Posted by EJ0857 > 2018-06-27 10:31 | Report Abuse

Any update?

Posted by ajaaja > 2018-06-27 10:34 | Report Abuse

Im still holding.. hehehe

Posted by yip_8988 > 2018-06-27 11:44 | Report Abuse

No more story.

Posted by StoneColdHunter > 2018-06-27 12:52 | Report Abuse

@ajaaja Warrant?

Posted by 1234rich > 2018-06-29 10:23 | Report Abuse

他们真的很潮湿。有些年头仍然无法获得QA

Posted by yip_8988 > 2018-06-29 12:31 | Report Abuse

唉！管理层讲來讲去，看来看去都无法找不到一家从事食品的公司來收购还说什么食品界的老行之尊，到最后一事无成。

Posted by ATARAH > 2018-07-02 10:58 | Report Abuse

Hello team
Please translate
Tq

Posted by EJ0857 > 2018-07-02 11:48 | Report Abuse

Within tis two week MUST hv something brewing or else time up, wait for refund.....

Posted by TheContrarian > 2018-07-02 11:49 | Report Abuse

Waiting to sell at 48 sen.

Posted by EJ0857 > 2018-07-02 11:58 | Report Abuse

Anybody know what is the refund figure?

Posted by TheContrarian > 2018-07-02 13:10 | Report Abuse

49+ sen.

Posted by nnMM > 2018-07-02 13:23 | Report Abuse

52sens

Posted by TheContrarian > 2018-07-02 13:33 | Report Abuse

From 46 sen how to go to 52 sen? FD interest only around 4%, also need to deduct tax on interest income, liquidation costs.

Posted by nnMM > 2018-07-02 14:38 | Report Abuse

As at March 31 2018, trust account = RM391.64 million, equivalent to RM0.49.

Other receivables, deposits and prepayments = RM4.64 million. Short-term Islamic investments = RM17.85 million. Equivalent to RM0.028.

From 31st March till 30th September (expected end of final decision month), the trust account and short term investment still generating interest around 4%per annum. We still yet take into account.

Posted by TheContrarian > 2018-07-02 15:26 | Report Abuse

RM0.028 belongs to Management shareholders, not part of cash held in trust.

Posted by nnMM > 2018-07-02 15:49 | Report Abuse

IPO raised RM400mil. 800million shares @ IPO price of RM0.50.

92% put in trust account, RM368 mil,which now grows to RM391.64 mil.

8% remain as short term liquid funds for expences, RM32 mil which now drop to RM22.49 or RM0.028 per share.

So, this RM0.028 belongs to shareholders or management?

Posted by taitaumau > 2018-07-02 15:53 | Report Abuse

where liquidation costs can be fully covered by non-trust monies, full repayment of trust monies to interested shareholders is possible.

say 0.46 x 1.03% x 1.03 % x 1.03% = 0.502 (for complete 3 years period)

where liquidation cost has been accounted for and there is still residual value left from non-trust monies, then all shareholders shall be entitled to receive it.

The uncertainty : How much non-trust monies will be left upon
commencement of the liquidation process??

Posted by ATARAH > 2018-07-02 15:59 | Report Abuse

within 2 weeks , so how much time more we have when is last day of two weeks time
Tq team

Posted by nnMM > 2018-07-02 16:06 | Report Abuse

we can take other SPAC's as example. In the end, there's still some residual value left for final distribution to shareholders. But do take note that for Sona Petroleum, 97% of the monies were held in trust account and only 3% remain for liquidation process whereas Rsena holds 92% in trust acc.

Posted by cybergreen > 2018-07-02 16:22 | Report Abuse

so the chance still have? how about the rsena warrant? would it become paper if the deal is not going on?

Posted by yip_8988 > 2018-07-02 18:28 | Report Abuse

If no deal warrant be come toilet paper.

Posted by cybergreen > 2018-07-03 11:15 | Report Abuse

already become paper. 0.05 buyer.

Posted by yip_net > 2018-07-04 01:00 | Report Abuse

What is 0.05 ?if nothing deal warrant Actual amount is 0.00.

Posted by cybergreen > 2018-07-04 08:21 | Report Abuse

yes. become toilet paper.

Posted by BURSAMASTER > 2018-07-04 20:10 | Report Abuse

http://klse.i3investor.com/blogs/Bursa_Master/164053.jsp

Posted by johnsonsem > 2018-07-06 18:06 | Report Abuse

Bad news.. Rsena will put full stop

Posted by Farin Parin > 2018-07-06 18:20 | Report Abuse

where did you get the news?

Posted by TheContrarian > 2018-07-06 18:31 | Report Abuse

Sold off all my RSena. Goodbye.

Posted by apolloang > 2018-07-06 18:33 | Report Abuse

sell rsena,ta and all hentam butaland ar? hehe

Posted by cybergreen > 2018-07-06 18:44 | Report Abuse

As of the date of this Announcement, we have approximately five months to 10 December 2018, which is the expiry date of our Permitted Timeframe, to complete a QA. Taking into consideration the processes and approvals required to complete the QA and the remaining time left, our Board of Directors have deliberated and regret to inform that the Company will not be able to complete the QA within the Permitted Timeframe.

Posted by taitaumau > 2018-07-06 19:21 | Report Abuse

warrants are now confirmed worth less than toilet paper.

Posted by Pmaster > 2018-07-06 19:23 | Report Abuse

Next month the director will make another announcememt , the QA can completely in the time frame..

Posted by Pmaster > 2018-07-06 19:23 | Report Abuse

Next month the director will make another announcememt , the QA can completely in the time frame..

Posted by Pmaster > 2018-07-06 19:25 | Report Abuse

All just the board director and trader together show. Completely collect all the warrant.

Posted by TheContrarian > 2018-07-06 19:26 | Report Abuse

Liquidation will take a long time.

Posted by Pmaster > 2018-07-06 20:04 | Report Abuse

Company last date to summit the QA is 30 septemner 2018.

Posted by Pmaster > 2018-07-06 20:49 | Report Abuse

Kelvin , yes u r right .

Posted by TheContrarian > 2018-07-06 20:54 | Report Abuse

It's over.

Posted by Pmaster > 2018-07-06 21:24 | Report Abuse

Contrarian , maybe . haha

Posted by taitaumau > 2018-07-06 21:38 | Report Abuse

A clear heading:

"Inability to complete a Qualifying Acquisition ("QA") within the Permitted Timeframe"

and under a bold sentence

" regret to inform that the Company will not be able to complete the QA within the Permitted timeframe"

Well, what else can one expect?

Posted by TheContrarian > 2018-07-06 22:03 | Report Abuse

Confirmed over.

Posted by Pmaster > 2018-07-06 22:37 | Report Abuse

The 3 years time frame , can extend?

Posted by TheContrarian > 2018-07-07 14:12 | Report Abuse

Cannot.

Posted by Pmaster > 2018-07-08 07:56 | Report Abuse

Contarian , can bring to court to apply the extend time like CLIQ case.
I think monday the warrant will goreng up to 0.2-0.04 in order the big share holder to dispose their warrant.

Posted by TheContrarian > 2018-07-08 10:26 | Report Abuse

No extension allowed.

Posted by Pmaster > 2018-07-08 15:21 | Report Abuse

Contrarian , haha ok

Posted by csan > 2018-07-08 23:33 | Report Abuse

TheContrarian, you're wrong. u must count receivables. receivables is interest income not recognised in cash trust yet. this is accrual accounting, not cash accounting. and if we look at sona or the other failed SPACs, liquidation cost was negligible.

refund is 50sen minimum, 52sen max. rsena must liquidate within 60days from 10 december. so latest we get back our money 10 feb 2019.

Posted by Pmaster > 2018-07-09 08:52 | Report Abuse

I will buy the warrant 0.005 , waiting all sell i will collect.

Posted by StoneColdHunter > 2018-07-09 09:13 | Report Abuse

@pmaster, what makes you so confident??

Posted by taitaumau > 2018-07-09 10:42 | Report Abuse

Where QA can not be completed within the permitted timeframe, 2 measures to be taken:-

(1)Liquidation of Company
(2)During liquidation process, cash held in Trust A/C should be
"distributed" to interested shareholders. Cash here refers to
cash net of tax and direct expenses related to "liquidation
distribution"

Cost of liquidation work under (1) is definitely higher than cost of "liquidation distribution" under (2).

In the SPAC-sona case, final cost of liquidation distribution constitutes about 0.675% (equivalent to RM 3.6M) out of 3% (RM 16M) withheld pending finalization of liquidation.

For Rsena, I believe that cost of liquidation distribution will not be much different, though winding up work for Rsena is, obviously, relatively easier than that for Sona.

Amount of fee payable to liquidator (appointed by company, under voluntary winding-up) is generally need to be approved in EGM.