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Red Sena calls it a day

THE winding up of Red Sena Bhd marks the end of a seven-year run of the special-purpose acquisition company (SPAC) listed on Bursa Malaysia.


Red Sena gets green light to close shop

KUALA LUMPUR: The last special-purpose acquisition company (SPAC), Red Sena Bhd, has to close shop after receiving an unanimous decision from its shareholders to wind up.


CLIQ to distribute remaining cash to its shareholders

PETALING JAYA: CLIQ Energy Bhd, a special-purpose acquisition company (SPAC), will distribute the remaining cash in its trust account to its shareholders by the end of this month.


Red Sena set to close down after company fails to secure QA

PETALING JAYA: Red Sena Bhd, the first food and beverage special purpose acquisition company (SPAC), has proposed to liquidate its business after several failed attempts to secure a qualifying acquisition (QA) within the permitted time frame.


Sona Petroleum to distribute monies to shareholders in April

KUALA LUMPUR: Sona Petroleum Bhd, a special purpose acquisition company (SPAC), has obtained tax clearance and plans to make the final distribution of the remaining cash in April.


Subdued but improving oil and gas industry in 2016

KUALA LUMPUR: The oil and gas industry endured another challenging year in 2016 as the global supply glut continued to haunt the market, pushing global crude oil prices to their lows.


Short position

OVER the week, smallish firm XOX Bhd said it was proposing to issue 250 million new ordinary shares of 10 sen per subscription share to Macquarie Bank Ltd, as part of a fund-raising exercise to boost expansion of its Voopee mobile application.


Reaching a turning point

PETALING JAYA: The outcome of Reach Energy Bhd’s shareholders meeting today will offer clues on investors’ appetite for future special-purpose acquisition companies (SPACs) focused on becoming oil and gas (O&G) players. So far, the market has been tough for these types of “cash box” listings.