Current hurdle 0.95....than 0.97.....than 1.00

I was waiting to collect some more at RM0.895. Looks like won't happen.....buy back came in before good hearted sellers :(

Once buy profitable business, than after 2 quarters of profit, can apply to get out of PN17, once get approval to get out of PN17, can easily go beyond RM2.33. Time line in about 12 months.

At the same time, I would like to thank those people who sold and enable me to pick up when it was going down at 0.925/0.915/0.91 almost at the bottom 0.885/0.895 was trying to pick up some more at 0.925 but couldn't.

So many good people around, let me earn easy money. Thank you so much.

I think this time will go above RM1.00.

I see fearful comments, means it's time to be greedy.....Hehehe

Yes, consolidating nicely at this level. I am waiting for their quarter result towards end of the month to confirm the cash and NTA per share. Also want to confirm if got more dividends.

My dividend adjusted charts is still looking good. Long term up-trend still in-tact.

I feel it is going to quiet till news of a purchase of a profitable company. Stock will than rally by over 30%, The catalyst will be when news out of PN17, can more than double from current levels.

Traders won't like this stock, long term investors with patience will be rewarded.

I have accumulated a bit more late last week and early this week. Am still bullish on this stock.

Collected a bit more at 0.885

Agree with GTH, Management will support back. Please drop some more, I want to use dividend money to pick up more. Opportunity to make additional 10+% return.

I picked up a bit more at 0.915 & 0.92. Thank you to those who sell to me today.

Enjoy!!!

I think will be holding between RM0.985~1.00 until news out on the business they going to buy. It might get quiet for a while. Once news out, than will have excitement again. In the mean time, go for a holiday with the dividend money :)

If we assume that the treasury shares will be cancelled, as they did in the past, this will increase the NTA per share by a bit.

LimWerty, You are welcome. I do not have any other group chat. Sharing everything here at this forum.

GTH1234, MAA is classified as PN17 due to sale of core business a few years ago. Than due to IFSA, could not get out of PN17 as main biz was MAAT, recently disposed MAAT and no longer need to follow BNM IFSA.

We are waiting for them to announce purchase of new profitable biz, than after 2 quarters of profits can come out of PN17.

Once out of PN17, as MAA giving better dividend yield than FD, expect institutional funds will buy MAA. Causing a surge in price.

WGE1189, should have average down cost after ex-date at 0.80. If not, no worries, now making money already

Soon RM1.00......than when announce buying company, will hit new high, when out of PN17, another high!!!

My year end family holiday is fully paid by MAA. Thank you, MAA.

MoneyCashRich, where your good friend, Danny123? Hahaha

Can't wait for pay day and dividend, will buy some more. Hope stays here for a while.

This actually makes sense. Based on my calculation, cash per share is about RM1.21~RM1.22 after special dividend and today's buy back.

Reading the latest Edge weekly, there is a group of investors who have pooled RM200 million to actively trade in Penny Stocks (stocks priced less than RM1.00). If the share price is too far away from the cash per share, there could be a risk of a hostile take-over of MAA group. One only need around RM120 million to take control of MAA (>50%) at today's price.

If I was on MAA board, knowing this risk, I will have 2 things to do very quickly:
1) Make the share price get close to the cash per share; and
2) Buy a profitable business costing about RM75~RM100 million ASAP.

Both of this will be good for all of us who have been holding this share for some time now. We will gain from
1) Immediate capital appreciation via share buy-back and support of share price; and
2) With profitable business, will get out of PN17 sooner.

I am recommending people to buy this share but decision and risk is yours!

Excellent!!! They will support all the way to RM1.00. Buy now and can make 19% return. Free money!!!

Thanks JamesOoi, my analysis same as yours. Except my cash per share calculation a bit lower.

My time frame is 18 months (as yours, end of 2017/early 2018) for stock to increase by 150% from the current level.

When stock was RM0.70+ shared with some friends to buy, most said, already gone up and did not buy, again at 0.87, tell them to buy and didn't; now regretting. We have got 2 dividend since than, RM0.03 and RM0.35 totalling RM0.38. From those who bought, I have had a few free lunches and after hours drinks. Hahahaha. I am telling people, can still buy/add some more.

I am recommending friends to buy, but decision and risk theirs.

I am baffled, expected MAA to be trading much higher than this level by today.

I should have waited to buy more today. Yesterday in at RM1.17. Could have saved a little.

Picked up a bit more at RM1.17. Started collecting MAA almost 2 years ago. Been very good so far, with dividend and capital appreciation. Will ride the wave for some time longer. My time span is another 18 months.....unless something drastic happens.

Hear, hear

We can actually calculate the current cash per share with a few assumptions:

The easiest figure would be the number of shares. Here we assume, the treasury shares will be cancelled.
Total number of shares: 292,692,252
Treasury Shares: 4,805,200
Net number of shares: 287,887,052

Now the cash portion:
1) The cash balance based on 31st Dec 2015 audited accounts is RM157,959,000
Only taking the company portion and not the group portion. Assuming:
a) the group portion belong to MAAT that will be transferred to Zurich with the sale of MAAT. This is being conservative; and
b) during the year, the cash position remained the same at the company level.

2) Sale of MAAT (net of 75% to MAA) will be RM393,750,000. Estimated expenses RM2,500,000 and RM93,750,000 will be paid in 2 years time. So the net amount of cash from the sale excluding portion being received in 2 years time is RM297,500,000

As of 1st July 2016, the cash position is assumed to be RM455,459,000. Or cash per share of RM1.58.

This does not include the receivable of RM93,750,000 or another RM0.33 per share in 2 years time.

Management last supported the price with share buy-back at RM0.98~0.985. I would think they will continue to support the price at this level even after the ex-date.

Why? For the simple reason the cash per share is worth more than this. If they do not support, MAA could be a target of a hostile take-over. I am sure the majority share-holders wouldn't want this.

It's ok. I started buying MAA at RM0.67 and continue to pick up all the way bit by bit, buying in the 0.70s, in the 0.90s and at RM1+. Last I bought was RM1.16 last week. For you, maybe high, for me still got value. Let me share with you why I am buying and why I think got value:
1) Cash per share today after selling MAAT is RM1.55 and NTA per share is 2.36. Before special dividend. To me share is under valued.
2) With cash, they committed to giving dividends yields higher than FD. Chairman said this at EGM.
3) Once buy a core profitable business can come out of PN17 status. Expected out in 3rd Qtr 2017.
4) With dividend policy, out of PN17, funds managers will start investing in the share. This will be Quarter 4 2017.

This is my timeline. As you can see, I am taking a longer term view. Buy before fund managers buy. Don't get me wrong, I will continue to evaluate how management is doing and match to the timeline. Continue to evaluate and make necessary decision.

BTW can you please share with me what is a good stock to put money in today.

To me, at this point in time, MAA looks bright compared to other counters. Not recommending anyone to buy MAA but sharing my thoughts.

Here goes Danny again. Talking only, no facts and figures. Danny still not answered the questions I posed to him on 29th June.

Anyway, since he bring up Melewar and Mycron again, these companies are in the steel industries. Like I said before, please do a financial analysis of these 2 companies and compare them with others in the steel industries. The financial analysis for both of these 2 companies are much better than others in the same industry. A simple analysis would be PBV, both of these companies shows better multiple than others in the steel industry.

Mycron shares a year ago was about RM0.30 today RM0.425. An increase of 41.67% in 1 year.

Melewar shares a year ago trading at RM0.21 today RM0.33. An increase of 57.14% in 1 year.

In this tough market since a year ago, management has given better returns than the market as a whole. I cannot understand what makes you say management bad? If you know something I don't, please share specifics. Make statements with facts and figures. Thank you.

You are welcome, ChewYee.

Isy1993, before asking questions like this, please go study their financials, especially their balance sheet. Than read the announcements and annual reports to understand that they are in PN17 because of having sold their core business and restrictions in FSA to get out of PN17. Not because they are financially distressed.

Steve, to calculate the annual yield. You will have to take the total annual dividend received/to be received in a year. We already received the first interim dividend of RM0.03. Now a special dividend of RM0.35. And expecting a second interim dividend in September of RM0.03. Giving a total dividend of RM0.41. Thake this RM0.41 divide over the price you bought the share and times with 100%. So annual dividend very much higher. That is why Moneycashrich said we getting a windfall!

Steve, dividend yield would be dividend amount divided over share price and times 100%. So yield would be different for different people, depending on what price they bought the share.

Say you bought of RM0.50, than your yield would be 70%
If bought at RM1.00 than your yield would be 35%
If 1.20 than 29%

Navin, yes there no tax on dividends. Refer to section 108 of the income tax act. Last time used to be taxed, than common sense prevailed and it is considered as a double taxation. Company already paid corporate tax, so why need to pay tax again?

Yes, ex-date is 19th July. To qualify for the div, need to buy latest on the 18th of July (1 day before the ex-date) to get the dividend. Do not look at the entitlement date.

When you set up your trading account, if you have given your bank information, they will do a on-line transfer/directly credit into your bank account. If not, you will have to wait for a cheque. No credit to trading account. Better check with your broker on how your account is set up. My advice for them to transfer to your bank account. Get money faster this way.

On the ex-date, the opening price will be adjusted downwards by the dividend amount (in this case RM0.35) from the previous closing price.

Wow!!!! Sooner than I expected. Fantastic!!!

I was kidding about the Hari Raya Haji. Normally, they announce their 2nd quarterly results towards the end of August. I would think that they would announce the special dividend at the same time. To me, this would be the latest, hopefully sooner.

Raya is day after tomorrow. Bosses probably cuti already. I don't think the announcement will be before Raya.....but surely before Raya Haji :))

Need for it to break RM1.23, the next resistance level. Than expect to go up to RM1.55, consolidate there before see how high can go. I like that it is going up slow and steady and consolidating very well at each level.

Huhuhu.....when declare dividend stok will fly. Can't wait to see next quarter report. Than can do analysis.

Happy Holidays MCR

Danny, are you saying that this management:
1. cannot be trusted,
2. will spend money and over pay for assets/company they buy
3. won't be out of PN17
4. should not have sold takaful licence
5. the share will go up than will crash

After saying all the above, you hope MAA can be different. I don't understand.

Also, if you know management bad, why you buy this share? Why you not sell after EGM?

Reason people not sell is they know got value and see price still got upward momentum. Are you trying to scare people to sell so you can buy cheap?

As a small player, MAA Takaful won't be able to survive in the new up-coming open environment. If this deal did not go thru, stock will be worthless. Boleh tutup kedia. Thank God over 98% of the share holders saw this.

Looking at other counters in the steel industry, comparing the price to book value, Melewar & Mycron has a higher multiple than many other steel counters. Looking at financial analysis, we can say Melewar & Mycron have better valuation than it's peers. So when I think for myself, the owners have done a better job than others in the same industry. I don't understand where you are coming from, Danny.

Danny, have you sold your shares?

Welcome, guys

Opps.....forgot to add 2 more:
7. Intend to buy a profitable company by year end, and after reporting 2 quarters of profit can apply to be out of PN17. This time next year will still be PN17. After that will make application.
8. 2017 with Brexit, economy dont look too good. As a cash rich company, can buy good biz cheap.

From the EGM:
1. Sale of MAAT will complete by Thursday 30th June. No exit clause for Zurich. So no need to worry about Brexit.
2. Won't be de-listed as bursa understands they are caught in between FSA & Bursa requirements.
3. When buying company, will buy no more than 25% of NTA. So no need for EGM. Bursa require EGM when buying a company 50% or more of NTA. Buying a few companies so not dependent on performance of 1 company. Away from financial company as this is too capital intensive.
4. Will continue to give dividends that yields 4~5%. This is to make stock attractive and ensure higher rate than Fixed Deposit.
5. Not taking company private as insufficient funds.
6. Cash per share after sale of MAAT will be RM1.55 and after special dividend will be RM1.20.

Voting:
98.67% Yes
1.19% No
0.14% Spoilt Votes

I invested in MAA because I wanted to have good returns from this stock. In terms of Dividends and increase in stock price.

Let's see the options:
By voting YES, I would be getting a dividend of RM0.35 per share plus potential future dividend; and/or will see the stock price rise to a potential of RM2.00 (the NTA at that point in time). Meets my objective. Total return of RM0.35 + RM0.80 = RM1.15

By voting NO, because want to push for an extra dividend of RM0.25 for a total of RM0.60. In the process risking the RM0.35 dividend and for the stock fall back to RM0.65. Or even worst, risk the stock being suspended for not submitting regularization plan.

Reaffirms my earlier vote. Or like JamesOoi said earlier:

VOTE YES, YES, YES...

Completely agree with you Cipta.

Me too support YES vote. At this point in time, sale of MAAT is good for company and will be good for share price.

Study the insurance industry, detariffication of insurance industry has started. MAAT won't survive in the new environment. The sale of MAAT is timely and getting a good price for it.

"MIGHT" raise capital via right issue or "MIGHT NOT" is for a different day. When that day comes, decide what to vote than.

Company will NOT be taken private. They have already said this. Please READ the announcements/circulars. Many time BOD have said they will MAINTAIN listing status. If they acquire a new company, they would need NEW approval.

Now, the EGM is for the sale of MAAT. This is a good thing. Vote YES.

When they want to buy other assets, that is a different thing. Than you decide what to vote. Do not jump the gun.