1 candle is made from 9 stubs
Therefore, 116 candles will be made from 1044 stubs
From 116 candles, 12 candles can be made with 8 stubs left.
Now total stubs left $=(12+8)=20$ out of which two candles can be made with two stubs left.
Thus, Maximum number of candles that can be made
Edit: For a detailed explanation, check comment by Dinesh Subudhi.
Edit 2: For yet another explanation, check comment by Ramya,