Reach Energy RM750mil IPO to be the largest for a SPAC
Reach Energy, the fourth oil & gas special-purpose acquisition company (SPAC) to seek a Main Market listing on Bursa Malaysia, will be the largest IPO for a SPAC by its fundraising size of RM750m. The previous three SPACS - Sona Petroleum, Cliq Energy and Hibiscus Petroleum - raised RM550m, RM364m and RM235m, respectively. In its draft prospectus released on the Securities Commission website, Reach said its qualifying acquisition (QA) would focus on relatively low-risk development or production assets with a primary objective to produce oil & gas and generate early revenue within two years from the date it completed its QA. (Star)
OTHERS DAYA MATERIALS BERHAD (“DMB” OR “THE COMPANY”) DISPOSE OF 500,000 ORDINARY SHARES OF RM1.00 EACH IN DAYA LAND & DEVELOPMENT SDN. BHD. (“DLD”), REPRESENTING 100% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF DLD FOR A CASH CONSIDERATION OF RM260,054 TO DAYA CMT SDN BHD (“INTERNAL GROUP RE-ORGANISATION”)
DAYA MATERIALS BERHAD
Type Announcement Subject OTHERS Description DAYA MATERIALS BERHAD (“DMB” OR “THE COMPANY”) DISPOSE OF 500,000 ORDINARY SHARES OF RM1.00 EACH IN DAYA LAND & DEVELOPMENT SDN. BHD. (“DLD”), REPRESENTING 100% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF DLD FOR A CASH CONSIDERATION OF RM260,054 TO DAYA CMT SDN BHD (“INTERNAL GROUP RE-ORGANISATION”)
Attachments
Announcement-Internal Re-organisation DLD to DCMT (15 5 2014)sk 15May14.docx.pdf
Daya future lies in their new "core" business: Oil & Gas! Hope they could secured some local project too so the local market could start explore on this company.
OTHERS DAYA MATERIALS BERHAD (“DMB” or “the Company”) - PROPOSED JOINT VENTURE BETWEEN DAYA PETROLEUM VENTURES SDN. BHD. (“DPV”), A SUBSIDIARY OF DMB, PT. SINGGAR MULIA (“SINGGAR MULIA”) AND GLOBALSTROY ENGINEERING INDIA PTY LTD (“GLOBALSTROY”), A WHOLLY-OWNED AFFILIATE OF OPEN JOINT STOCK COMPANY, GLOBALSTROY ENGINEERING SERVICES (“PROPOSED JOINT VENTURE”)
Subject: STATEMENT TO SHAREHOLDERS IN RELATION TO THE PROPOSED RENEWAL OF AUTHORITY FOR THE COMPANY TO UNDERTAKE A SHARE BUY-BACK OF UP TO 10% OF ITS ISSUED AND PAID-UP CAPITAL ("PROPOSED SHARE BUY-BACK")
First quarter dont expect the results to be good.second qtr onwards it will improve coz both their vessels were only leased starting end March.Hold if u have the power as this counter will fly after second qtr result
eanings growth is not the same that is why we price in to buy stocks for future, RCE cap is a stable matured business while Daya is trying to break through oil and gas, pretty clear where i want to put my money into the future
the above is totally nonsense that AmBank will take RCE private, i am not defending Daya but AmBank will never privatize RCE.
having the common majority shareholder does not mean that Tan Sri can or will influence the bank to buy RCE, the business model is totally different and does not add synergy. please dont speak nonsense if you dont know the business
can i ask, anybody receive letter from daya? title is " STATEMENT TO SHAREHOLDERS IN RELATION TO THE PROPOSE RENEWAL OF AUTHORITY FOR THE COMPANY TO UNDERTAKE SHARE-BUY-BACK OF UP TO 10%OF ITS ISSUED AND PAID-UP SHARE CAPITAL (PROPOSED SHARE BUY-BACK" my question is what is this? anyone mind to share ? i don't understand what is it mean thank you.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Joel
4,580 posts
Posted by Joel > 2014-05-13 14:50 | Report Abuse
My remisier told me Last week Friday to aim and focus DAYA !
It could be go to the higher price and no longer will not be the cheapest Oil & Gas
Campany in Malaysia 2014.