Better to see now and get the RM1.2 Billions and then distridute to your poor little shareholder. I pity these shareholders, who had bought for along term.
before selling insurance arm, core bussiness of MAA is takaful. Its getting strong and have one of the best product. Best takaful product for 2009, 2010 in KLIFF.
The MAA share is under value and now properties in U.S. surged following encouraging signs out of Europe and a jump in apartment building in the U.S. which MAA own's quite huge number of apartments in the U.S. will indeed add on to the company's revenue.
Most of the Takaful players are reporting good 1Q sales achivements, distributing commision to Agents and building customers confident towards the company and there company CEO also said to achieve the number ONE in Malaysia in 5 Years which i think they might. Bcos their company is stable
What MAA has achieve ?
A good name in PN17
Who want to be cover by the Insurance Company that they are about to close down or in trouble ?
The other takaful player's Agent are doing well by selling MAA about to close down, just imagine this point and fact is good enough to convince the public not to buy MAA Takaful
As long as MAA is still in PN17 Tengku Ya'acob's vision is just a dream make up to mislead the investor.
Agreed with you Navin,the only way to do it is for all the minority shareholders to come together to force a change in management. Minority will get more value if maa is broken up.
The Company's business is very good. Look around most insurance companies are doing wonderfully well. Only MAA is in PN17. The DIRECTORS should be shamful for this. They are not doing their job well. The only way, is to get rid of this hopeless and good for nothing DIRECTORS. Employ good managers and pay them well. The whole company must be controled by managers. Come on minority shareholder, get together and let us kick of this good for nothing DIRECTORS. They have been the JOB to perform but they hjave miserably failed. The result shows the company is going down hill with them on board. GET THEM OUT.
Maa has on 30th Sept 2012 apply to see waiver to be classified as PN17 company. Company has reasonably good grounds because of their net cash holding and existing business ie MAA takaful that is profitable and also unit trust/fund management that is also profitable. They have sold off some non core business including Indonesian insurance business that is not profitable. The only weakness is management which I think they are trying to do something. No doubt we need a new set of good managment to stir the company forward.
@Navin MAA insurance already sold to other company... So MAA only go to PN17 due to sale not enough to be listed... For more information please refer to bursa
yup..they sold insurance business to Swiss company Zurich Insurance...now they are rich, just like the related company Ksk Group(Formerly known as Kurnia Asia)
Maa now has no borrowings and net cash of more than 150 million. Net cash should increase by another 69 million by end of september 2013 when they receive the final proceed from Zurich Insurance ( money held in Excrow account now). Apart from the net cash position, the company has sold its lost making Insurance arm in Indonesia (that will also bring in some cash). This is kitchen sinking and now I suspect the company should be in a better position to start off afresh (hopefully with a stronger management team). After having sold its Main business ie the conventional life and insurance arm to Zurich Insurance, MAA still has a profitable run MAA Takaful business and also MAA Mutual Fund. Management has informed earlier they will continue to enhance the existing business and will not diversify into non financial business. With the excess cash, they will partially use it to fast track growth of the takaful business (high growth potential) while look for more business opportunities in financial services industry (posibbly also in private equity business). More importantly now is that the company financial position is intact. Thus MAA has now apply to Bursa Malaysia for its share to be uplifted from PN 17 due to their strong financial position now and also exisitng business.
same here ... infact i just brought today... small capital.. no smoke without fire as they say... my bet is that upliftment of PN17 that is driving the price increase now....
mutual fund biz still within the company... many retail investors....... pn17 cannot be forever and chances of delisting quite minimal, at least that is the believe....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Shah Navinchandra Mulji
1 posts
Posted by Shah Navinchandra Mulji > 2011-04-10 13:38 | Report Abuse
Better to see now and get the RM1.2 Billions and then distridute to your poor little shareholder. I pity these shareholders, who had bought for along term.