Is There A Link?

This piece of news just came out last Friday:

KWAP emerges as substantial shareholder in Red Sena

By Kamarul Anwar / theedgemarkets.com | June 24, 2016

KUALA LUMPUR (June 24): Pension fund Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has emerged as a substantial shareholder in Red Sena Bhd, a newly listed special purpose acquisition company (SPAC) targeting food and beverage-related businesses.

In a filing with Bursa Malaysia today, the shell company said KWAP’s fund manager bought 4.02 million Red Sena shares in the open market on June 9, bringing the total number of shares that KWAP indirectly owned to 51.52 million.

KWAP’s fund manager bought another 750,000 Red Sena shares the next day (June 10), according to another stock exchange filing. As at June 23, KWAP owns 52.27 million or 5.23% of Red Sena’s share capital. Red Sena, which was listed on Dec 10, 2015, has been hovering in the range of 40 sen to 41 sen this quarter. It was traded flat at 40.5 sen as at noon break, with a volume 2.76 million shares.

Few months ago, this article appeared in the news:


Is it a coincidence? Red Sena has been very quiet with its first qualifying asset. The million dollar question is whether KWAP acquiring Can One’s dairy unit indirectly via Red Sena? We shall wait for the first qualifying asset acquisition to be announced by Red Sena…


DISCLAIMER: ALL ARTICLES CONTAINED IN THIS SITE ARE FOR INFORMATION AND ILLUSTRATIVE PURPOSES ONLY AND DOES NOT PURPORT TO SHOW ACTUAL RESULTS. IT IS NOT, AND SHOULD NOT BE REGARDED AS INVESTMENT ADVICE OR AS A RECOMMENDATION REGARDING ANY PARTICULAR SECURITY OR COURSE OF ACTION. SOURCES USED IN THIS SITE HAVE NOT BEEN INDEPENDENTLY VERIFIED FOR ACCURACY. YOU SHOULD SEEK INDEPENDENT AND PROFESSIONAL INVESTMENT ADVICE IN REGARD TO YOUR INVESTMENT DECISIONS. THE AUTHOR MAY HOLD POSITIONS IN THE SECURITIES MENTIONED ABOVE. 

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 anĀ  internal rate of return of approx. 10% if at current mkt price of RM0.40

sena

DISCLAIMER: THIS SITE IS FOR INFORMATION AND ILLUSTRATIVE PURPOSES ONLY AND DOES NOT PURPORT TO SHOW ACTUAL RESULTS. IT IS NOT, AND SHOULD NOT BE REGARDED AS INVESTMENT ADVICE OR AS A RECOMMENDATION REGARDING ANY PARTICULAR SECURITY OR COURSE OF ACTION. SOURCES USED IN THIS SITE HAVE NOT BEEN INDEPENDENTLY VERIFIED FOR ACCURACY. YOU SHOULD SEEK INDEPENDENT AND PROFESSIONAL INVESTMENT ADVICE IN REGARD TO YOUR INVESTMENT DECISIONS.