MAA’s growing cash pile fails to boost share price

MAA Group Bhd executive chairman Tunku Ya’acob Tunku Abdullah

PETALING JAYA: Despite the proposed sale of its Takaful arm and a special dividend of 35 sen per share, MAA Group Bhd’s latest corporate announcements have done little to attract investors’ interest to the stock, as reflected in its share price movements.

On Friday, MAA’s share price ended lower by 5 sen to RM1.15 following the announcement of a conditional share purchase agreement with the purchaser to dispose its stake in MAA Takaful Bhd a day before. The exercise would see its cash pile swell to about RM580mil, or more than RM2.30 per share.