KUALA LUMPUR: Shares of MAA Holdings Bhd fell in active trade on Tuesday, Oct 4 after it was classified a Practice Note 17 company following the disposal of its insurance business.
At 3.42pm, it was down eight sen to 40.5 sen. There were 34.53 million shares transacted. The FBM KLCI was just 1.78 points higher at 1,369.30. There were 578.41 million shares done valued at RM836.35 million. There were 296 gainers, 286losers and 280 counters unchanged.
MAA had announced on Sept 30 it was considered a PN17 company pursuant to Paragraph 2.1(g) of PN17 after it had completed the disposal of its insurance business to Zurich Insurance Company Lt for RM344 million.
As at Oct 3, there are 24 companies under PN17 which represents 2.63% of the total number of 952 companies listed on Bursa Securities.