Friday, December 17, 2010

MAAH surges in active trade on stake sale plan

KUALA LUMPUR: Shares of MAA HOLDINGS BHD [] (MAAH) surged in active trade on Friday, Dec 17 following the central bank's approval for it to go ahead with talks to dispose of its stake in its insurance unit.

At 9.42am, MAAH was up nine sen to 71.5 sen with 7.31 million shares done.

The FBM KLCI rose 1.14 points to 1,498.66. Turnover was 162.46 million shares done valued at RM144.95 million. There were 226 gainers, 111 losers and 162 stocks unchanged.

MAAH said on Thursday it had received Bank Negara's approval for it to hold early talks with Zurich Insurance Company over possible sale of stake in its unit Malaysian Assurance Alliance Bhd (MAA).

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