MAA GROUP BERHAD

KLSE (MYR): MAA (1198)

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Last Price

0.39

Today's Change

+0.005 (1.30%)

Day's Change

0.385 - 0.39

Trading Volume

65,000


7 people like this.

3,371 comment(s). Last comment by SCM2023 1 day ago

beluga

271 posts

Posted by beluga > 2021-01-13 12:41 | Report Abuse

maybe next step is to apply for the Digital Banking License. MAA is not new to financial services sector. Should leverage on its experience in financial services and take risk in the new digital banking space. Maybe MAA would have upper hand among others in getting the license from BNM because MAA used to be regulated under BNM's FSA.

https://fintechnews.my/25839/virtual-banking/bank-negara-malaysia-to-issue-up-to-5-digital-banking-licenses-in-2022/

jamesooi

397 posts

Posted by jamesooi > 2021-02-28 13:56 | Report Abuse

Good things are coming to MAA, In 2020, was the year of fear and Lack of business confidence due to COVID-19. In 2021, it is the year for growth and Prosperity. Business Confidence is coming back and I am more optimistic in 2021. MAA had reported profits for the past 3 quarters to 31/12/2020.
So PN17 shall be lifted soon. Now the fear is the highest and it is right time to accumulate the shares.

As I see it,
MAA NTA as at 31/12/2020 is RM 2.02 as compared to NTA as at 31/12/2019 was RM1.79
a great improvement in a year. EPS is RM 0.1509 and P/E is 4.64. (based on price RM0.70 per share as at 26/02/2021),

From Now to May 2021
Profit reported as at 30/06/2020 was RM 23.1 Mil,
Profit reported as at 30/09/2020 was RM 22.7 Mil,
Profit reported as at 31/12/2020 was RM 24.3 Mil,
If Profit forecast is able to maintain for the next quarter until 31/03/2021 shall be RM 22 Mil, the rolling 4 quarters profit shall be RM 92.1 million.
If it is still PN17, Share price is not going move up much and resistance of RM0.85 per share.

Once PN17 is lifted, other Funds shall be able to buy the shares, it will create more demand and share price will have to reflect the true market value rather than demand from retail investors and trading with/against major shareholders. Forecasted EPS shall be RM 0.35 based on rolling quarter to 31/03/2021, and at current P/E at 4.64 , MAA share price shall be reflected the true value at RM 1.62 per share based on P/E4.64.

jamesooi

397 posts

Posted by jamesooi > 2021-02-28 13:58 | Report Abuse

If PN 17 is lifted, by 28 February 2022,
If MAA profitability is able to maintain its forecasted Profits of RM 22 mil per quarter for the whole year 2021 and profit forecasted shall be RM 88 mil. With a paid up capital is 263mil shares. Forecasted EPS for 2021 shall be RM0.334. Based on industry P/E of 4.64 to 9.025 times. The MAA share price shall be valued at RM1.55 to RM3.02 by March 2022.

MNRB P/E is 4.37 as at 26/2/2021
TUNEPRO P/E is 16.55 as at 26/2/2021
TAKAFUL P/E is 10.54 as at 26/2/2021
MAA P/E is 4.64 Current P/E as at 26/2/2021
The average P/E for 4 companies are 9.025 times

chamlo

1,163 posts

Posted by chamlo > 2021-02-28 16:53 | Report Abuse

2021 no dividend?

minher

317 posts

Posted by minher > 2021-03-01 16:41 | Report Abuse

MAA LIMIT UP !

Posted by GorengHealthcare > 2021-03-01 16:47 | Report Abuse

last minute sapu kaw2!

caonima

323 posts

Posted by caonima > 2021-03-01 18:51 | Report Abuse

tomolo limit up time, hold tight

hope888

32 posts

Posted by hope888 > 2021-03-01 20:15 | Report Abuse

Why Maa share is going up? What is the news - ( Out of PN17 or new offer deal) ?

SiLiaw

209 posts

Posted by SiLiaw > 2021-03-01 21:11 | Report Abuse

out of PN17 very soon, dont miss the boat

investorbat

1,330 posts

Posted by investorbat > 2021-03-02 10:28 | Report Abuse

NTA 2.02,out of PN 17 very soon,another MGO coming again since 2019,this time offer price not less than $1.80

beluga

271 posts

Posted by beluga > 2021-03-02 11:09 | Report Abuse

I am guessing that the company will be out from PN17 very soon and will bid for digital banking license.

investorbat

1,330 posts

Posted by investorbat > 2021-03-02 21:39 | Report Abuse

@Navinshah,we cannot stop others from selling.If u think the stock worth above $1.50 after 3 Q of earning and NAT of $2.02,just keep.TY may offer again since MAA starts to make money after long time losing.His last SCR offer $1.10 rejected by minority shareholder.Even the lifting of PN 17 will boost the share price above $1.Just my 2 cents

LiTech

63 posts

Posted by LiTech > 2021-03-03 08:53 | Report Abuse

Listen to yourself than those people with self interest. There are few investors here kept telling you how much MAA worth for many years and even encourage you not to sell to the previous offer. If you would listen to them, you would have lost quite abit of opportunity in other better companies. It is just like Bitcoin where many people condemned it as scammed investment but result is what matters. If you would put all your MAA investment in Bitcoin or any cryptocurrency last 2-3 years and stop listen to these people, you would have increase your wealth by few folds. I am not encouraging anyone to buy bitcoin and there are many more opportunities in KLSE or other stock markets. DON'T LISTEN TO PEOPLE WHO WANT YOU TO SINK WITH THEM

LiTech

63 posts

Posted by LiTech > 2021-03-03 09:09 | Report Abuse

You are who you are and do not be influenced by others who loved to plant their interest into your brain. If you listen to their traditional promoting, you would have lost quite alot since yesterday till now

bone

968 posts

Posted by bone > 2021-03-03 17:56 | Report Abuse

this stock was use as pump and dump game by some feng shui stock master sifoo la..

danny123

1,158 posts

Posted by danny123 > 2021-03-03 23:39 | Report Abuse

Litech , u ve a very good point.

CyberShot

20 posts

Posted by CyberShot > 2021-03-05 10:47 | Report Abuse

Litech, true enough because i did get into the trade by their nonsenses and lost a huge sum. These people maybe knowledgeable but produce no result in their trade.

hazli

85 posts

Posted by hazli > 2021-03-12 13:00 | Report Abuse

KUALA LUMPUR (March 11): A majority of life insurance companies in the country are extending financial assistance to their policyholders who may develop side effects or complications resulting in hospitalisation from Covid-19 vaccinations.
Life Insurance Association of Malaysia (LIAM) said the coverage includes hospitalisations costs that were medically necessary and reasonable due to side effects from COVID-19 vaccination under the National Covid-19 Immunisation Programme.
A number of life insurance companies are also offering cash relief programme for side effects under their respective Covid-19 vaccine fund or medical assistance programme,” it said in a statement today.
It said the assistance includes reimbursement of medical bills for Covid-19 patients and post Covid-19 vaccination support for hospitalisation due to vaccine side effects; medical assistance and special death benefits; hospitalisation income; and cash relief.
Chief executive officer Mark O’Dell advised policyholders to contact their insurance company to find out more about the assistance offered in the event that they may develop side effects due to the Covid-19 vaccine.
While applauding the government’s proactive efforts to protect the rakyat, he also urged Malaysians to play their part in the COVID-19 battle by registering for the immunisation programme via the MySejahtera application.

Posted by Valuehunter > 2021-03-15 14:10 | Report Abuse

Will Koon Yew Yin buying MAA? Now MAA traded at PE 5.7.

Posted by Valuehunter > 2021-03-15 14:38 | Report Abuse

Rumour said KYY accumulate MAA 1198.

Posted by Fattwong > 2021-03-18 14:38 | Report Abuse

无常老师介绍MAA。买进。

markus

56 posts

Posted by markus > 2021-03-18 15:14 | Report Abuse

I think there is probability major shareholder will do a voluntary general offer (not SCR) like Jardine’s second attempt in takeover of cycle carriage Bhd.

https://www.theedgemarkets.com/article/jardine-ccl-makes-fresh-takeover-bid-cycle-carriage-bintang-rm240-share

NKBlog

104 posts

Posted by NKBlog > 2021-03-18 16:52 | Report Abuse

MAA controlling shareholder offered RM1.10 in 2019 to take the company private but was rejected by the minority shareholders...

xox9989

112 posts

Posted by xox9989 > 2021-03-23 11:48 | Report Abuse

The Company had, on 6 November 2020, announced that Bursa Securities had vide its letter dated 6 November 2020, granted an extension of time of up to 30 April 2021 to submit the Plan to the regulatory authorities.

Further the Company had, on 24 November 2020, announced that an application has been made to Bursa Securities on 24 November 2020 in relation to a waiver from having to comply with Paragraph 8.04 and Practice Note 17 of the Listing Requirements. MAAG will make the necessary announcements in due course if there are further developments in relation to the said application.

This announcement is dated 1 March 2021.

xox9989

112 posts

Posted by xox9989 > 2021-03-23 11:51 | Report Abuse

Anyone know it take how long to process the upliftment PN17 application ? MAA submit application on 24 Nov 2020. Now already almost 4 months.

jamesooi

397 posts

Posted by jamesooi > 2021-03-23 12:46 | Report Abuse

Looks like someone is accumulating and push higher and is going to reach RM1.10 soon, and major shareholders have to offer better price now.
Major shareholders are going to be very unhappy now and someone is interested in this counter. If break RM0.96 and keep buying it will reach 1.10 very soon and good news is coming.

beluga

271 posts

Posted by beluga > 2021-03-23 13:15 | Report Abuse

It could be ...... a) out from PN17 b) some sort of takeover again , second attempt c) new shareholder/s accumulating d) new development on investment (eg. bidding for digital banking license, manufacturing business?) e) punters want to goreng/gamble

beluga

271 posts

Posted by beluga > 2021-03-23 13:38 | Report Abuse

how long to process the upliftment PN17 application ?

It is at the full discretion of Bursa Malaysia

The current CEO of Bursa Malaysia is Datuk Umar Swift since Feb 2019.

He was the CEO / Group Managing Director of MAA from Sep 2006 until Feb 2019 ... more than a decade ...about 13 years at helm .. making MAA from unhealthy to a very strong and healthy company, financially. With that skill, no wonder he was head hunted to lead Bursa Malaysia.

Honestly, I do not know why it is taking Bursa Malaysia so long to process the upliftment. No one else know MAA situation better than Datuk Umar Swift. One cannot stop to speculate there must be something else going on ...

NKBlog

104 posts

Posted by NKBlog > 2021-03-23 15:22 | Report Abuse

MAA need to submit proposal (eg. injection of new business) to Bursa for upliftment consideration.

jamesooi

397 posts

Posted by jamesooi > 2021-03-23 17:49 | Report Abuse

Wow, closing on a solid Candle RM0.98 with RM0.075 add today and MAA has never so bullish before.

Jeffreyteck

4,246 posts

Posted by Jeffreyteck > 2021-03-24 07:43 | Report Abuse

Lol, insiders may take some times to collect then only announce? As for authority, believe they are honest and professional and will not do the same.

Snapbuy

37 posts

Posted by Snapbuy > 2021-03-24 08:08 | Report Abuse

Last time they offer rm1.10 to privatise MAA when MAA still loss making. Now MAA is making huge profit. If they want to privatise again, then offer price must higher than rm1.50.

Snapbuy

37 posts

Posted by Snapbuy > 2021-03-24 08:26 | Report Abuse

Old article from The Edge Weekly. Why minor investors reject the offer.

MAA Group Bhd’s EGM on the morning of May 29 could be an interesting affair. A group of minority shareholders is believed to be planning to scuttle a privatisation bid — via a selective capital repayment (SCR) of RM1.10 per share — and seek more compensation from management.

Seeking to take the group private is Tunku Datuk Yaacob Khyra who, via the Melewar group, controls 38.67% of MAA. As an interested party, he cannot deliberate on the offer. Yaacob is the only substantial shareholder in MAA.

The Edge understands that the minority shareholders have the required numbers to scuttle the deal. According to one of the shareholders, “One group looking to stop the privatisation has 18 million shares or a little more than 10% of the voting shares.”

Another source says among the shareholders looking for a larger payout is Andrew Pegge, the managing director of Laxey Partners Ltd, who is said to have accumulated a stake of more than 3% in MAA.

The source adds that Pegge and Laxey could accumulate more shares in the days before the EGM.

According to the Circular to Shareholders, among the conditions of the SCR is that it must not be voted against by more than 10% of the non-interested shareholders of MAA.

Back-of-the-envelope calculations indicate that 18 million shares works out to 10.73% of the 167.74 million eligible voting shares.

The main grouse of the minorities is the payout of RM1.10 per share, which works out to RM184.51 million.

As at end-December, MAA — excluding its insurance business in the Philippines — had total assets of RM447.13 million, of which 51.7% or RM231.31 million was cash.

As at end-December, MAA’s net asset per share was RM1.94, which means the SCR of RM1.10 is at a 43% discount to the company’s net assets.

According to the Circular to Shareholders, the SCR offer price of RM1.10 represents a discount of 76 sen (40.9%) to 98 sen (47.1%) to the estimated fair value per MAA share, which ranges from RM1.86 to RM2.08 (of which about 85 sen is attributable to cash and cash equivalents per MAA share as at end-December.

It is also worth noting that in June 2016, Zurich Insurance Group AG acquired MAA’s 75% in MAA Takaful Bhd for RM364.4 million and, according to MAA’s FY2018 annual report, the remaining RM93.75 million of the sale consideration from the disposal is receivable at end-June this year, which would increase MAA’s cash hoard.

Mercury Securities, the independent adviser for the SCR, says MAA also has RM66.53 million invested in financial assets, which when liquidated could further increase its cash pile.

Mercury Securities’ view is that the proposed SCR is not fair in view of the SCR’s low offer price of RM1.10, but reasonable as it provides an opportunity to entitled shareholders to exit to realise their investments in MAA at the SCR price, at a significant premium to the historical market prices.

One minority shareholder laments that the MAA board has a duty to find an asset to buy and if it does not, it would be best to return cash to the shareholders. He also questions why the board has not come up with a revised proposal and why the EGM is being held in end-May and not end-June after the money from Zurich has been collected.



Yaacob’s take

In a brief phone conversation with The Edge, Yaacob says minorities have to take into account that MAA is a Practice Note 17 (PN17) company.

“There is a risk that MAA will be delisted,” he says.

However, the minority shareholder suggests that MAA may require its shareholders’ approval to be delisted, similar to the case of Hovid Bhd, which was delisted late last year.

MAA has been a PN17 company since September 2011. On Friday, MAA announced that Bursa Malaysia had granted the company an extension until Oct 31, 2019, to submit a regularisation plan.

Yaacob adds that comparisons with other SCRs are not fair as MAA is the only PN17 company to undertake such an exercise.

He adds that the offer price cannot be changed as the circular is already out. “There is no way to change it — Melewar can only make another offer in 12 months,” he says, referring to Rule 21 of the Securities Commission Takeover, Mergers and Compulsary Acquisition Code.

On MAA’s large cash pile, Yaacob says that the cash should be looked at as an asset and, as such, the SCR of more than 57% of MAA’s net assets is acceptable.

“Cash is an asset anyway,” he says.

Asked why MAA had not utilised its RM231.32 million cash hoard as at end-December to buy new assets, Yaacob replies that there were no good assets available.

“Instead of spending RM180 million on a business that is not that good, I had better give it to the shareholders.” The offer of RM1.10 works out to a total payout of RM184.51 million.

He adds that in the current environment, even companies with a great track record may not perform in view of the ongoing China-US trade war and the uncertain conditions in Malaysia.

Snapbuy

37 posts

Posted by Snapbuy > 2021-03-24 09:22 | Report Abuse

Look like going to limit up !

Baobab

113 posts

Posted by Baobab > 2021-03-24 14:01 | Report Abuse

Luckily the SCR in 2019 did not go through. Else will be a big loss to the shareholders.

Alipapapa

423 posts

Posted by Alipapapa > 2021-03-24 14:51 | Report Abuse

from the price trend. MAA should out from PN17 very soon. Smart money keep buying.

Alipapapa

423 posts

Posted by Alipapapa > 2021-03-24 14:55 | Report Abuse

Tengku Yaacob willing to pay RM1.10 for PN17 stock during year 2019. How much he willing to pay now ? How much the investors willing to sell ?

beluga

271 posts

Posted by beluga > 2021-03-24 17:39 | Report Abuse

yet to know who is buying.

in an IDEAL situation, it would be great to have a foreign fund to make a hostile bid. due diligence has been made in 2019 with respect to the estimated fair value of the company at around RM2.19 per share. hostile bid is an extremely rare practice or almost non existence in malaysia capital market landscape . just saying, how nice if that is the case. #dreaming :)

Alipapapa

423 posts

Posted by Alipapapa > 2021-03-25 14:13 | Report Abuse

Offer price should at least RM1.50 !

Alipapapa

423 posts

Posted by Alipapapa > 2021-03-25 17:26 | Report Abuse

MAA - UPLIFTMENT OF PN17 STATUS
MAA GROUP BERHAD

Bursa Malaysia Securities Berhad ("Bursa Securities") has approved MAA's application for a waiver from complying with Paragraph 8.04(3)(a) and Practice Note 17 ("PN17") of the Main Market Listing Requirements of Bursa Securities ("Main Market LR"). The decision was arrived at after taking into consideration all facts and circumstances of the matter including amongst others, that the Company no longer triggers any prescribed criteria under Paragraph 2.1 of PN17 of the Main Market LR, the latest financial position of MAA as at 31 December 2020 including net assets of RM533.01 million and MAA had recorded three (3) consecutive quarters of net profit up to the quarter ended 31 December 2020, which have been subjected to a limited review by an external auditor.

With the waiver being granted, MAA will be uplifted from being classified as a PN17 company effective from 9.00 a.m., Friday, 26 March 2021.

investorbat

1,330 posts

Posted by investorbat > 2021-03-25 17:38 | Report Abuse

Hahaha,as what i said before,if u know the net assets is $2 n surely will go above $1 after PN17 uplifted why not buy?Danny123 n Cybershot listened to sifu Litech ,miss the bus

dompeilee

11,888 posts

Posted by dompeilee > 2021-03-25 17:47 | Report Abuse

Humans are funny. Ppl with more $ than common sense ganged up in 2019 to accumulate the stock @ 1.01-1.07 agitating for the company to raise its takeover offer.

Then after they achieved their objective, price crashed making it so much cheaper than the 1.10 they claimed was 'too cheap' & these hypocrites didn't even average down a single share!

Too late now =)

Alipapapa

423 posts

Posted by Alipapapa > 2021-03-25 18:13 | Report Abuse

Tomorrow should limit up

caonima

367 posts

Posted by caonima > 2021-03-25 22:09 | Report Abuse

ok news out d, time to sell on news...

Posted by henrygan99 > 2021-03-25 22:43 | Report Abuse

it will fly tomorrow

stock1288

325 posts

Posted by stock1288 > 2021-03-25 23:03 | Report Abuse

Most pn17 counters will surge the next day upon the uplift from pn17. Looking forward to tomorrow's opening!!!

FutureGains

10,307 posts

Posted by FutureGains > 2021-03-25 23:34 | Report Abuse

Insider bought from 70c to 99c...

investorbat

1,330 posts

Posted by investorbat > 2021-03-26 08:29 | Report Abuse

100% limit up because q buy more at 1.29

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