MAA GROUP BERHAD

KLSE (MYR): MAA (1198)

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Last Price

0.35

Today's Change

-0.015 (4.11%)

Day's Change

0.345 - 0.36

Trading Volume

195,100


7 people like this.

3,320 comment(s). Last comment by Hippopotamuska 3 weeks ago

beluga

271 posts

Posted by beluga > 2021-06-22 19:43 | Report Abuse

@Johnzhang I was part of the minorities that blocked the deal. We openly informed the independent directors that we had the numbers in public and in private letter. Yes I was aware that it’s always like a poker game. Except that we did not lie. This group of investors have different objective mainly we're long term investors. We fully respect and understand that every individuals/shareholders is DIFFERENT. Each individual have different objective, different background, and most of all different cost. We were confident then because this small group already recovered most of their costs if not all (through dividends over the years). So this is the main difference between us and the rest. We are in this company for the long term and has been, as long as the company is properly run without any financial shenanigans.

In fact, one of the reasonS that I think there will be another attempt in takeover is that the company did not do any share buyback. If the company did buyback, the minority will be able to block him much easier than before because the eligible pool of voting shares will be reduced. Unlikely he will use the general offer method because he will just own about 54% judging from the previous EGM result.

Again, we openly inform the Offeror, give us a more respectful offer. Please don’t insult us again. If not, don’t waste the company resources and time. We still have the number in excess. It is up to them to believe.

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-06-22 21:28 | Report Abuse

@beluga,. I would reject it too if I were shareholder then. Last weekend I read a bit of the past comments posted by the SCR supporting minorities which to my opinion were unreasonable, unfair and uncalled for. They have forgotten that every shareholder has equal rights. I gathered that the dissenting minorities only asked for $1.30 (ie 20 sen more) which was absolutely not too much to ask for !!
At the time of SCR, nett asset of the group was about $536 mil consisting of $257 mil cash (!!) + substantial liquid investment. It was more likely that the company worth more than $536mil because the insurance outfit usually worth more than book value .
Assuming the company worth only $536 mil ( per nett asset).
To pay $1.10 for SCR amounted to $184 mil only ($1.1 x 167.74 mil share)
Balance after SCR for TY was $352 mil ($536 - $184) which work out to be $3.30 per TY's portion of share.
Hence , Minorities : TY distribution ratio was $1.10 : $3.30. Reasonable?? Absurd !
How could TY and SCR supporting minorities fault the dissenting minorities for blocking the SCR !!
Even if TY agreed to $1.30, the asset distribution ratio would be $1.30 to $3.00 favouring TY by huge margin !
I guess minorities have to wake up from being always unfairly exploited by controlling shareholders .

beluga

271 posts

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

TY can still easily takeover if he wants. That is why I believe there will be another attempt. I've experienced many takeovers before.

Here’s my independent advice to him. TY can reduced his cost of acquisitions by making two separate rounds of takeover. One year after another. First by general offer. Weed off the weaker players. Perhaps he may manage to grab further 20% outstanding shares?

Second round, use the SCR method to deal with the balance 40%....that consists the "stronger players" and the "dead/coma/sleeping/ignorant/couldn't-be-bothered" shareholders. His average cost will be slightly lower. He roughly knows who are the players already. Of course I won’t reveal my card especially in public for now.

Better offer soon before its jewel, Philippines insurance is generating more and more profit and command higher valuation.

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-06-23 17:24 | Report Abuse

@beluga,. I also think he will make another attempt . Is a matter of price.
Only if you feel comfortable , pls share what will be the base line price to you and to the minorities who rejected the last SCR if another offer shall come within next 6-12 months ?

beluga

271 posts

Posted by beluga > 2021-06-23 18:37 | Report Abuse

I can't speak for others. for me, honestly i don't know. I will only evaluate if the time comes. depending on the prevailing conditions then.
also, never show all your cards :)

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-06-24 09:23 | Report Abuse

@beluga, it is not necessarily a bad thing to put forward the price if the dissenting minorities can come to consensus so that thing can move forward. Give TY some degree of certainty as he obviously don't want to fail the second time . Should work for a win win solution.

beluga

271 posts

Posted by beluga > 2021-06-24 10:24 | Report Abuse

@johnzhang i think at 1.50, TY will most likely get enough support. i quite like to stay as shareholder too. doesn't matter if there will be any offer. as mentioned, already recovered most of the costs thru past dividends. i very much like the insurance biz in philippines , a good growth story. Umar Swift left the company in a very good shape. And he is the first foreigner to head Bursa now.

Cipta

971 posts

Posted by Cipta > 2021-06-24 14:33 | Report Abuse

with MAA lift PN17 now, i think it gives TY more option. With listed status and cash pile, TY can do more with big picture in current low interest and some bargain out there.

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-06-24 19:09 | Report Abuse

@beluga, Fair enough. You are very clear of what you want to achieve and don't have to be concern of the day to day share price . I also opine that the insurance unit in the Philippines will do well and shall worth quite a bit above the book value if TY decide to spin it off one day . TY knows the value . He was just over confident that he would get thru the SCR at $1.10 which was also high premium to the 50-60 sen price traded before the SCR news surfaced. Happy investing.

danny123

1,156 posts

Posted by danny123 > 2021-06-27 14:03 | Report Abuse

Money used up to buy small small assets, how to SCR or take private.

NO more hope la or minority share holders still DREAMING.

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-06-27 14:50 | Report Abuse

Buy for 6 sen guaranteed dividend then.

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-06-28 16:47 | Report Abuse

I started picking up some today....

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-06-28 18:12 | Report Abuse

Me too.

Cipta

971 posts

Posted by Cipta > 2021-06-29 17:05 | Report Abuse

i just wonder, as a public listed co, the reasonable and obligation of MAA to change financial year end to suit its major shareholder since the major shareholding no more than half.

Posted by yangyang330 > 2021-07-01 20:47 | Report Abuse

问一下大家,买公司需要开股东大会吗?我想投反对票

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-07-02 17:26 | Report Abuse

Bought at 74.5 sen today.

Posted by yangyang330 > 2021-07-05 20:38 | Report Abuse

公告说什么,有朋友知道吗?是不是买公司太便宜而要上法庭,我英文不好,有朋友可以解释一下吗

Posted by Gore Victor Lee > 2021-07-06 08:58 | Report Abuse

KUALA LUMPUR HIGH COURT CIVIL SUIT NO. WA-22NCC-295-07/2021 EMPIRE HOLDINGS LTD ("PLAINTIFF") VS ITHMAAR DEVELOPMENT COMPANY LTD ("1ST DEFENDANT"), ITHMAAR BANK B.S.C. ("2ND DEFENDANT"), MAAG ("3RD DEFENDANT"), TUNKU DATO' YAACOB KHYRA ("4TH DEFENDANT") AND TURIYA BERHAD ("5TH DEFENDANT") (COLLECTIVELY REFERRED TO AS "DEFENDANTS")

dumbMoney

761 posts

Posted by dumbMoney > 2021-07-07 02:05 | Report Abuse

When a deal is too good to be true, it usually is. So the company is trying to buy a block of Turiya shares cheap from the financier of the shares, and is now sued by the borrower and original owner of the shares. This may drag on for a while depending on the outcomes of the court case and or appeals.

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-07-15 21:21 | Report Abuse

Buy the dip . Pick up some at 73 sen

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-07-15 22:26 | Report Abuse

Me too.

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-07-16 17:01 | Report Abuse

Manage to collect some at 72.5 sen today

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-07-16 17:53 | Report Abuse

Me too.

danny123

1,156 posts

Posted by danny123 > 2021-07-19 18:23 | Report Abuse

Every day got cheap sales , dunt worry

Posted by risktoreward > 2021-07-26 12:29 | Report Abuse

done @ 0.74

danny123

1,156 posts

Posted by danny123 > 2021-07-26 18:52 | Report Abuse

Wah, cheaper coming soon

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-07-26 19:53 | Report Abuse

I will wait for 72 sen.

Posted by AllanTingAS > 2021-07-27 21:40 | Report Abuse

Please share with us the background waiting for 72 sen? Thanks

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-07-27 22:16 | Report Abuse

Last price I bought was at 72.5 sen, so if I were to buy again, it has to be at a lower price.

danny123

1,156 posts

Posted by danny123 > 2021-07-29 22:30 | Report Abuse

Why every day getting cheaper

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-08-02 19:16 | Report Abuse

Not easy to get 72sen , may be can get 5 ,000 share once in a while. Seller are very reluctant to sell below 74 sen.

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-08-03 20:35 | Report Abuse

Surprisingly managed to get 20,000 share at 72 sen today.

danny123

1,156 posts

Posted by danny123 > 2021-08-05 18:17 | Report Abuse

I wait until 0.45 only i buy

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-08-05 18:29 | Report Abuse

I will block you at 0.46 haha.

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-08-13 15:53 | Report Abuse

Bought 20,100 share at $0.71 today .

Baobab

113 posts

Posted by Baobab > 2021-08-17 09:43 | Report Abuse

No more news on the privatization? Good. Then I can gradually increase my shareholding in this company.

danny123

1,156 posts

Posted by danny123 > 2021-08-24 09:37 | Report Abuse

At Rm1.0 brewing
At 0.74 also brewing

How many % brewing?????

Cipta

971 posts

Posted by Cipta > 2021-08-24 10:09 | Report Abuse

Haha haha danny123, i like your comment !

*********

At Rm1.0 brewing
At 0.74 also brewing

How many % brewing?????

Baobab

113 posts

Posted by Baobab > 2021-08-24 11:12 | Report Abuse

Why MAA up again? I was waiting for the price to drop further so that i could up my ante.

beluga

271 posts

Posted by beluga > 2021-08-24 11:24 | Report Abuse

volume so low. anyway the quarterly result report should be good. less motor insurance claims due to the lockdown and most likely good investments return due to equities market still rising.

Baobab

113 posts

Posted by Baobab > 2021-08-24 14:34 | Report Abuse

Probably no one would be willing to sell at this extremely low price. The NTA per share of MAA is currently at RM2.06.

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-08-24 19:46 | Report Abuse

QR out, loss.

danny123

1,156 posts

Posted by danny123 > 2021-08-24 20:52 | Report Abuse

Something brewing??

Predicted ,Company loss 5.8 millions.

Cipta

971 posts

Posted by Cipta > 2021-08-25 10:05 | Report Abuse

something brewing usually mean it is becoming sour.... ki ki ki

Johnzhang

2,955 posts

Posted by Johnzhang > 2021-08-25 13:08 | Report Abuse

Holding steady despite qtrly loss.

danny123

1,156 posts

Posted by danny123 > 2021-08-25 16:33 | Report Abuse

Everyday got brewing dont worry.

End of 2019 invested a college in Damasara around 25 millions , not sure how many student are there now?

College OPEN now?
I want to enrol??

Baobab

113 posts

Posted by Baobab > 2021-08-30 11:23 | Report Abuse

Surprise to see there are still someone disposing MAA's shares at such a cheap price. Some 9k shares just changed hand at 72 cents.

TheContrarian

8,537 posts

Posted by TheContrarian > 2021-09-03 18:52 | Report Abuse

MAA bought into KNM.

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