Posted by Farin Parin > 2017-11-29 15:18 | Report Abuse

good info

Posted by steady31 > 2017-11-30 09:59 | Report Abuse

In the latest quaterly report,the Management talks about a balance between deal certainty and valuation.It hints of a QA that is capable of good reception to the extent that the stock price staying above the cash value so there is no need for yield seekers to oppose the QA.In that event the warrant price would jump many times from this level in line with the stock price valuation.

Posted by speakup > 2017-11-30 10:54 | Report Abuse

Actually yours is misleading.
Management is NOT receiving wages from their own money, they receive it from management fee. 8% of total funds raised (8% X 400mil = RM32mil) is allocated for this purpose. So even if NO QA, they can enjoy the RM32mil. They can goyang-kaki while waiting for the QA to fail.


Posted by steady31 > Nov 28, 2017 04:38 PM | Report Abuse

making investment decision on wrong or misleading information can be costly like using previous IPO case.The promoters paid a average of 7.5c for their shares with free warrant which multiplied 6x-10x upon the succes of QA.There is only huge gain.Pending the QA ,the management of RSena is receiving their wages from their own money.They would be wasting much time,effort and opportunity cost if the QA is not done

Posted by speakup > 2017-11-30 10:57 | Report Abuse

Again misleading.
SEM (runs 7-eleven) and Bison (runs mynews) is convenience store biz, not F&B.


Posted by steady31 > Nov 29, 2017 10:10 AM | Report Abuse

By comparing with SEM,BISON and BJF,the stock which has the the closest metrics is SEM with 1233 million shares and a TTM of 40m .Its share price of 1.50 gives it a PER of 47x.Would RSENA be able to sew up QA and command such a metric.With a conversion price of 0.50, the warrant could be as high as 1.00 just to be at parity.

Posted by Farin Parin > 2017-11-30 15:11 | Report Abuse

just wait in FEB 2018 to collect the profit

Posted by Kareemabduljabbar > 2017-12-03 12:16 | Report Abuse

Deal dead.

Posted by steady31 > 2017-12-04 13:47 | Report Abuse

Here are some facts for those who are not sure.Rsena IPO prospectus section 9.1.2 page 208 says Rm 10 million was raised by Raintree(promoters) to defray day to day admin and operating expenses prior to the IPO andto pay the REMUNERATION FOR THE MANAGEMENT TEAM from the date of SC approval until completion of QA or expiry of permitted timeframe whichever is earlier

Posted by speakup > 2017-12-04 13:56 | Report Abuse

So what RM10mil raised from their management own money "before IPO"? After IPO, RM32mil allocated for management expenses, which is 3X more than their own money.


Posted by steady31 > Dec 4, 2017 01:47 PM | Report Abuse

Here are some facts for those who are not sure.Rsena IPO prospectus section 9.1.2 page 208 says Rm 10 million was raised by Raintree(promoters) to defray day to day admin and operating expenses prior to the IPO andto pay the REMUNERATION FOR THE MANAGEMENT TEAM from the date of SC approval until completion of QA or expiry of permitted timeframe whichever is earlier

Posted by Rio2814 > 2017-12-06 10:51 | Report Abuse

The price moved to 47c, anything happening?

Posted by speakup > 2017-12-06 11:11 | Report Abuse

Nothing happen. Go back to sleep


Posted by Rio2814 > Dec 6, 2017 10:51 AM | Report Abuse

The price moved to 47c, anything happening?

Posted by steady31 > 2017-12-06 11:48 | Report Abuse

Rio,what it means is that if the price goes up another 1-2 c,yield seekers might as well cash out than to oppose the QA and have to wait a full year for their money like what happened in Reach,thereby allowing the QA to go through

Posted by speakup > 2017-12-06 11:51 | Report Abuse

Wrong! Need to be AT LEAST 50sen to match the money in trust, otherwise yield investors vote NO to get back 50sen (less 1 sen for liquidation fees).

Posted by steady31 > Dec 6, 2017 11:48 AM | Report Abuse

Rio,what it means is that if the price goes up another 1-2 c,yield seekers might as well cash out than to oppose the QA and have to wait a full year for their money like what happened in Reach,thereby allowing the QA to go through

Posted by vinc3nt > 2017-12-06 12:51 | Report Abuse

lol Arsenal

Posted by steady31 > 2017-12-06 14:48 | Report Abuse

Rio, the other obvious point of the price reaching 47c is that it is likely not yield seeker buying at this level because the remaining yield to maturity is less than 5% given that about 3% is retained even upon maturity for another 1 year under liquidation proceeding as in the case of Sona and Reach. So the higher price has to be more reflective of the quality of the QA that is under consideration

Posted by speakup > 2017-12-06 14:53 | Report Abuse

next year Dec get back 49sen (50sen minus 1sen for liquidation fees).
49-47 = 2sen
2/47 = 4.3% (still slightly higher than FD rate)
means yield investors still in.

Posted by Kareemabduljabbar > 2017-12-06 16:48 | Report Abuse

‘Higher quality of acquisition’ ha ha. Wait a few days and see if CS or PAG or any other yield investor surface as more than five percent shareholder. Anyway, annual report out soon so very clear who holds what then you know if deal is dead or not and who is taking male chicken.

Posted by Rio2814 > 2017-12-06 22:39 | Report Abuse

Rsena need only 75% to get approval for QA. CS + PAG + Other Yield investor can make up 25%??
Lets see.

Posted by speakup > 2017-12-07 09:55 | Report Abuse

to keep it simple:
rsena mother <50sen ----> FAIL
rsena mother >50sen ----> PASS

Posted by TheContrarian > 2017-12-07 11:18 | Report Abuse

Have you guys been sleeping? PAG already own 5.6% as at 11/9/17. Speakup owns 4.9%, hahaha.

Posted by TheContrarian > 2017-12-07 12:21 | Report Abuse

Speakup planning to increase to 5%?

Posted by Kareemabduljabbar > 2017-12-07 12:37 | Report Abuse

Tak payah lah cerita cerita. Kita Tunggu je bulan January lapuran tahunan keluar nanti. Tengok lah je sapa yeild investor sapa main Guli sapa main buntut. Duit tu kita dapat bukan dec 18 tapi mungkin may 2019. Tunggu lah lama lama.

Posted by TheContrarian > 2017-12-08 15:42 | Report Abuse

Sold some RSena at 0.47 and use the proceeds to buy Ekovest at 0.915 this morning.

Posted by speakup > 2017-12-08 15:43 | Report Abuse

TheContrarian, how many Red Sena u sold?

Posted by TheContrarian > 2017-12-08 17:45 | Report Abuse

Little bit only.

Posted by speakup > 2017-12-08 17:52 | Report Abuse

good. dont sell all.
exactly Dec next year you will get back 50sen (or 49 if less 1sen liquidation fees)

Posted by TheContrarian > 2017-12-08 20:01 | Report Abuse

I bought at 40.5 sen only fifteen months ago as an alternative to FD. There's not much upside in the next 12 months. Unlikely to secure a QA.

Posted by steady31 > 2017-12-11 14:55 | Report Abuse

would any yield seeker buy rsena at 47sen to get back 48.5 sen after one year?That is what the receiver would pay ie 97% of 50sen with the balance 3% payable upon completion of receivership which is longer than i year ie 2 years from now.The yield seeker would be better off buying other assets.

Posted by speakup > 2017-12-12 10:05 | Report Abuse

Red Sena will fail because:
1) Market is very bullish in Malaysia & around the world. Hard to find QA at fair price. Any business which want to exit, want to sell at a huge premium!
2) Looking at how Reach Energy performed after a successful QA (despite buying an asset at the very bottom of crude oil price), everybody will REJECT any QA (not matter how good it is).
3) Credit Suisse has come in as spoiler. To pass the QA, management need to buyout Credit Suisse at a premium. This will be harder too considering MTD is suffering losses from buying out Credit Suisse in Reach Energy. No fund will want to be the white knight after seeing what happened in Reach Energy.
4) Red Sena management team consists of very rich people. Even if no QA or fail, it doesn't affect them. They are not hungry for QA. If Red Sena fail, they still make from management fees. They lose nothing!

Posted by speakup > 2017-12-12 10:07 | Report Abuse

https://www.thestar.com.my/business/business-news/2017/12/11/red-sena-in-the-limelight/

read between the lines, director not optimistic on QA

Posted by Rio2814 > 2017-12-12 10:13 | Report Abuse

Cliq and Sona was very confident with their QA..... at the end what happen?

Posted by speakup > 2017-12-12 10:22 | Report Abuse

successful SPACs: HIBISCUS & REACH
fail SPACs: CLIQ, SONA, RSENA ( looking into cystal ball )

Posted by stockraider > 2017-12-12 10:43 | Report Abuse

Rsena may not fail why ??

Posted by speakup > Dec 12, 2017 10:05 AM | Report Abuse

Red Sena will fail because:
1) Market is very bullish in Malaysia & around the world. Hard to find QA at fair price. Any business which want to exit, want to sell at a huge premium!

This rsena are reputable people with ability, they have the business to value add & enhance the business loh. People or owner may go along with them mah...!!

2) Looking at how Reach Energy performed after a successful QA (despite buying an asset at the very bottom of crude oil price), everybody will REJECT any QA (not matter how good it is).

It is how u structure mah..they may buy into a smaller business and inject huge cash as expansion and business enhancement, in this way they may circumvent the need to overpay loh...!!

3) Credit Suisse has come in as spoiler. To pass the QA, management need to buyout Credit Suisse at a premium. This will be harder too considering MTD is suffering losses from buying out Credit Suisse in Reach Energy. No fund will want to be the white knight after seeing what happened in Reach Energy.

If they buy into a smaller business and use less capital to acquire and use the balance the catch with very big expansion mkt may like that idea loh...!!

4) Red Sena management team consists of very rich people. Even if no QA or fail, it doesn't affect them. They are not hungry for QA. If Red Sena fail, they still make from management fees. They lose nothing!

SOMETIME PRIDE & REPUTATION ARE MORE IMPORTANT THAN MONIES.
IF U FIGHT FOR HONOR, HUMAN ARE KNOWN TO DO WONDERS LOH...!!

Posted by wah168 > 2017-12-12 11:22 | Report Abuse

a

Posted by Rio2814 > 2017-12-12 11:36 | Report Abuse

3) Credit Suisse has come in as spoiler. To pass the QA, management need to buyout Credit Suisse at a premium. This will be harder too considering MTD is suffering losses from buying out Credit Suisse in Reach Energy. No fund will want to be the white knight after seeing what happened in Reach Energy.
Reach Need 85% in order QA to be pass. Rsena only need 75%. How much CS + PAG + yield has.

Posted by speakup > 2017-12-12 11:42 | Report Abuse

https://www.thestar.com.my/business/business-news/2017/12/12/rm147bil-takeover-offer-for-oldtown/
F&B biz dont come cheap, especially those established ones

Posted by TheContrarian > 2017-12-12 18:29 | Report Abuse

PAG now owns almost 7%, speakup another 4.99%. QA no chance.

Posted by Rio2814 > 2017-12-13 00:11 | Report Abuse

7% + 5% = 12%.... yield investor need 25%. How ...... other yield investor????

Posted by speakup > 2017-12-13 09:34 | Report Abuse

speakup 4.99% so no need announce to Bursa lor
but seriously, speakup not even close to 4.99%.


Posted by TheContrarian > Dec 12, 2017 06:29 PM | Report Abuse

PAG now owns almost 7%, speakup another 4.99%. QA no chance.

Posted by stockraider > 2017-12-13 10:05 |

Post removed.Why?

Posted by TheContrarian > 2017-12-13 13:28 | Report Abuse

Earliest is November next year.

Posted by speakup > 2017-12-13 15:22 | Report Abuse

raider, let's join forces again and VOTE NO to Red Sena!

Posted by DK66 > 2017-12-13 15:42 | Report Abuse

TheContrarian, why the earliest is November ? The deadline is 10 Dec 2018....

Posted by Rio2814 > 2017-12-13 16:16 | Report Abuse

Why we need to join you to say " NO".... where is the Asset's detail?... If good Asset how?

Posted by TheContrarian > 2017-12-13 16:39 | Report Abuse

Today sold some more Red Sena at 0.47.

Posted by TheContrarian > 2017-12-13 16:46 | Report Abuse

DK66, Red Sena still negotiating for a QA, after that need to submit to SC. And SC will take time to scrutinize the QA. If SC approves, need to call for EGM. If at EGM, at least 75% shareholders approve, need to process repurchase of No votes. All these take time.

Posted by DK66 > 2017-12-13 21:12 | Report Abuse

TheContrarian, Thanks

Posted by Rio2814 > 2017-12-15 10:22 | Report Abuse

http://www.klsescreener.com/v2/news/view/319457

Posted by Airapi Dir > 2017-12-21 09:01 | Report Abuse

bagus

Posted by Rio2814 > 2017-12-26 16:07 | Report Abuse

Price drop to 3.5c. QA pass or fail???

Posted by Rio2814 > 2017-12-26 20:34 | Report Abuse

http://www.klsescreener.com/v2/news/view/323103