CLIQ seeks judicial review on SC's decision on proposed asset acquisition

Best Oracle Sdn Bhd, the promoters of CLIQ, said in an announcement yesterday that it had applied for a Judicial Review (JR) on the SC

PETALING JAYA: In an unprecedented move, the promoters of special-purpose acquisition company (SPAC) CLIQ Energy Bhd are seeking a legal opinion on a decision by the Securities Commission (SC) that sought more information on the proposed asset that it was acquiring.

Best Oracle Sdn Bhd, the promoters of CLIQ, said in an announcement yesterday that it had applied for a Judicial Review (JR) on the SC’s decision on Jan 7 to further query the status of the 2P reserves estimates of the qualifying asset (QA) that CLIQ had proposed to acquire.