KUALA LUMPUR: Shares of MAA HOLDINGS BHD [], Melewar Industrial Group and Mycron slipped on Thursday, April 14, in line with the cautious broader market after a strong run-up last week.
At 3.09pm, MAAH was down four sen to RM1.40 with 11.49 million shares done, Melewar eased two sen to RM1.03 and Mycron 1.5 sen to 73 sen.
The FBM KLCI fell 4.83 points to 1,530.76. Turnover was 524.69 million shares done valued at RM680.02 million. There were 150 gainers, 584 losers and 249 stocks unchanged.
MAAH shares had rallied for more than two weeks on reports of the sale of its insurance unit to Zurich Insurance. While reports put the price tag at RM1.2 billion, analysts said the amount would be lower.
The latest development was on Monday, April 11 where MAAH said it had submitted an application to Bank Negara Malaysia for the approval of the Minister of Finance to enter into an agreement with Zurich Insurance Company Ltd.
The agreement was to dispose of its entire stake in Malaysian Assurance Alliance Bhd (MAAB) and the subsidiaries Multioto Services Sdn Bhd; MAAGNET Systems Sdn Bhd; Malaysian Alliance Property Services Sdn Bhd and MAAGNET 'SSMS Sdn Bhd.
At 3.09pm, MAAH was down four sen to RM1.40 with 11.49 million shares done, Melewar eased two sen to RM1.03 and Mycron 1.5 sen to 73 sen.
The FBM KLCI fell 4.83 points to 1,530.76. Turnover was 524.69 million shares done valued at RM680.02 million. There were 150 gainers, 584 losers and 249 stocks unchanged.
MAAH shares had rallied for more than two weeks on reports of the sale of its insurance unit to Zurich Insurance. While reports put the price tag at RM1.2 billion, analysts said the amount would be lower.
The latest development was on Monday, April 11 where MAAH said it had submitted an application to Bank Negara Malaysia for the approval of the Minister of Finance to enter into an agreement with Zurich Insurance Company Ltd.
The agreement was to dispose of its entire stake in Malaysian Assurance Alliance Bhd (MAAB) and the subsidiaries Multioto Services Sdn Bhd; MAAGNET Systems Sdn Bhd; Malaysian Alliance Property Services Sdn Bhd and MAAGNET 'SSMS Sdn Bhd.
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