MAA GROUP BERHAD

KLSE (MYR): MAA (1198)

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Last Price

0.39

Today's Change

-0.005 (1.27%)

Day's Change

0.385 - 0.395

Trading Volume

196,000


7 people like this.

3,371 comment(s). Last comment by SCM2023 4 days ago

Cipta

1,013 posts

Posted by Cipta > 2021-06-04 11:33 | Report Abuse

Is MAA venture into glove industry too?

low123

16 posts

Posted by low123 > 2021-06-04 14:15 | Report Abuse

after MMC...next MAA??

low123

16 posts

Posted by low123 > 2021-06-04 14:28 | Report Abuse

CCB 1st SCR failed...now GO higher... guess soon next MAA...

Baobab

113 posts

Posted by Baobab > 2021-06-04 17:48 | Report Abuse

Should buy more when the price slump. The NTA per share is RM2.06. It is expected to grow higher and higher if the company continue to generate profitability.

danny123

1,158 posts

Posted by danny123 > 2021-06-04 21:04 | Report Abuse

Next quar will reduce profit most likely

low123

16 posts

Posted by low123 > 2021-06-05 20:01 | Report Abuse

2ndQ definitely higher profit due to their investment in steel and mining companies...

danny123

1,158 posts

Posted by danny123 > 2021-06-08 21:15 | Report Abuse

Go and read more, maa where got invest in steel?

Maa invested in insurance phil, college in damasara n atc in australia . Atc share loss about half of d value .
Good investment??

Pandai pandai READ.

low123

16 posts

Posted by low123 > 2021-06-10 19:15 | Report Abuse

think u and linda77 tak pandai baca or invest...that why don't like this co...

Posted by sanjeevchadha > 2021-06-15 10:34 | Report Abuse

What happened to dividend of 6 cents to be paid by June 30, 2021!

vcinvestor

403 posts

Posted by vcinvestor > 2021-06-15 11:21 | Report Abuse

its only June 15th...

beluga

271 posts

Posted by beluga > 2021-06-15 15:56 | Report Abuse

its by june 2022. not by june 2021. get ready for another round of takeover before that. why share the company profit with the minority?

Baobab

113 posts

Posted by Baobab > 2021-06-15 16:01 | Report Abuse

should buy more when the price slump....to prevent privatization at unreasonable price later

beluga

271 posts

Posted by beluga > 2021-06-15 16:19 | Report Abuse

the message from the minority shareholders was clear from the previous attempt in takeover. don't waste time and money if the offer is too low. The minorities will reject by headcounts and by shares value again if the offerer uses the SCR takeover instead of general offer. You can try your luck again.

beluga

271 posts

Posted by beluga > 2021-06-16 15:06 | Report Abuse

invisible hands trying to depress the share price so that when the offer comes, it will be seen as being "reasonable" . same old trick

danny123

1,158 posts

Posted by danny123 > 2021-06-16 19:28 | Report Abuse

Pn17 out, long time game over

Johnzhang

2,966 posts

Posted by Johnzhang > 2021-06-17 09:29 | Report Abuse

No dividend paid for FY 2020! This is to frustrate minorities?

low123

16 posts

Posted by low123 > 2021-06-17 12:37 | Report Abuse

U are right, master investor...good analysis on mnrb, mmc, mphb, osk, wce and boustead.

Baobab

113 posts

Posted by Baobab > 2021-06-17 16:05 | Report Abuse

Getting ready to buy more shares...price is coming down.

danny123

1,158 posts

Posted by danny123 > 2021-06-17 19:13 | Report Abuse

If buy more can not go up how?

College closed ? Paid 24 millions dec 2019 for d college?

Baobab

113 posts

Posted by Baobab > 2021-06-18 17:06 | Report Abuse

Who should be responsible for the losses resulting from the investment in such a college?

Johnzhang

2,966 posts

Posted by Johnzhang > 2021-06-19 15:49 | Report Abuse

I am totally new to this counter and have yet to own any share .
Can anyone share what was the privatisation price the unhappy minority shareholders were expecting to receive then ? Did the price reached the offeror well before EGM for his consideration ?

TheContrarian

8,908 posts

Posted by TheContrarian > 2021-06-19 18:07 | Report Abuse

A SCR was proposed at RM1.10 when MAA was trading at around 60 sen. After announcement the following day it went limit up to 90 sen and the days after went further up to around RM1.05. However the SCR failed at the EGM when more than 10% of the minority shareholders voted NO to the offer price of RM1.10 hoping that the offerors might revise the offer upwards. The offerors reacted angrily to the failed SCR attempt. My average cost of MAA was 60 sen and I sold the off all before the EGM at RM1.04 and haven't bought back.

Johnzhang

2,966 posts

Posted by Johnzhang > 2021-06-20 06:25 | Report Abuse

@TheContrarian, you are brilliant! Did the unhappy minorities indicated what price they wanted ? Do you think another SRC attempt will made within say 1-3 years?

Johnzhang

2,966 posts

Posted by Johnzhang > 2021-06-20 06:30 | Report Abuse

I am just trying to gauge whether the gap between what minorities want and what the offeror willing to give remain too big for another SRC to happen. Without SRC opportunity, this stock can be quite full for a long period.

TheContrarian

8,908 posts

Posted by TheContrarian > 2021-06-20 09:59 | Report Abuse

The NTA was around RM2, I think a group of minorities comprising individuals was holding out for at least RM1.50 The offerors reacted angrily after the EGM in an outburst interview with reporters and said something like there will not be another offer ever again.

TheContrarian

8,908 posts

Posted by TheContrarian > 2021-06-20 10:01 | Report Abuse

On the same day after the EGM (it was not suspended on the EGM day) the price of MAA crashed below 90 sen in an immediate reaction to the failed SCR.

TheContrarian

8,908 posts

Posted by TheContrarian > 2021-06-20 10:12 | Report Abuse

@Johnzhang, sometimes we get lucky with our stock picks. I held MAA for over a year, received dividends thrice (dividends were great then at 3% to 6% half yearly). Weeks before the proposed SCR, MAA shares went on a downtrend dipping to around 50 sen and I added on to lower my average cost to 60 sen. Suddenly price suddenly start to creep up but no one anticipated a takeover attempt, most of us were just accumulating for the good dividend yield and expecting bumper dividend from the balance of the sale proceeds from the disposal of the domestic insurance business to Zurich.

Posted by ipohwhitecoffee > 2021-06-20 10:21 | Report Abuse

I will start accumulate this since they exited PN17 and currently undervalued.

TheContrarian

8,908 posts

Posted by TheContrarian > 2021-06-20 10:46 | Report Abuse

@Johnzhang, you can scroll up to the comments in this forum during May 2019 when the EGM was held for the proposed SCR for further details.

Johnzhang

2,966 posts

Posted by Johnzhang > 2021-06-20 11:08 | Report Abuse

@TheContrarian, thanks for the information. Based on what you said, the next SCR may take years until the bitter feeling of the acquirer fade away and until the minorities patience’s wear off. It’s like a tug-of-war.

investorbat

1,331 posts

Posted by investorbat > 2021-06-20 11:34 | Report Abuse

@TheContrarian,do u really think they will never offer another SCR?As the latest annual report TY still holding,40% or 105mil shares.Since MAA is not declaring any dividend since 2019,why TY still wasting time holding tight and not selling single share?He might make another offer or waiting for someone to offer his big block at good price, anyway nobody knows when.Im still holding some at average 0.88,wait for another offer,better than put in FD.Not a buy call,just my thought

Johnzhang

2,966 posts

Posted by Johnzhang > 2021-06-20 11:35 | Report Abuse

Additionally, TY’s stake remain 105,777,084 unit since 2019 despite there were plenty of opportunities to soak up at much below takeover offer price of $1.10. However, there were sharebuyback (SBB) after the failed takeover until mid Aug 20. A total 9.5 mil treasury share from SBB were cancelled in Dec 20. The last SBB was in Aug 20. Why SBB stop despite its share price from mid Aug 20 to end Feb 21 ( 6 months period) was trading between 58 to 75 sen only ? Logically if TY soaks up more cheap share from open market, he can afford to eventually offer higher price for the remaining Minorities to ensure success. All these seem to point to TY’s lack of interest to undertake another SCR soon ..
Just my view for sharing. Glad to hear yours too.

TheContrarian

8,908 posts

Posted by TheContrarian > 2021-06-20 12:09 | Report Abuse

MGO creeping rules not allowing controlling shareholders to increase their shareholdings by more than 2% within 6 months period restrict the share buybacks. A breach of this 2% rule would trigger a MGO which the controlling shareholders do not want.

TheContrarian

8,908 posts

Posted by TheContrarian > 2021-06-20 12:17 | Report Abuse

@investorbat, instead of another SCR, the controlling shareholders might attempt a MGO instead like what Tony Tiah did at TA Enterprise. But they are in no hurry. SCR is difficult to succeed because of strong opposition from the minorities (30% voted NO in the last SCR).

TheContrarian

8,908 posts

Posted by TheContrarian > 2021-06-20 12:35 | Report Abuse

I think at the AGM/EGM in June 2020 (I am no longer shareholder by then) a 6% dividend was approved by the shareholders, to be paid within 24 months. Already 12 months have lapsed. MAA has more than enough excess cash to pay out the 6% dividend but the BOD are deliberately delaying it.

investorbat

1,331 posts

Posted by investorbat > 2021-06-20 13:08 | Report Abuse

I think BOD/TY has no reason to delay it because 6% dividend for 105mil shares could give him few mil $ for his indirect controlling stake in Melewar.Im still try to figure out his next move

Johnzhang

2,966 posts

Posted by Johnzhang > 2021-06-20 15:10 | Report Abuse

For SCR, the offeror is making use of the company's internal resources to fund it. For MGO or GO, the offeror must have his personal or third party resources to fund it. He need about $220 mil to fund the GO if at $1.50. I think SRC is more likely and he is in no hurry to do it . He will only do it when the company retains higher profit to cover the higher price minorities demanded , provided minorities don't shift the goalpost . Dividend for next few years may be in jeopardy,. Just another possibility for investors to think about too.

TheContrarian

8,908 posts

Posted by TheContrarian > 2021-06-20 15:25 | Report Abuse

MGO at a low offer price just to take the offerors over the 50% line.

danny123

1,158 posts

Posted by danny123 > 2021-06-20 21:29 | Report Abuse

U guy still every day hope SCR or MGO???

Baobab

113 posts

Posted by Baobab > 2021-06-21 10:25 | Report Abuse

Is the act of major shareholder in delaying or refusing the payment of dividends considered an oppression of minority shareholders?

Cipta

1,013 posts

Posted by Cipta > 2021-06-21 13:23 | Report Abuse

the main reason TY given during the last SCR was hardly to meet Bursa unreasonale requirements to out of PN17, therefore better to privatized it instead of delisted and thus give a way out for shareholders. I think TY is a creative perosn. IF YOU CANT BEAT THEM, JOIN THEM. Is his motto perhaps. Although he fail the SCR, he successfully sent MAA COE to be BURSA CEO *jokinglah* ..Anyhow..At the end, MAA is out of PN17 too . If he cant beat the minority, hope he can join minorities too to build a bigger company from there. :)

low123

16 posts

Posted by low123 > 2021-06-22 00:13 | Report Abuse

Co must pay at least 6sen dividend by end June 2022.

Cipta

1,013 posts

Posted by Cipta > 2021-06-22 14:40 | Report Abuse

https://www.theedgemarkets.com/article/frances-axa-sell-malaysia-insurance-businesses-generali

Another round of insurance M&A in the region ?

danny123

1,158 posts

Posted by danny123 > 2021-06-22 15:18 | Report Abuse

Baca betul betul,
Buy TURIYA , pay around 24 millions

danny123

1,158 posts

Posted by danny123 > 2021-06-22 15:19 | Report Abuse

BUAYA atau TURIYA????

Cipta

1,013 posts

Posted by Cipta > 2021-06-22 16:47 | Report Abuse

NA of Turiya RM120mil but last year net profit only RM400k. The co own Wisma Chase Perdana, a Freehold 12 story office in Damasara Height.

Cipta

1,013 posts

Posted by Cipta > 2021-06-22 16:50 | Report Abuse

A proforma gain of RM45mil with this entering price from MAA immediate if complete on the said date.

waterbro

80 posts

Posted by waterbro > 2021-06-22 17:11 | Report Abuse

马联保险(MAA,1198,主板金融服务组)宣布以每股18仙或总值2378万7269令吉,向Ithmaar银行收购TURIYA公司(TURIYA,4359,主板科技组)的57.78%股权。

由于触及全面献购门槛,马联保险将以相同的每股18仙价位全部献购剩余未持有的股票。

马联保险倾向于保持TURIYA公司的上市地位。

马联保险发文告表示,每股18仙的收购价比TURIYA公司截至2020年3月杪的每股已稽查净资产53仙折价66.04%,同时比TURIYA公司闭市价24.5仙折价6.5仙或26.5%。

Posted by henrygan99 > 2021-06-22 17:39 | Report Abuse

very good buy for MAA. great discount 18 cent v 53 cents NA . prime property too.

beluga

271 posts

Posted by beluga > 2021-06-22 18:53 | Report Abuse

the purchase will make Turiya becoming MAA's subsidiary. Revenue and profit will be reflected in MAA's book after the transaction.

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