked, as Melewar's block is prevented from voting, being a related party. All this talk about doing something about it, what happened?
Now Glove stock is goreng sky high, Since Malaysia still has several non-listed glove companies, perhaps TY should consider to sell MAA as a shell to one of the glove factory so Ty and us can goreng the price. :P just my two cents.
NOW is the "best" time for the company to acquire new business which they have been searching for years. MAA got lucky that they did not acquire any business except relatively small education business (school and colleges) before the pandemic crisis. best time to bet now. i hope they make decision soon before economy recovers and valuation gets higher. EVEN IF they make mistake with their bet now, it's so much WORTH it. No one can predict anything. (Yes, go debate if its V, W, U or L ) They waited for years... (kudos for them being patient.. Imagined if they were to rush into hotel business one or two years ago...). If not NOW, when?
TY has been speaking for many years of venture into Manufacturing and is searching the right business. Now we know rm50mil can build a glove factory and all can be done by turnkey contractor and Malaysia no lack of experience ppl in glove industry.
If the previous reason to privatize because the share price under value, then now is the moment to maximize the value of share. Sack the lousy investor banker who only advice share buyback to delist while other are queuing to buy shell to enter the bull market.
We have been waiting for many years. Now is the best time to maximize our cash reserve and listed status. Do something. Now or never.
The money earmarked for dividend will be used to pay for the investments whose approval is being sought at the EGM. So if approved, there goes the dividend.
If took the privatization offer, no need to bother so much. Small investors is unlikely to win. Most of the time experts will say unfair but reasonable, lol.
It has been a long time since MAA paid the last dividend. Anyone knows why no more dividend payment? Does it has something to do with the failed privatization attempt?
I think the NTA per share for MAA is around RM1.85. If privatize, probably we should ask for an offer price that is not less than 10% - 15% discount from the NTA per share, namely around RM1.60 - RM1.70 per share.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
NavinShah
301 posts
Posted by NavinShah > 2020-06-03 15:37 | Report Abuse
Don't sell your shares. TY cooking.