I spread my portfolio, SPACs gave risk-free returns more superior than FD. No risk of capital loss, guaranteed profit. Sona I made almost 20%. Reach currently showing paper gain of 20%.
% is not important. RM is important. my friend made 100% profit in Airasia but in terms of RM, he only made rm6k. my skpetro only up 20% but made me RM10k.
wa, why TheContrarian you also like this counter, this is a goreng counter ? sorry If I am wrong because as I know you only will see good counter this is good , can tell me if you willing , thanks first ?
ivan9511, I stopped playing goreng counters for a long time after making enough to buy a home. Now I mostly go for safe counters that can make at least 10%, safe in the sense can't lose my investment. Red Sena is not goreng counter but once it goes up it doesn't come down much. It's as safe ad money in fixed deposit and gives a yield on excess of 10%. I bought at 40.5 sen a few weeks ago.
helloe TheContrarian , sorry maybe I lack of knowdege can ask you why you say safe
this is SPECIAL PURPOSE ACQUISITION COMPANY and recently qr loss money
if you will can explian , if you not free just ignore me , because as I know you are very good investor and I got follow your invest in MBSB so I belive your sense , haha sorry kacau you la
Yield investor is moving into rsena, does it mean this will jorpardise rsena survival and its potential QA ??
Raider answer: Yes and NO
To be fair ....yield come in to protect us indirectly loh...!! For example If it is a lousy deal the share price will below cash level and cannot move up. That means this yield investor will vote against and close the spac down.
Thus management have no choice but look for a good acquisition within the spac period of 3 yrs.
If it is good, mkt will give a thumbsup and the share price will move above cash level....the yield investor may selldown or may keep and give it a yes vote loh....!!
This is correct business model is it not ??
The 2 spacs failure confirm the business to be acquired not so good...thats why....the spac holder vote no....!!
ivan9511, yes this is SPAC, qrt loss because yet to acquire a business. When Red Sona has identified a suitable business it has to call for EGM for voting. If shareholder doesn't agree with the new business to be acquired, shareholder vote no in EGM and Red Sona pays shareholder 46 sen plus interest. So, very safe for me because I bought at 40.5 sen. This is just a simple brief explanation.
Right now we don't know who bought over 50 million shares in the past two weeks, pushing up price from 41 sen to 43 sen. KWAP owns over 52 million shares as at end of August 2016 and hasn't announced any additional purchases since. Credit Suisse/PAG have not announced any substantial shareholding yet.
Shareholders of another SPAC, REACH ENERGY voted against the proposed QA. The warrant will become toilet paper soon. Therefore, be mindful if you are the warrant holders of SPAC.
when RSENA went IPO in late 2015, it raised rm400M of which 92% put into trust. Meaning at IPO day itself, the cash value is 46sen. Today after adding interest, the cash value should be about 47.8sen.
RSENA now 43.5sen, meaning is 9% discount to its cash value! Which is 3X FD rate.
It is not surprise KWAP, TH, LTAT whatsoever ceased to be substantial shareholders in many bluechip stocks because these funds were to use to support FGV price for the coming election.
RSENA 2016 Annual Report out... 2 very interesting things inside.... 1) Credit Suisse has been accumulating RSENA and is now the 5th LARGEST SHAREHOLDER of RSENA!!!!! 2) Julian Suresh Candiah (remember him from Cliq, Sona & Reach) is now the 17th largest shareholder of RSENA! Both are YIELD INVESTORS!!!!
looks like RSENA management will need to find a friendly party to buy out them out at 48sen-49sen!!!!
If 6% per annum,better wait until last minute only buy.I bought reach at 0.715 & cash back 0.76 within two months.6% per two months.But if compare to FD,then buy rsena better
judging from Reach Energy share price post QA, high chance RSENA will be a failed SPAC as investors now realize that post QA the share price has no support.
Who wants to sell below RM0.45, pls let me know. We can arrange off market transaction. I have very positive view on the processed F&B industry but not oil & gas. We can't compare an orange with an apple. In fact, almost all oil & gas counters are affected by the depressed crude oil prices and don't blame on SPAC unless it is in oil & gas industry..
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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....
qingqingqing
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Posted by qingqingqing > 2016-09-21 21:12 | Report Abuse
No news;no announcement, no rumors, nothing in this SPAC....really SPECIAL