Trading in MAA securities halted pending announcement

KUALA LUMPUR (Feb 27): Trading in the securities of MAA Group Bhd has been suspended today pending a material announcement.

In a filing with Bursa Malaysia today, MAA said it had requested for the suspension from 9am till 5pm today.

MAA shares last traded yesterday at 60 sen, giving the group a market capitalisation of RM164.11 million.

The group booked a net loss of RM2.63 million in the third quarter ended in Sept 2018 (3QFY18) due to significant changes to accounting policies in regards to the Malaysian Financial Reporting Standard (MFRS).

The 3QFY18 report of MAA’s certain investments of RM9.64 million on Dec 31, 2017, held to collect cash flows have been reclassified and their fair value of RM1.73 million deemed as an amortised cost for these investments as at Jan 1, 2018.

Source : TheEdgeMarkets