Obstacles ahead for MAA’s privatisation plan

OFFICE WORKERS WAITING OUTSIDE THE MENARA MAA BUILDING IN ARGYLL ROAD, PENANG AFTER FEELING THE TREMORS.

A stumbling block appears to have emerged on the path of MAA Group Bhd major shareholders who are hoping to take the company private through a proposed selective capital repayment (SCR) exercise.

According to sources, a shareholder activist fund is opposing the proposed SCR, on grounds that the payout, at RM1.10 per share, is too low and is “nowhere near the actual value of the company”.