MAA stands strong today, finishing in positive territory despite KLSE closing at 1544 (-13.49, -0.87%). Looks like the deal is going to be made anytime soon, as they had submitted an application to Bank Negara Malaysia (“BNM") on today, 11 April 2011, for the approval of the Minister of Finance pursuant to Section 67 of the Insurance Act 1996 of Malaysia to enter into an agreement with Zurich for the Proposed Disposal by the Company of their entire equity interest held in the capital of MAAB and the following subsidiary companies to Zurich :
1) Multioto Services Sdn Bhd ;
2) MAAGNET Systems Sdn Bhd (“MAAGNET”) ;
3) Malaysian Alliance Property Services Sdn Bhd;
4) MAAGNET –SSMS Sdn Bhd ( a wholly -owned subsidiary of MAAGNET)
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