10% return per annum, for real or not?

Read about Red Sena (a Malaysian-listed SPAC) today:

http://www.theedgemarkets.com/my/article/red-sena%E2%80%99s-qa-likely-thailand-indonesia-and-m%E2%80%99sia

Trust cash value at RM0.46 with interest on trust money at approx. 4.4% per annum. Max of 3 years to get the money plus interest back if there is no QA.

Worked out some simple calculation, not sure whether this is right or wrong but if everything works out accordingly, should be able to get an  internal rate of return of approx. 10% if at current mkt price of RM0.40

sena

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Author: Ken Utau

Data Scientist, Markets Analyst and Food Lover

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