Had done few rounds in early part of the year ! Suggest u focus on others as this counters , Board & major holders already cash in n not active as before other than looking into "Steel" industry .....................................
Hi guys...nice to meet u. I'm Janice, a newbie in stock market. Am I too late to go in at this price @ 0.59? Hope u guys can advice & guide me ya..thanks dear.
+ What reason your friend recommend you to buy this stock. Anyway just to give you a brief of the company. It is classified as PN 17 company. The company need to submit a restructuring plan to bursamalaysia by 17th of this month. If they fail to by this deadline, it has to submit an appeal to bursamalaysia for extension of time say another 6 months. In the event the company is able to submit the plan by this month ie 17th, then it should be good for the stock price. Otherwise if you are a shareholder you have to wait for a longer period. Value wise the company has cash in hand of about 50 cts per share and its current major business is MAA Takaful business and fund management under MAA mutual fund. Whether to buy or not depends on how patient you are.
You are right that the NTA is RM1.41. Value wise with cash holding of 50 cts per share and existing businesses the company (almost debt free) should command a higher market price of 65 cts. The Takaful insurance business has great potential for growth in malaysia. The growth rate is even faster than the conventional insurance business. It all depends on how professional and sincere the major shareholder is in improving the company business. In the event of any m & a with other takaful insurance business, that will be good news for the stock.
Yes, restructuring will take place later. Most likely around September 2013, when they receive the the balance amount from the sale of MAA Insurance to Zurich. They have applied to Bursa for extension of time say 3 or 6 months time. Should be no problem to get the extension of time from Bursa.
Eventually the stock will be out of PN 17. It is a matter of time. A patient investor will be rewarded provided there is no major bear market in the next 6 months.
MAA - A PN17 company. The company is applying to get out of PN17 soon, maybe in sept/oct 2013 ????? BUT,its current major business is MAA Takaful business and fund management under MAA mutual fund. This co has NTAB of RM1.38 as reported in the QUARTERLY report as at 31-3-2013. Value wise with cash holding of 50+ cts per share and valuation of existing businesses the company is(almost debt free). Today (17-07-2013)closing of RM0.595 per share.Should the company command a higher market share then RM 0.595 per share? Based on the audited account 31-12-2012, other foreign shareholders are HSBC NOSM(A)SB BENEFICIARY EXE-CREIT SUISSE (SG BR-TST-ASING 3,451,300 and HSBC NOM(A)BENEFICRY EXE-MORGAN STANLEY&CO INTERN PLC(CLIENT)2,608,400. What price do you think its worth to buy?? mind to advice?
if you are a very patient investor, maybe can buy and wait. Price of stock should reach about 70 to 80 cts by year end. MAA is now a holding company of MAA Takaful ( an insurance company governed by Bank Negara Malaysia). Under the new FSA ruling (came into effect this month) MAA is now under the supervision of Bank Negara Malaysia. Thus the cash of about 150 million cannot be simply invested in any other businesses except financial services related. This is extra comfort that the company will not get into any financial trouble. Thus it cash has to be used wisely ( or maybe special dividend later). If you add the cash and the existing business, the company is valued more than a rm 1.00 at least.
This stock will soar. Be patient. Company buy back shares. High upside / low downside. Its a "cash rich company" after they sold their insurance unit to Zurich. Just like what happened to UBG Bhd after they sold RHB stakes.
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....
talk2pkc
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Posted by talk2pkc > 2012-11-09 00:03 | Report Abuse
Had done few rounds in early part of the year ! Suggest u focus on others as this counters , Board & major holders already cash in n not active as before other than looking into "Steel" industry .....................................