http://www.thesundaily.my/news/1812357

http://www.thestar.com.my/business/business-news/2016/05/23/reach-energy-to-raise-up-to-rm180mil-via-share-placement/

http://www.thestar.com.my/business/business-news/2016/05/24/reach-energy-plans-to-raise-up-to-rm180mil/

read this and tell me what you think?

time is an essence as well as other factors. at the end of the day, money matters.

anyhow, this is the best time to buy because im pretty sure reach team will want to push the price more than the IPO. Just bought some shares for topping up today :)

wow Kareemabduljabbar, i wonder where you get this info from. Never the less, this is news for all of us. Somehow or rather, to me, being a coochypoo little investor, at the end of the day, its all about the money. regardless its friends or not friends. make a comparison of the top 30 shareholders in Sona and also in Reach. most of them are the same people. if those top 30 vote no for sona, they may vote yes/no for reach. yet we never know. also the EGM is important. if all the vote yes team turn up on EGM day, then it is safer for reach. but if most of the vote no turn up for EGM, hard to say also isnt it. Most of these people are swing by the interests and fast money track. I supposed the best is for reach to tackle and ensure the vote yes people to turn up more on EGM. as for me, i see both ways are making money for me. if i vote yes, it makes money in the long run, oil price is going up again by the time this deal is seal, and many other factors involved. if i vote no, i get my money back with interest but it stops there. will there be anymore SPACs counters in Malaysia, as for the time being, i doubt it. i believe the EGM is the major issue that reach needs to tackle for now. The share registrar will need to monitor closely the ROD for reach's shareholders. okay peeps... weekend is coming... perhaps, others has different view or better ideas to share maybe?

hahaha... good one coolinvestor. i've been on hibernating mode myself too quite a while. somehow or rather i sense something is brewing. not to sure what it is but lets see if our money in this counter multiply soon :)

feifun, i agree with you, just noticed that this is the lowest so far. must tapau then :)

peeps, check out the link below :

http://reachenergy.com.my/home.html

coolinvestor, any advice/comments?

yes speakup, let's huat as a team and buy more and more! i heard thru the grapevine some good news is brewing now for Reach Energy of yet we should know 21 days before the EGM. Therefore, on warrant side, we should keep on buying since the price is so low now. Warrants are risky but the returns are high too once the mother goes up lorr...

seanteoh, i disagree with you. totally two different counters worr and different asset. i heard thru the grapevine some good news is brewing now for Reach Energy of yet we should know 21 days before the EGM. Therefore, we should keep on buying since the price is so low now. Warrants are risky but the returns are high too once the mother goes up lorr...

Ck Chan, am still q-ing too to buy some more. my vote is definitely yes. speakup, i dont gave much but bolehlah cukup makan. lets top up some more and be our own tauke minyak soon :)

http://reachenergy.com.my/newsroom.html

hey peeps, check out the management has top up the shares

http://reachenergy.listedcompany.com/news.html/id/524491

coolinvestor, what do you think?

speak up, u should look into the link above.

i noticed that Tabung Haji and the MTD team Datuk Azmil and Datin Nik has top up their shares as well.

To me this is a convincing move that they have faith and confidence with this QA by Reach.

Although i am just a minority shareholder, i might top up as well. Who's with me?

waseh... so many comment... i'm lost in space already hehe...

anyhow, now is hard to say. must do proper overall analysis why Sona & Cliq goes to the fast exit zone. Time factor is really an important aspect.

As for Reach, we need to look at their strategy in pushing the market price. i agree with cool investor, invest rationally and not with emotions. lcwin and speakup, dont quarrel :) chill ok. if the management really confident in their asset and buy more shares from the open market, what guarantee does it have to push the share price?

brutus, you are looking at another perspective on Kazakhstan review. this is a good info as well but the legit of this info?

hmmm... many comments based on different perspective. i was at the AGM yesterday and yes it went well. i rush off to Sona after Reach AGM finishes earlier than i expected. there are good questions were asked during the AGM although there are some shareholders were unclear of the overall situation.

Coolinvestor, i do agree that 75% approval rate is based on the majority shareholders. regardless they care about long term or not, it depends on individual or corporate shareholders. i am pretty sure that for corporate shareholders they are looking at the long term value. for most individuals, it is always the short cut tapau make a bit and go off, just like the routine gamblers make a living. win some and keep rolling. however, in order to please the individual shareholders, most big companies especially the FMCG per say, they give out many stuff during AGM/EGM to entice the majority shareholders. Yesterday at Dutch Lady, many turn up as DL was giving away lots of product to entice the shareholders. even on food served, that also plays a major role. the thing is, we cant please everyone and anyone. just a matter of strategising how to tackle the shareholders on corporate and the individuals. it is unpredictable i would say because the minority will based on word of mouth (usually) and the majority (especially corporate) they look at it with a different perspective.

we also need to look at the bigger picture, the industry factor, political, market trend etc etc.

CK Chan, lets do a poll here and see how many vote yes, how many no :) just to get a rough idea of the EGM voting

hahahha... we shall see the 'movie' on 26 April 2016 lol...

looking good. I guess LTH has confidence in this asset. AGM is next Tuesday and let see how this share price will roll further

hmm... apologies guys and gals... coolinvestor, i like your statement 'not DIE supporting it nor asking to fail. ' THINK POSITIVE. speakup, share the good news rather than being a rotten apple in this basket and spoil the other apples, why dont u commit 'juicing' urself. lol.. pardon my french.

whatever it is, fingers crossed. 26 April is soon and EGM vs AGM... decisions decisions....

atarah, if the mother share goes up, warrant holders should be smiling on the way to the bank, thats the way i see it :)

cruise, on what basis makes u think Reach QA will fail? coolinvestor, i heard Sona took the media to Aussie for a Fam Trip (pr/media jargon) and the outcome? speakup, how sure are u? current oil price still within the 38-42 range atm. i would like to see any legit n rational timeline over the assumptions of pass or fail. :) and if liquidation take place, how long will this be process? my personal opinion, vote yes and let the money roll for a long term and sustainability of the returns rather than cashing out and take a one off cheque that might be -ve figure due to the time for liquidation, deduction of the tax payable, expenses etc...

hmmm.... this is the problem of speculations. your understanding from statement made is very subjective. the way i see it, it is good to get investors to accumulate more shares as they are very confident of the asset. the BFM radio interview today was a good one as it clarifies the air of what many may misinterpret on the media write up. no one can control the way media writes the article unless it is an advertorial.

never the less, the share price seems to be on the upward pattern and i like to quote the MD of Reach, i am confident of this asset and looking forward to favourable and promising returns. the market sentiment is beyond anyone's control.

*copied from the warrant forum
Atarah Lady D ,I am in after reading your post. TQ
Did not have much money left to buy but manage to buy 38,000 shares of reach wa at 0.04 cents at 12.29 plus 58 seconds just before 12.30 PM click.
Immediately i click buy online immediately i see 12.30pm and it was registered as match all in my screen. Hope it is a good sign
13/04/2016 13:38

i agree with you coolinvestor. this somehow kinda fishy of CS & PAG. why come in now? why not before. price has never change within the 6 range.

i do hope all will turn out well despite the sneaky move by CS & PAG.

http://reachenergy.listedcompany.com/news.html/id/519967

Coolinvestor, what do you think of this? seems to be the same modus operandi with the other spacs PAG & CS pumping in money.

seems to be 26 April is a busy day... AGM & EGM, KLGCC and Shangrila.... hmmm... contemplating

speakup, i go to all the AGM that i have my fair shares in.
coolinvestor, i agree with you. we are all adults and some of us are new players and some of us are just in for each and everyone personal preferences.

As for me, AGM for any company is important as you are getting it from the source itself and ask there and then rather than making speculations after.

have a good week ahead

speculations and more speculations. then again, freedom of speech and opinion is free unless you are a consultant.

Anyway, friday ramblings, when CS and PAG speculations was made differently, and now Tabung Haji, another different speculation on it. financial experts in here, would love to hear your say on this.

what i gather here is

1) CS & PAG are just in for the returns and they will vote no for EGM
2) Tabung Haji - sensitive issue if it were to involve politics/govt agency/body. we never know they are topping up to stay or same as CS & PAG
3) share price issue - can someone share with me the analysis and chronology of all 4 (hibiscus, cliq, sona & reach)

but again, all of the above are just some concern that arises. i am pretty sure Reach Energy team are monitoring all of us here. the way i see it, their extra effort for their investor & media briefing is excellent as it reaches out the public and the investors.

how we perceive is another matter, like the phrase, 'i'm only responsible for what i say, not for what you understand'

TGIF, have a good weekend and see you gentleman at the AGM of Reach Energy on 26 April!

p.s : was at KLGCC for Women Tennis Tournament recently.

speakup, not much but cukup makan lor. i agree with CK Chan, timing is also an essence. that's why the strategy is important. early submission is definitely a good planning as they need to give buffer for all relevant parties.

http://www.thesundaily.my/news/1752133

lol... i missed out on this one.

lcwin: thanks for sharing. I am sure most of us are amateur investors and sharing our two cents worth is no harm as long as it positive vibes.

On the other hand, i don't really agree with speakup comments on the spacs.

Firstly, Hibiscus is the first SPAC in Malaysia and SC terms and conditions was tighten upon the other spacs and not during Hibiscus time. Even though they have 'graduated' from SPAC to a full E&P company, what's the outcome of the asset that they acquire? many news are floating now and perhaps another reading session on Hibiscus Annual Report can spare us the info.

As for Sona and Cliq, it's different assets, different location, different size of acquisition and evaluation plus their JPA submission to SC, some issues as per written by the media, do we actually know what's going on behind those close doors?

same goes to Reach Energy. Yes we can see their effort in reaching out to the current investors and potential ones, isn't that business 101? when you have a business running and you want your shareholders to pump in more or to maintain their shares, you need to update them with the progress, new updates/products/performance etc.

For the share price, Hibiscus is lucky because they are the first SPAC and got all the way approved and now are in the market with the other big boys although still in the early stage, none of the SPACs deserves to be compared the same way just because they are in the same category. It is the assets, expertise, evaluation and many other factor to look into. This is the problem with all of us, human nature, ALWAYS thinking on the negative side and influencing others directly or indirectly by our amateur/professional opinion. I am very sure all three SPACs hires professional evaluators for their QA.

Be a good investor and pass on positive vibes, your personal opinion are yours literally. If you believe in this counter, keep on investing and vote yes, but if you don't, save your negative comments unless you have legit info to back it up and prove why it wont work.

my thursday rambling... just sharing and thinking out loud. Gonna check on the other counters to see whether my money has check in to work and start rolling for me :)

http://www.bernama.com/bernama/v8/newsindex.php?id=1232542

http://www.thestar.com.my/business/business-news/2016/04/06/reach-energy-to-submit-qa-proposal-by-next-month/

http://sme.org.my/2016/04/06/reach-energy-to-submit-qa-proposal-to-sc-by-may/

Some of the news on their QA. time to read..

hmm... the shareholder list are as at 29 February 2016... now already April 4, am sure that with the announcement of changes in sub-shares will have a difference. Coolinvestor, what do you think? are you digesting the annual report now? i'm downloading it at the moment

Fyda, vote is during EGM. The notice is for their AGM on 26 April 2016

morning all... thank you speakup for sharing the article.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5048121

Reach has announce the AGM. Looking forward to their reports then we can have the list of shareholders.

Kareem, what briefing is Reach organizing? any legit info on that? would like to know more too.

cheers

Walaweh... i been away 2 days , house party la here at this forum.
Anyway, i agree with you coolinvestors.
The perks being the last o&g spac :) lets wait and see for their agm announcement, its already April now. last year they had it in January

last year their AGM was in January 2015 (FYE 2014). You can refer this at their website as that was what i did.

i am waiting for the announcement for the AGM as well :)

fyda74, my pouch is only in the mother shares and none on the baby warrant side. Perhaps coolinvestor can give some advice?

wow... This is interesting.. i rather not believe or put my money bag at jeopardy just because someone says *based on insider information. For all you know, it is a well known terms/trend that people will quote someone else of which the quote comes from themselves. rumours... lol.... Don't simply assume on the 'touch and go' investors like CS and PAG. i saw the announcement of these CS and PAG on REACH today.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/#/?category=all

(under item 28 & 29)

fiamma20, share with us the source or any proof that SONA has lost the 45% vote and also on what ground u relate the failure of SONA and CLIQ will give the same result to REACH?

again i like to remind why i am keeping my shares in all three are for a special reason, and since this is REACH's forum, my shares stays in REACH because of their proposed acquisition is a cash cow in the near future if you know how to read the announcement made by them previously.

don't assume based on rumours, get the fact straight and compare apple to apple, not apple to kedondong umbra ok :) all 3 dif assets, dif evaluation, dif venue, DIFFERENT. therefore, result of voting also DIFFERENT ma :)

thanks Coolinvestor. info highly appreciated.

hmmm... apparently many claims cs sold their portion to pag. i would like to see the legit claim of this rather than assuming it.

anyone here has that info?

good one coolinvestor. i second your motion. the substantial share holders are important as we need to see their trend of pumping money in for short or long term.

both company AGM is soon and im just waiting for the announcement.

i saw the PAG - reach too. i dare not speculate on that. PAG set their mark in all 3 O&G SPACs, cliq, sona and reach.

the rejection rate is based on ? any links / info more on that?

firehawk, how can it be the same when its 2 different asset... this so call book smart and street smart investors/commentators are looking at the category and not the asset/acquisition. this comparison is not like petaling street gucci handbag to be compared with the original gucci handbag in klcc. lol... just like the title la, finance director, human resource director, they both have the word director in it, does that means they do the same meh? same post, same title, different scope different person, then result also different lah. Sona , Reach , Cliq, same SPACs oil & gas, Red Sena also the same category, SPAC. so all this four co's are SPACs, same category, 2 different industry, 4 different acquisition, 4 different promoters/talents/personnel, all has their own expertise, word of the day DIFFERENT, as simple as that, how can the result be the same. Dont judge based on assumption. Different chefs different taste lah although its the same menu char koey tiaw.. cheers :) and the shark gets the free publicity lol....

i totally disagree with you Kareem. Look at the ringgit now is getting better and better. Same goes to the oil price. How can you compare Sona and Reach? Just because they are in the same category as a SPAC doesnt mean their rise and fall will be the same. Although both are SPAC but the asset that they are proposing are 2 different asset. very sad how people perceive that SPACs are compared by their category and not the asset they are buying. TWO DIFFERENT ASSETS , TWO DIFFERENT SCOPE OF WORK/EVALUATION/RESULT OF THE ASSET, TWO DIFFERENT COMPANIES/TEAM/PERSONNEL etc etc. they only falls under the SPAC category but TOTALLY DIFFERENT ASSET. it is frustrating to see how shallow/narrow minded some people are when it comes to things like this. sometimes we think that we know everything but there are other people who knows more than us. Demotivating other investors by saying Reach and Sona not gonna make it is an assumption made by individual based on what record? if one bird cant fly, the others cant fly too is it? whatever it is, i have asked many advise from different people from different industry about SPACs and also about oil and gas. Black Gold sets the market and the world economy. Compare apple to apple lah and not compare apple to pears. it is funny when you think you are right just because someone or some people keep on telling u SPACs will not make it but u did not see the big picture or the long term investment here which are already been revealed in their announcement. just like the saying, if you have a tooth ache, you go and see the dentist and not the pilot. lol... anyway, to other investors, happy investing. share the positive vibes instead of the negative ones. A little smile, a little praise wont hurt. Pray for Istanbul and Brussels. Have a good Wednesday.

http://www.bharian.com.my/node/135603

check out this article

more news about the asset they are proposing. to me this kind of info is important. keep rolling rolling :) and see the money grows :)

http://www.bharian.com.my/node/135603

yeap. i think Reach Energy is reaching out to their shareholders, media and everyone in general by clarifying this matter since there were mixed news of positive and negative about this QA. very common of speculations from everyone, because opinions are very subjective. Again, if the people who knows and have many years experience in the o&g industry, they will appreciate the stance Reach Energy is making, hopefully it clears the air. In fact one of my investors coffee buddy did call them and ask when is the AGM, it will be held in late April 2016. Am pretty sure we can see the advertisement of the AGM in the major papers soon Coolinvestors. Kudos to Reach Energy team for being attentive to the confusions, speculations and they handle the situation with professionalism. Lets hope the price will go up and more, just like the Brent oil price last week it went up at 42 :)

i read the last announcement, it is actually a good news. It clarifies the confusion of the asset value that they are proposing to purchase. On top of that, please take a look on the reserves. That's where the money will be rolling and time for us to vote for it during the EGM. This counter is where i will get my ka-ching.

hahaha... coolinvestor, i own their warrants too but mother share is more important leh. :) tapau both heheh... anyway, check out the link below.

http://www.theedgemarkets.com/my/article/reach-energy-aims-complete-qa-3q

happy investing guys!

The MR article has made a big mistake. Reach only paid $154.9m , lah. Since Emir has negative equity and owes shareholder MIEH some $288m, Reach paid token $1 for the 60% equity and bought 60% of the outstanding shareholder loan ( plus accrued interests) which is 0.6x$288m plus interests =$173m plus interests for only $154.9m ( at discount of more than 10%). This means whenever Emir Oil makes profit , the priority would be to pay back the shareholder loans and accrued interests. So really , Emir Oil owes Reach $154.9m plus accrued interests. Reach bought this asset for a song , folks. Read the Announcement carefully and don't jump to grossly wrong conclusions.Rather than infecting money in the form of equity, clever people like Reach extend shareholder loan to buy equity. Sorry to see the journalists at MR miss this and the people out there took it bulat2. Like i said, get more info, if dont understand then go ask the experts. Most journalists only write what they understand, unless if they are from the o&g industry itself, they will know how to analyse with pros and cons. Yala coolinvestor, shallow minded people will keep on condemning spacs because its new in Malaysia. Once Reach work hard for the money i put in, the rest who liquidate will be crying lah. Like the malay idiom says, putih mata. And people who stay on board will be happy with the E&P company later on. Question yourself la peeps, would Reach be 'jual minyak' on something that is not good? Of course not, no one will do so. The way i see it, with the info in the announcement about the acquisition, the MD interviews and their confidence in this acquisition, my shares stays in Reach counter for a LONG TIME ;)

Oh my. malaysian reserve must have read the announcement wrongly. Reach Energy is buying 60% of the shareholder loan extended to Emir Oil by the Seller which means Emir Oil will owe Reach that shareholder loan plus accrued interests and not Reach will owe anyone. This is the problem of reading and interpreting own their own understanding. And what is the problem of this mentality negativity thinking of spacs? The more people keep on thinking 3 years invest and take home the cake, the worst it is. This is NOT insurance package or ASB loan kind of thing, once mature, take the cut. Oil and gas : Energy. No petrol, vehicles, machinery and many things no jalan. Read more, ask the experts, and understands better. Im pretty sure u peeps has friends or relatives working in the oil and gas industry. Once the voting is on, im banking in more money here based on the reserve. Malaysia Airlines was in debt too and they managed to turn it around altho not in full speed but the most important thing is they pick up and progress, is that what u peeps think as a failure too? Lol... Shallow mindedlah...

haiya... why so kanchong one? and just because the word debt u think its bad news. very shallow la i would say. Pundit, that USD20 per barrel is an estimation +- isnt it? not as confirmed basis. The oil price forecast also fluctuates and again i like to highlight that the reserve are the one that we should bank our money into. for others, don't simply make assumptions, the MD looks confident and answered the media on The Edge and Bloomberg with the facts that they have disclosed to the public. read the announcement in details and ask people from the industry to explain further rather than pandai pandai make own assumption.

as for me, i see this investment as an ongoing one. Energy, much needed regardless fossil fuel or renewable energy. Ok peeps, have a good weekend. this counter movement looks fine to me altho the ups and downs. what's new? lol... cheers!

good morning fellow traders/investors!
Speakup, u know what u want and u end it there, 40K is good money, but as for me, i want my money to grow and grow. Kareem, fair play not only for sports, for business and other matters too lol. Pundit, i dont know if you agree with me, the way i look at Reach's announcement on Bursa link, the reserves are looking good. As far as i know from my friends who are in the O&G industry, the Reserves are what we should look at instead of the current production. Correct me if i'm wrong.

Btw, check out the MD of Reach Energy interview aired Live at Bloomberg TV yesterday.

http://www.bloombergtv.my/video/huge-downstream-potential-for-reachs-qa-target-ceo/

ok, am back to watch how my money works for me today :)

Pundit, you are right. Onshore operating cost is less compared to offshore. it's good to know that you made your calculation based on the public docs and also on average calculation. However, other factors also need to be taken into consideration i.e: world oil price, political issues, etc etc. On another note, uncertainty is subjective and being a real deal investor, i would like to see my money grow and expand on a longer period rather than liquidating it upon the vote. Cheers! :)

Getting info from the reliable source is IMPORTANT. as for the news on media (broadcast/print), they too refer from reliable medium because, if they were to publish false info, they can be sued. am pretty sure that all SPACs are following the rules from Securities Commission and Bursa. My advise is, get as many info from all the sources, digest and understand, after that make comments. Opinion is free unless u sell urs but knowledge is pricey :) sharing the right info is crucial especially when the mind set is blocked with the 3 years thingy and also not analysing it in a wider spectrum.

Ladies & Gentlemen, click on the link below. it's the Company Announcement on Bursa link. Definitely legit :)

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5022573


Comparing these 3 SPACs is common, but on what base are you comparing it with? are they on the same regulations by the SC? if you were talking about the acquisition, not all 3 SPACs are buying at the same area. 1 in Australia and the other 2 in Kazakhstan, still, on the technical aspects of it, are we experienced enough to make assumptions on the forecast? opinion is free then again, better be good ones. :) happy trading traders

Gentlemen, click on the link below. it's the Company Announcement on Bursa link. Definitely legit :)

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5022573

Pundit, perhaps you can make the calculation based on the info from the public document. Apparently the media has use this as their reference for their article for Reach.

hahaha... coolinvestor, i agree with you. Put the right forum to the right page, Sona on Sona, Cliq on Cliq and Reach on Reach.

Comparing these 3 SPACs is common, but on what base are you comparing it with? are they on the same regulations by the SC? if you were talking about the acquisition, not all 3 SPACs are buying at the same area. 1 in Australia and the other 2 in Kazakhstan, still, on the technical aspects of it, are we experienced enough to make assumptions on the forecast? opinion is free then again, better be good ones. :) happy trading traders

i agree with coolinvestor. Getting info from the reliable source is IMPORTANT. as for the news on media (broadcast/print), they too refer from reliable medium because, if they were to publish false info, they can be sued. am pretty sure that all SPACs are following the rules from Securities Commission and Bursa. My advise is, get as many info from all the sources, digest and understand, after that make comments. Opinion is free unless u sell urs but knowledge is pricey :) sharing the right info is crucial especially when the mind set is blocked with the 3 years thingy and also not analysing it in a wider spectrum.