Red Sena targets internal rate of return of 9%

Going public: Joseph (left) and Ang Meng at the interview. Joseph says the F&B industry takes a longer time to add value into the business before reaping profits.

PETALING JAYA: Special purpose acquisition company (SPAC) -- Red Sena Bhd is targeting a minimum internal rate of return (IRR) of 9% for its qualifying acquisition (QA), which it described as a reasonable level in the food and beverage (F&B) industry.

In explaining the IRR target, Red Sena chief strategy officer Datuk Tan Ang Meng said that F&B business was resilient and hence demanded a lower risk.