with the recent rise in price, along with the owner's history, not favourable for RTO using this counter.

Why want to take so much risk when such a big project is at stake?

1.) First off, high price is not beneficial to potential new owners, given that they have not owned any shares in this counter.
2.) Number of Shares Outstanding also very small.
3.) Owner's history also may complicate deal
4.) SC may not approve last minute

All of the above serve to only complicate or throw a spanner in the works. More so, when the project announcement due is around the corner.

https://www.thestar.com.my/business/business-news/2020/07/25/reverse-takeovers-heating-up-in-red-hot-market

.....Going back to the S5-Ancom Logistics deal, both parties merely announced a heads of agreement (HoA), which means there is no uncertainty that a deal will be struck.

Even so, the market reaction was a five-fold rise in the value of the target.

It should be noted that in the S5-Ancom Logistics deal, the former does not own any shares in the latter yet.

Hence the share price spike, in theory, does not benefit S5’s shareholders. In fact, it puts them in a more difficult position considering that the value of Ancom Logistics’ shares have risen a lot.

SALIENT TERMS OF HOA

3.1 The Parties have each agreed that this HOA is legally binding on all Parties and the purpose of the Parties entering into this HOA is to record the salient terms of the Proposals which shall be incorporated into the SSA (as defined below) and such other documents to be executed between the Vendors and ALB upon such other terms and conditions to be mutually agreed between the Parties.

UPON SUCH OTHER TERMS AND CONDITIONS TO BE MUTUALLY AGREED BETWEEN THE PARTIES.

HOA legally binding, only if OTHER TERMS AND CONDITIONS are mutually agreed between all parties.

sad.

The Edge Financial Daily January 09, 2019 | Updated 1 year ago

KUALA LUMPUR (Jan 9): A former Tourism Malaysia official was reportedly remanded for four days over a RM100 million tourism contract awarded before Malaysia's 14th general election. Datuk Siew Ka Wei has been arrested by the Malaysian Anti-Corruption Commission (MACC), according to news reports.

Anybody got any idea whether he was acquitted? Will SC approve such a take over given its history?

anyway, heads of agreement isn't legally binding. It's merely to set out the proposed terms during negotiation stage.

besides, with past history/news, are fund managers allowed to buy into it? i dont know.

want to have a better understanding of the structure of s5? google "weechookeong s5 technology"

The Edge Financial Daily January 09, 2019 | Updated 1 year ago

KUALA LUMPUR (Jan 9): A former Tourism Malaysia official was reportedly remanded for four days over a RM100 million tourism contract awarded before Malaysia's 14th general election. Datuk Siew Ka Wei has been arrested by the Malaysian Anti-Corruption Commission (MACC), according to news reports.

https://www.theedgemarkets.com/article/ancom-chairman-siew-ka-wei-rema...

https://www.edgeprop.my/content/1460526/macc-arrested-ex-tourism-malay...

Not sure why i3investor.com keep deleting/disallowing me from sharing such news.

want to have a better understanding of the structure of s5? google "weechookeong s5 technology"

The Edge Financial Daily January 09, 2019 | Updated 1 year ago

KUALA LUMPUR (Jan 9): A former Tourism Malaysia official was reportedly remanded for four days over a RM100 million tourism contract awarded before Malaysia's 14th general election. Datuk Siew Ka Wei has been arrested by the Malaysian Anti-Corruption Commission (MACC), according to news reports.

https://www.theedgemarkets.com/article/ancom-chairman-siew-ka-wei-remanded-over-rm100m-tourism-contract

https://www.edgeprop.my/content/1460526/macc-arrested-ex-tourism-malaysia-top-official-siew-ka-wei

Not sure why i3investor.com keep deleting/disallowing me from sharing such news.