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Hibiscus – the story of a successful SPAC


THE story of Hibiscus Petroleum Bhd ’s growth is an interesting one, considering its funding needs have virtually all come from private investors. The debt-free independent exploration and production company has achieved a few notable milestones.

Not only has it survived making expensive acquisitions before the oil price crash (when it lived as a special-purpose acquisition company or SPAC), it also went through the oil crash and has come out smiling, by being cashflow positive.

Oil & Gas , hibiscus , pheim , polo

   

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