Now the dust has settled down regarding the speculation on how much MAA Takaful is worth and how much Zurich is willing to pay for MAA Takaful.
So, We knew the Proposed Disposal of MAA Takaful for Cash consideration of RM 393,750,000-00 to Zurich subject to signing of S&P Agreement. (it will take 3 to 6 months for the signing of the S&P Agreement)

Many retail investors are wondering what to do with MAAG, Many of my friends keep telling to sell MAAG due to price already up so much. So, what is our decision ?? to hold or to sell MAAG in the near future …. now or in 1 month, 2 months, 3 months or more or hold until the full exercise completed by the MAAG management ………..

For me, I am very very bullish about MAAG due to the following points…….
Point 1. the Proposed Disposal of MAAT for Cash consideration of RM 393,750,000-00,
Point 2. Announcement of the Special Dividend of RM0.35 per share to be paid out upon completion of S&P Agreement of MAAT. (it will take 3 to 6 months for the signing of the S&P Agreement)
Point 3. Based on the MAAG Annual Report 2015 page no. 193 Note no.48
The Cash & Cash Equivalents for Shareholders fund as at 31/12/2015 was RM 251,656,000-00.
The Cash & Cash Equivalents for General Takaful as at 31/12/2015 was RM 56,710,000-00,
and the Cash & Cash Equivalents for Family Takaful as at 31/12/2015 was RM48,879,000-00.
Total Cash & Cash Equivalents for the MAAG as at 31/12/2015 was RM357,245,000-00.
The Cash & Cash Equivalents after the completion of the sales of MAAT and after payment of Special Dividend of RM0.35 per share (RM102,000,000-00), the final cash balance totalling
= Shareholders fund as at 31/12/2015 was RM 251,656,000-00 plus (RM 391,750,000-00 less
RM102,000,000-00) = RM 543,406,000-00
That translates to almost RM 1.87 cash per share.
Point 4. MAAG has an NTA per share as at announcement of the disposal of MAAT is RM2.01.
Point 5. Good track record of Dividend payment by the Major shareholders due to he is also like us, in need of money to finance his other businesses and expenses..
During this period, as a minority shareholder, if you invested in MAAG , you would have make a lot of money if you invested the share from 2012 or 2013 up till now...with a dividend of 18 sens and counting .... on depending when you buy MAAG shares .....
Dividend 2013 - 3 sens
Dividend 2014 - 6 sens
Dividend 2015 - 6 sens
Dividend 2016 - 3 sens and hoping to pay another 3 sens final dividend on later date may be same as year 2015…..
Point 6. MAA chart on 2016 shows bullish and strong uptrend and the share price at the highest point was RM1.28 per share and now at RM1.14 – RM 1.16 per share, still show strong 4 to 5 years uptrend compare to other goreng counters.
Share price has been trending up from 60sens to 70sens to 80sens to 90sens to RM1.00 and now at RM1.14 to RM1.28 per share.
Point 7. Invest in MAA shares, it is a patience game due to good news only that the share price can fly. But this MAAG is an assets play due to sale of business. it takes time to complete the Company restructuring for the sale of the business.

It is an education sharing only and i am not recommend anybody to buy, and if you choice to buy MAAG, it is solely your responsibility on your action.

Now the dust has settled down regarding the speculation on how much MAA Takaful is worth and how much Zurich willing to pay for MAA Takaful.
So, We knew the Proposed Disposal of MAA Takaful for Cash consideration of RM 393,750,000-00 to Zurich subject to signing of S&P Agreement. (it will take 3 to 6 months for the signing of the S&P Agreement)

Many retail investors are wondering what to do with MAAG, Many of my friends keep telling to sell MAAG due to price already up so much. So, what is your decision ?? to hold or to sell MAAG in the near future …. now or in 1 month, 2 months, 3 months or more or hold until the full exercise completed by the MAAG management ………..

For me, I am very very bullish about MAAG due to the following points…….
Point 1. the Proposed Disposal of MAAT for Cash consideration of RM 393,750,000-00,
Point 2. Announcement of the Special Dividend of RM0.35 per share to be paid out upon completion of S&P Agreement of MAAT. (it will take 3 to 6 months for the signing of the S&P Agreement)
Point 3. Based on the MAAG Annual Report 2015 page no. 193 Note no.48
The Cash & Cash Equivalents for Shareholders fund as at 31/12/2015 was RM 251,656,000-00.
The Cash & Cash Equivalents for General Takaful as at 31/12/2015 was RM 56,710,000-00,
and the Cash & Cash Equivalents for Family Takaful as at 31/12/2015 was RM48,879,000-00.
Total Cash & Cash Equivalents for the MAAG as at 31/12/2015 was RM357,245,000-00.
The Cash & Cash Equivalents after the completion of the sales of MAAT and after payment of Special Dividend of RM0.35 per share (RM102,000,000-00), the final cash balance totalling
= Shareholders fund as at 31/12/2015 was RM 251,656,000-00 plus (RM 391,750,000-00 less
RM102,000,000-00) = RM 543,406,000-00
That translates to almost RM 1.87 cash per share.
Point 4. MAAG has an NTA per share as at announcement of the disposal of MAAT is RM2.01.
Point 5. Good track record of Dividend payment by the Major shareholders due to he is also like us, in need of money to finance his other businesses and expenses..
During this period, as a minority shareholder, if you invested in MAAG , you would have make a lot of money if you invested the share from 2012 of 2013 up till now...with a dividend of 18 sens and counting .... on depending when you buy MAAG shares .....
Dividend 2013 - 3 sens
Dividend 2014 - 6 sens
Dividend 2015 - 6 sens
Dividend 2016 - 3 sens and hoping to pay another 3 sens final dividend on later date may be same as year 2015…..

Point 6. MAA chart on 2016 shows bullish and strong uptrend and the share price at the highest point was RM1.28 per share and now at RM1.14 – RM 1.16 per share, still show strong 4 to 5 years uptrend compare to other goreng counters.
Share price has been trending up from 60sens to 70sens to 80sens to 90sens to RM1.00 and now at RM1.14 to RM1.28 per share.

Point 7. Invest in MAA shares, it is a patience game due to good news only that the share price can fly. But this MAAG is an assets play due to sale of business. it takes time to completed the Company restructuring for the sale of the business.

It is an education sharing only and i am not recommend anybody to buy, and if you choice to buy MAAG, it is solely your responsibility on your action.

Why, MAAG is still trading at RM1.15 per share due to PN 17 status.
Only retail players are buying the stock. Institutional buyers are not allow to buy MAAG due to PN 17 status.

This stock is very much undervalue and i am very bullish in MAAG.

Trade with the trend and MAAG is 4 years up trend. Never sell a stock because it seems high priced. I am Trend following and let the profits run until trend end.

Based on the MAAG Annual Report 2015 page no. 193 Note no.48

The Cash & Cash Equivalents for Shareholders fund as at 31/12/2015 was RM 251,656,000-00.

The Cash & Cash Equivalents for General Takaful as at 31/12/2015 was RM 56,710,000-00,
and the Cash & Cash Equivalents for Family Takaful as at 31/12/2015 was RM48,879,000-00.

Total Cash & Cash Equivalents for the MAAG as at 31/12/2015 was RM357,245,000-00

the Proposel Disposal of MAAT for Cash consideration of RM 393,750,000-00 ,

The Cash & Cash Equivalents after the completion of the sales of MAAT and after payment of Special Dividend of RM0.35 per share (RM102,000,000-00), the final cash balance totalling
= Shareholders fund as at 31/12/2015 was RM 251,656,000-00 plus (RM 391,750,000-00 less
RM102,000,000-00) = RM 543,406,000-00

That translates to almost RM 1.87 cash per share.

Yesterday,there was no shares buyback by MAAG management, and with over 1,400,000 + shares traded and i think the smart investors were pick up this stock. This is good sign and i believe share price may go up by RM0.10.per share today. This stock is still undervalue.

OTHERS MAA Group Berhad ("MAAG" or "the Company") Proposed Disposal of 75% equity interest in MAA Takaful Berhad ("MAAT") ("Proposed Disposal")
MAA GROUP BERHAD
Type Announcement
Subject OTHERS
Description MAA Group Berhad ("MAAG" or "the Company")

Proposed Disposal of 75% equity interest in MAA Takaful Berhad ("MAAT") ("Proposed Disposal")
We refer to the announcement made by the Company on 30 November 2015 whereby the Company, Solidarity Group Holding BSC (Closed) (“Solidarity”) and Zurich Insurance Company Ltd (“Zurich”) have jointly submitted an application to BNM on 30 November 2015 for approval of the Minister of Finance pursuant to the Islamic Financial Services Act 2013 (“IFSA”) to enter into an agreement with Zurich for the Proposed Disposal by the Company and Solidarity of their respective 75% and 25% equity interest held in MAAT.

The Board of Directors of MAAG wishes to announce that the Minister of Finance of Malaysia had, by a letter from BNM dated 27 April 2016, approved the proposed disposal of its 75% equity interest in MAAT to Zurich under Section 101 of the IFSA.

As the Proposed Disposal is subject to the execution of a Share Purchase Agreement, further details will be announced in due course.

This announcement is dated 27 April 2016.

I am very bullish in MAAG and going forward MAAG share price is going to be volatile

MAAG market value per share is RM0.995. NTA as at 31/12/2015 is RM1.41 per share.
MAAG with a price discount of RM 0.415 per share.

MAA chart on 26/04/2016 shows bullish and strong uptrend, yet the share price goes up slowly compare to other goreng counters.
Invest in MAA shares, it is a patience game due to good news only that the share price can fly. But I know i invest in MAA due to sale of business and assets plays. it takes time to negotiate for the sale of the business.
This final round of waiting for the approval for the sale of MAA Takaful is not far away for the sale to materialize.
MAA share is the seller market and if you want the shares, you have to pay for higher price in order to accumulate. Demand is stronger than the supply.
So, patience investors to see more improvement in the share price trending up and something good is coming and "Good things come to those who wait"
Do you know how much MAA is worth as a company, and i just do a simple calculation and take a few items from the balance sheet as at 31-12-2015.
Cash after shares buyback as at todate is RM346,658,000-00 my estimated figure. Cash per share in the bank is RM1.20. Today shares price in BURSA is only RM0.985 in the morning session today 26/04/2016.
Shares buyback latest figure is 4,535,200 shares. NTA as at 31-12-2015 was RM1.41 per share . The Management cancelled company shares buyback totalling was 11,661,500. Now MAA Paid-Up Capital of 292,692,252 shares in the market. With the shares buyback as at todate of 4,535,200 shares, the market float only left with 288,157,052 shares.
If the approval for the sale of MAA Takaful is materialize,
Extract from i3investor.comsharing by NOBY on 15/12/2015 on - P/B valuations , Based on last annual report,
MAA Takaful minority interest = 25%
MAA Takaful minority interest book value = RM 29.4 mil
MAA Takaful controlling stake = 75%
Valuation of MAA Takaful (75% stake) on different P/B scenarios
P/B =1x , RM 0.29
P/B =1.5x, RM 0.44
P/B =2x, RM 0.59
If MAA Takaful valuation is 1X, worth RM0.29 per share, the NTA ia worth RM1.70 per share.
If MAA Takaful valuation is 2X, worth RM0.59 per share, the NTA ia worth RM2.00 per share.
I will be happy if the valuation on sale of Takaful is estimated at 1X only, the NTA is RM1.700 per share.
This counter to me is still undervalue stock....... and I am a shareholder of MAAG.
I am very bullish on MAA.
It is for education sharing only and i am not recommend anybody to buy, and if you choose to buy MAAG, it is solely your responsibility on your action.

Crazy127, since you have been patience and keep the shares for so long, and your investment time frame is longer then mine, you must well keep abit longer, patience is the name of the game and going forward, this could be very exciting for the shareholders to see more improvement in the share price trending up.

usually the price will go up before ex - dividend

so many days the price support at 0.98. Bollinger Band is narrowing now and just waiting to breakout.

The sale of MAA Takaful to Zurich is very near to announcement, maybe one to two months and my guess is latest by May 2016. Anyone one to share???

http://klse.i3investor.com/blogs/MplusOnline/91998.jsp

wow, break RM1.00 now

Looks like MAA going to break RM 1.00 today

My target for 2016, my calculation if MAA able to sell MAA Takaful to Zurich, I am happy that MAA can produce the same return like 2015.

MAA share price movement and volatility for 2015 were as follows:-

- 01/01/15 to 31/03/15, open at RM0.585 and closed at RM0.645 with price movement uptrend added RM0.06 for the 1st quarter 2015.
- 01/04/15 to 30/06/15, open at RM0.685 and closed at RM0.77 with price movement uptrend added RM0.085 for the 2nd quarter 2015 with a total gain RM0.185 for 2 quarters.
- 01/07/15 to 30/09/15, open at RM0.77 and closed at RM0.745 with price movement downtrend loss of minus -- RM0.025 for the 3rd quarter 2015 with a total gain RM0.160 for 3 quarters.
- 01/09/15 to 31/12/15, open at RM0.75 and closed at RM0.935 with price movement uptrend added RM0.185 for the 4th quarter 2015 with a total capital gain of RM0.35 for 4 quarters.

Dividend for 2015 was 6 sens and total gain for 2015 was RM0.41 per share.

As a minority shareholder, if you invested at the beginning of 2015 at RM 0.585 per share in MAA , you would have make profit of 70% for just buy and hold for 2015.

MAA share price from 01/01/2016 until today 25/02/2016, open at RM0.94 and closed at RM0.975 with price movement uptrend added RM0.035 as at todate.

Not bad for a PN17 stock, and I believe that if the sale of MAA Takaful is materialize, the share price increasing is just a beginning …....

new shareholders are collecting MAA shares due to yesterday trading with high volume and no shares buyback from the company.

MAA share is the seller market and if you want the shares, you have to pay for higher price in order to accumulate. Demand is stronger than the supply. And it break out yesterday above RM0.965 and it will go higher.

UOB Kay Hian Research - 11 Feb 2016
http://klse.i3investor.com/blogs/UOBKayHian/91214.jsp

MAA chart shows bullish and uptrend, yet the share price goes up slowly compare to other goreng counters.
Invest in MAA shares, it is a patience game due to good news only that the share price can fly. Some time i feel like selling MAA and switch to other goreng counters that has faster returns. But I know i invest in MAA due to sale of business and assets plays. it takes time to negotiate for the sale of the business. I have to be very patience, till today i am still holding this stock for last 4 to 5 years already. My return till to date is 115% since i invested in MAA.
This final round of waiting for the approval for the sale of MAA Takaful and is not far away waiting for the sale to materialize, the shareholders shall see their investment increase in value more......

So, patience, patience, patience is the name of the game and going forward, this could be very exciting for the shareholders to see more improvement in the share price trending up and something good is coming and "Good things come to those who wait"

You are right, Balvin71, Sellers are not willing to sell at lower price now and with Shares Buyback by Management at 0.94 and 0.95 recently, MAA shares scripts are getting less and less to offer for sale, only way the share price will continue to up and up.

Do you know how much MAA is worth as a company, and i just do a simple calculation and take a few items from the balance sheet as at 30-9-2015.

1. Cash after shares buyback as at todate is RM382,500,000-00 estimated figure.
2. Shares buyback - shares cancelled was 11,661,500 at RM1.30 based on NTA to add back to NTA = RM15,159,950-00.
3. Impact of the winding-up :-
(The members’ voluntary winding-up of PTMAAG will not have any material operational effects on the Company as PTMAAG had been in a business run-off mode for more than three (3) years. As at 30 September 2015, the Company’s cost of investment in PTMAAG was RM20.7 million where full impairment allowance has been made in the financial year ended 31 December 2011. Based on the consolidated unaudited financial statements for the financial period ended 30 September 2015, the Company expects to record a gain of approximately RM43 million from the deconsolidation of PTMAAG.) ---- RM 43,000,000-00.

Based on the 3 items above, the adjusted NTA is RM440,659,950 divided by 290.805,252 shares = RM1.515 per shares

Extract from i3investor.com sharing by NOBY on 15/12/2015 on - P/B valuations , Based on last annual report,

MAA Takaful minority interest = 25%
MAA Takaful minority interest book value = RM 29.4 mil
MAA Takaful controlling stake = 75%

Valuation of MAA Takaful (75% stake) on different P/B scenarios
P/B =1x , RM 0.29
P/B =1.5x, RM 0.44
P/B =2x, RM 0.59

If MAA Takaful valuation is 1X, worth RM0.29 per share, the NTA ia worth RM1.805 per share.
If MAA Takaful valuation is 2X, worth RM0.59 per share, the NTA ia worth RM2.095 per share.

I will be happy if the valuation on sale of Takaful is estimated at 1X only, the NTA is RM1.805 per share.

This counter to me is still undervalue stock....... and I am a shareholder of MAAG.
Going forward, this could be very exciting for the shareholders to see more improvement in the share price trending up and something good is coming and "Good things come to those who wait"

It is for education sharing only and i am not recommend anybody to buy, and if you choose to buy MAAG, it is solely your responsibility on your action.

Management shares buyback at 0.94 to 0.95 at such a high price. Something good is coming and "Good things come to those who wait" , buy, buy, buy and going to trend higher.

Sellers are not willing to sell at lower price now, and the next quarterly result will be announcing by end Feb 2016. Buyers are now willing to pay for higher price. Something good is coming and "Good things come to those who wait"
Just a reminder that MAAG Cash Balance based on my estimation after taken into consideration of shares buyback as at dated (04/12/2015) has RM 383,500,000.00 in the company. Cash per share is RM1.312. .

Source: UOB Kay Hian Research - 11 Feb 2016
http://klse.i3investor.com/blogs/UOBKayHian/91214.jsp

happy for u Domperrier, it is uptrend again and hope that tomorrow will move up more.

REPOST SOME POINTS dated on 7/12/2015 on my sharing at i3investor.com

1. MAAG Cash Balance based on my estimation after taken into consideration of shares buyback as at dated (04/12/2015) has RM 383,500,000.00 in the company. Cash per share is RM1.312.

2. NTA is about RM 1.35 per share due to the Management has cancelled 11,661,500 Treasury Shares with Immediate effect in early December 2015.

3. The announcement dated on 1 December 2015 regarding winding-up of PTMAAG in Indonesia,
Based on the consolidated unaudited financial statements for the financial period ended 30 September 2015, the Company expects to record a gain of approximately RM43 million from the deconsolidation of PTMAAG.
This will be reflected in December account by extra RM43 Million in the NTA by extra RM 0.146 per share. ( Estimated NTA for 31/12/2015 is RM1.35 plus RM0.146 = RM 1.496.)

Not to mentioned that MAAG is finalizing of MAA Takaful business by selling to Zurich Insurance and according to i3investor.com sharing from NOBY on 17/6/2015
NOBY---- The 75% stake in MAA Takaful Bhd is valued at about RM0.38 per share at 1x book value based on 2014 annual report.
What happen that Management can get a better valuation on MAA Takaful at 1.5 x or 2.0 x on book value..... you do the maths then , how much cash will receive by the company....

Conservatively, i will take for 1x valuation only and this will increase the company cash by RM 0.38 per share ... to RM 1.692 per share.

New Posting ....
The Management is still continue to shares buy back of 1,088,900 shares as at 2/2/2016.
Aggressive shares buy back by the Management has further reduce the paid up capital of MAAG to 291,603,352 shares.

This counter to me is still undervalue stock....... and I am still a shareholder of MAAG.
It is for education sharing only and i am not recommend anybody to buy, and if you choose to buy MAAG, it is solely your responsibility on your action.

Mr Lim Nyuk Foh -MD of Priceworth International Bhd has a total shares held as at 09/03/2015 ware 52,278,511 shares and direct interest was 11.51%.

He has acquired 11,500,000 (share price was OPENING 16.0 sen, HIGH 17.5 sen, LOW 16.0 sen and CLOSE 16.5 sen) shares on 22/12/2015, total shares held were 68,509,011 shares and direct interest was 12.090%.
He has further acquired 20,000,000 (share price was OPENING 13.5 sen, HIGH 14.0 sen, LOW 12.5 sen and CLOSE 12.5 sen) shares on 28/01/2016, total shares held ware 88,509,011 shares and direct interest was 15.08%.

As at to-date, his shares holding has increased by 36,230,500 shares to 88,509,011 (15.08%) shares.

Why is he buying more of the company shares? it happened only in the last 2 months and the next quarterly report is due to publish in the end Feb 2016. Is there any information that the minority shareholders do not know that he is taking advantage of ?

Usually if the major shareholder is keep buying the shares , it must be something good about the company, but the share price keep coming down. why?

Anybody can comment?

I am also a shareholder in Priceworth International Bhd.

MAAG Shares Buy Back today is 146,400 shares at RM0.88 to RM0.885 per share, total purchase cost was RM130,088.46 and cumulative treasury shares were 655,200 shares. It is a good sign that Management support the share price from falling.

Price traded in the range of RM0.90 to RM0.95 since Dec 15, 2015 until now. In 2016 , KLSE has been very volatile yet MAAG stock price still well supported.
It is a good sign that many investors were accumulating MAAG shares, I foresee MAAG share price going to spike up very soon.

Last few trading days the volume traded were very low, it is a good sign that many investors were accumulating MAAG shares, I foresee MAAG share price going to spike up very soon.

Trade with the trend and MAAG is 4 years up trend. As long as MAAG is acting right, and the market is right, do not be in a hurry to take profit. New all time highs of the share price is possible signals of break-outs. Never sell a stock because it seems high priced.

one day play only by Market Maker....

worthwhile waiting for so long in this counter ?

If you invested in MAA if less than 6 months, if you are lucky, there is the possibility that BNM approval for the sale of MAA Takaful to Zurich, The share will shoot up due to news. You will probably catch the share price upside of 30 to 50 sens, my wild guess only.

If you waited the completion of sale of MAA Takaful to Zurich, you will see more upside on the share price maybe to the NTA value or more.....

I don't know the share price then but as i said "Good things come to those who wait".

Candygirl, to make good money you have to trust your own analysis, yes, i have accumulated alot of shares for the past few years in this counter. You have to believe in own analysis and patience is the game for value investing and "Good things come to those who wait".

NavinShah, In 2009, I have invested in TAMCO shares and ( like TAMCO was also sold the whole business in Feb 2009 with capital reduction RM0.30 per share and special dividend RM 0.66 per share and now name changed to ANCOMLB with the injection of new business to the company with some new shareholders as well) and I bought TAMCO after capital reduction and special dividend , my average cost was RM0.05 per share and later was delisted. After 1 or 1.5 years, the company listed back on 11/1/2011 at BURSA MALAYSIA, the share price on that day, shot up to 16 sens or more, and I sold all the shares at 14 sens and 14.5 sens .I have made more that 200% returns in this counter.

At one time, these PN 17 companies TAMCO, Kurnia Asia Group(delisted ) and ECM have taken the similar steps like capital reduction and/or paid special dividend to their shareholders, I believe, MAA is also in the similar position, a PN 17 status and eventually all divestment of business has completed, MAA will be a very Cash rich position in the bank account. MAA has no choice, but to take the same strategy by returning some of the extra cash to the shareholders.

So, for those shareholders, "Good things come to those who wait".

HOLDING PERIOD Second part – Keep MAA shares to see the further value after full value.

Once the divestment is completed, MAA has no business activities, and it will still fall under PN 17 status, the possibilities that the management can take the company private and delist the company or the management can find a new businesses and inject to the company.

1. If the management shall take the company private and delist the company, another waiting time for payback the share price depending the manaegement offer to the minority shareholder - refund the capital and take the company private, similar option like Kurnia Asia Group. Or

2. If the management shall find new businesses and inject to the company, you will see the MAA share price will go up further by refund some of capital and increase the value of the business .. (Example like TAMCO is also sold the whole business in Feb 2009 with capital reduction RM0.30 per share and special dividend RM 0.66 per share and now name changed to ANCOMLB with the injection of new business to the company with some new shareholders as well). This process will take a minimun of 9 months to 15 months depending the speed of the MAA management.

Once the MAA management has found the new businesses injected to the company, you shall see further value increases in the company, and this company is like the new IPO company, and by this time , if you not interested in this counter, you can sell the share, but for me I will continue to hold the shares and the profits will be very rewarding indeed, MAYBE 200%, 300% or even 500% HA, HA, HA, ............the journey continue..... with the new businesses and by that time MAA maybe will change to a new NAME........... ?????

It is an education sharing only and i am not recommend anybody to buy, and if you choice to buy MAAG, it is solely your responsibility on your action.

My journey and strategy investing in MAAG

MAAG is a PN17 company since 30 September 2011 and still a PN 17 company as at 15 DEC 2015, totalling 51 months and still no sign of coming out of PN 17. My estimated time that the MAAG Management will take about 9 to 15 months to solve PN 17 status .

My name is James and I started investing in MAAG somewhere in June or July 2012 until now I am still bullish on MAAG and a shareholder of MAAG.

ACCUMULATION PERIOD –accumulating MAA shares
Since June/July 2012 until now Nov 2015, I have accumulated MAA shares from 70+ sens to 45+ sens to recently last purchased was 78 sens. I called this period is an accumulation period and I did not anticipated that MAA had taken so long to divest their businesses . MAA, a PN17 status taken longer period than other PN17 Companies usually take about 24 months to 36 months.
During this period, MAA has divested their businesss and closed down unprofitable businesses...

1. Sold the General Insurance business to Zurich and other ...

2. Nov 13, 2013...
Proposed disposal of 55% interest held in MAAKL Mutual Bhd (“MAAKL Mutual”) to Manulife Holdings Berhad (“Manulife” or “Purchaser”) for a total cash consideration of RM56.061 million (“PROPOSED DISPOSAL”) by MAA Group in Bursa website.- completed.

3. General Announcement by MAAG on 23/09/2015...
The Board of Directors of MAAG wishes to announce that MAAG has today disposed of its RM33.5 million nominal value Domayne Bond over-the-counter secondary market for a total cash consideration of RM30.15 million. -completed

4. This announcement is dated 30 November 2015.
The Board of Directors of MAAG (“Board”) wishes to announce that the Company, Solidarity Group Holding BSC (Closed) (“Solidarity”) and Zurich have jointly submitted an application to BNM on 30 November 2015 for approval of the Minister of Finance pursuant to the Islamic Financial Services Act 2013 to enter into an agreement with Zurich for the Proposed Disposal by the Company and Solidarity of their respective 75% and 25% equity interest held in MAAT - pending.

5 . Announcement on 1/12/2015
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR 
Description MAA Group Berhad ("MAAG" or "the Company")

Members' Voluntary Liquidation of a Subsidiary Company, PT MAA General Assurance
The members’ voluntary winding-up of PTMAAG …....... and Based on the consolidated unaudited financial statements for the financial period ended 30 September 2015, the Company expects to record a gain of approximately RM43 million from the deconsolidation of PTMAAG....... completed.

6. Cancellation of Treasury Shares on 1/12/2015 totalling 11,661,500 and Now the MAAG adjusted issued capital after cancellation is 292,692,252 shares.
The NTA has improved further by additional RM0.05 per share to RM1.35 per share with cash in hand RM300 Million plus /minus.

During this period, as a minority shareholder, if you invested in MAA , you would have make profit from 10% to more then 100% including dividend of 15 sens.... on depending when you buy MAA shares .....
Dividend 2013 - 3 sens
Dividend 2014 - 6 sens
Dividend 2015 - 6 sens
MAAG on 15/12/2015 share price breaking new high with volume and closed at RM0.955 per share. The share price increasing is just a beginning …....

HOLDING PERIOD First part – Keep MAA shares to see the full value.
My estimated time that the MAAG Management will take about 9 to 15 months to solve PN 17 status .
During this time ….IF Disposal of 100% Equity Interest in MAA Takaful Berhad ("MAAT") if Bank Negara Malaysia (“BNM”) approval of the sale of MAA TAKAFUL to Zurich Insurance Company Ltd (“Zurich”) … is materialise
MAAG share price will increase further to higher value ….. on NTA value or higher …...
Once the payment of the sale of MAA Takaful proceeds collected by the company,

IF, IF the Management is generous , they will take the actions like giving special dividend or/and capital deduction by returning the unuse cash to the shareholders.
Capital deduction can be 30 – 50sens and special dividend can 10 sens to 20 sens..... since the cash in hand after sold the MAA Takaful. My estimated CASH sum is between RM 1.65 to RM 1.75 per share.

NOBY, thank you for the detailed analysis.

Well supported at RM0.90 today. MAAG share price will go up further due to closer to the finalizing of the deal - MAA Takaful .

I know some minority shareholders - (MAAG and still a PN 17 company) must be facing a very difficult decision to whether to sell or to hold at this point.....

Some investors already out of this counter due to share price spike up and lock up the profit because they have waited for too long for this counter.

Now i see also new investors started to invest in MAAG because of share price spikes.

I have invested in MAAG for 4yrs plus and still holding it and i am very bullish in MAAG due to very undervalue of this stock which I have mentioned many times in the forum. I like to share why I am still very bullish in MAAG......

1. MAAG Cash Balance based on my estimation after taken into consideration of shares buyback as at dated (04/12/2015) has RM 383,500,000.00 in the company. Cash per share is RM1.312.

2. NTA is about RM 1.35 per share due to the Management has cancelled 11,661,500 Treasury Shares with Immediate effect in early December 2015.

3. Due to cancellation of cancelled 11,661,500 Treasury Shares with Immediate effect in early December 2015 , the current Issued Capital stands at 292,692,252. The Issued Capital become smaller and it is good to minority shareholders. You will see the share price on MAAG trading in Bursa Malaysia will be more volatile and it is good for current shareholders.

4. The announcement dated on 1 December 2015 regarding winding-up of PTMAAG in Indonesia,
Based on the consolidated unaudited financial statements for the financial period ended 30 September 2015, the Company expects to record a gain of approximately RM43 million from the deconsolidation of PTMAAG.
This will be reflected in December account by extra RM43 Million in the NTA by extra RM 0.146 per share. ( Estimated NTA for 31/12/2015 is RM1.35 plus RM0.146 = RM 1.496.)

5. The current share price is RM0.90+ and the share price is just started to move and it is just the beginning of the uptrend or maybe it is just coming to the end of the problems solved by the management on divestment of MAAG.

6. The track record for MAAG on dividend has been good to minority shareholders due to the major shareholder also in need of money. I foresee the trend will continue on dividend payment in the future for 1 to 2 years.
Dividend 2013 - 3 sens , Dividend 2014 - 6 sens and Dividend 2015 - 6 sens .

7. Not to mentioned that MAAG is finalizing of MAA Takaful business by selling to Zurich Insurance and according to i3investor.com sharing from NOBY on 17/6/2015
NOBY---- The 75% stake in MAA Takaful Bhd is valued at about RM0.38 per share at 1x book value based on 2014 annual report.
What happen that Management can get a better valuation on MAA Takaful at 1.5 x or 2.0 x on book value..... you do the maths then , how must cash will come back in to the company....

For me to be conservative, I will take for 1 x valuation only and this will increase the company cash by RM 0.38 per share ... to RM 1.692 per share.

8. The Management still continue to shares buyback policy and as at 4/12/2015 is 408800 shares and latest buyback price, the Management is buying between RM 0.855 to RM0.90 per share on 4/12/2015.

IF you are the minority shareholders for the last few years and have waited for so long, don't give up , good thing are starting to come very soon.....

Think of some of the counters having the same journey like MAAG.....
(TAMCO is also sold the whole business in Feb 2009 with capital reduction RM0.30 per share and special dividend RM 0.66 per share and now name changed to ANCOMLB with the injection of new business to the company with some new shareholders as well) and
INTEGRATED RUBBER CORPORATION BERHAD (IRCB) and change name to COMFORT (2127) and
latest one like ECM .....

With the current share price is RM0.90+ , Cash in hand of estimated figure of RM1.312 based on unaudited account as at 30/09/2015. Do you think is a good and save company.

This counter to me is still undervalue stock....... and I am still a shareholder of MAAG.

Going forward, this could be very exciting for the shareholders to see more improvement in the share price going up in the near future.

It is for education sharing only and i am not recommend anybody to buy, and if you choice to buy MAAG, it is solely your responsibility on your action.

Very unusual policy, Treasury Shares cancelled and again starts to Share Buy Back at 162,300 shares again.

Why the MAAG Management has cancelled 11,661,500 Treasury Shares with Immediate effect ? What is the motive behind this action?

Now the MAAG adjusted issued capital after cancellation is 292,692,252 shares. The NTA has improved further by additional RM0.05 per share to RM1.35 per share.

I am as excited as Markus See and it should a good opening PRICE for tomorrow.
Good luck to all of us !

Notice of Resale/Cancellation of Treasury Shares - Immediate Announcement

MAA GROUP BERHAD

Date of transaction 01 Dec 2015
Currency Malaysian Ringgit (MYR)
Total number of treasury shares sold (units)
Total number of treasury shares cancelled (units) 11,661,500
Minimum price paid for each share sold ($$)
Maximum price paid for each share sold ($$)
Total amount received for treasury shares sold ($$)
Cumulative net outstanding treasury shares as at to-date (units) 0
Adjusted issued capital after cancellation/resale (no. of shares) (units) 292,692,252

This announcement is dated 1 December 2015.

Why the major shareholder sold the shares ? Is it good or bad for the company? Anybody care to share....

Big Volume 6,300,000 shares change hand on 16/11/2015 by the CEO Mr. Lim Nyuk Foh sold down.
This announcement is dated 30 November 2015.

Repost from NOBY sharing on 17/6/2015

NOBY---- The 75% stake in MAA Takaful Bhd is valued at about RM0.38 per share at 1x book value based on 2014 annual report. This is already about 50% of its market cap today.
17/06/2015 09:29