Posted by callme777 > 2016-03-08 09:31 | Report Abuse

“If either Sona or Reach Energy’s share price falls below their respective cash values prior to the voting on the QA, then this would mean their yield shareholders would likely vote against the QA to get back the cash,” said an investor who has exposure to both SPACs.

So who say is 5 percent short term?

Posted by callme777 > 2016-03-08 09:34 | Report Abuse

These investors include large fund houses such as Credit Suisse and Pacific Alliance. For them, the fact that SPACs offer 90% of the cash back allows them a yield of almost 7% per annum compared to the cost of funds of 4%.

In Sona’s case, the cash value of its shares amounts to 48.5 sen, while for Reach Energy, it is about 75 sen each.

Posted by coolinvestor > 2016-03-08 10:14 | Report Abuse

Aiyo..still arguing. If the deal is not approved u will get a refund too. Either way u will not lose.

Let's just see how it goes. This deal approve or not is already causing some much anxiety n stress among u...haha

N I wonder how much money u guys put in? U have got to learn to detach your emotions from money. If the risk of losses are too great for u. Just sell n go.

Those who can stomach stay. BTW find out first the mandates of credit suisse n Pacific funds. Even news can have conflicts. Dun blindly believe.

Posted by callme777 > 2016-03-08 10:29 | Report Abuse

This is call arguing? Lol

Posted by MG11 > 2016-03-08 10:44 | Report Abuse

Some of the comments are just like Astro Reruns..
Old, stale, and irritating...
If got nothing to add, just sell. Or wait for 30/3.

Posted by coolinvestor > 2016-03-08 11:27 | Report Abuse

Unfortunately there are lots of ppl condemning, pointing out faults, giving negativity. This is natural. These are the Ppl who are easily influenced by everyday news n react accordingly. Are they trying to say."we told u so!!"? We dunno.

The thing is. U can give out discussion, ideas why, n have a proper deduction. We are not defending Sona. There are always reasons for it to fail. Oil crashes, hadian died lol etc.

Like for the latest news cs n pag will vote no if below refund price. Yes it's possible. But what are their funds mandate? Anybody go n chk?

Dun just argue for the sake of argue. Sounds like u have already given up on Sona. That is your prerogative of course...so then just sell n go. Look for other better company why waste time here?

I have checked on cs n pag they are mostly hedge funds..hmm

Let's see how it goes

We as investors must try to get as much info as possible to make the investing in OUR favor.

Seems, like not a lot is trying to do that. Some may even spread false news. Just Becareful n decide for yourself Amen

Posted by callme777 > 2016-03-08 12:59 | Report Abuse

Below 0.485 before EGM, just vote against it. This i advice you

Posted by CLIQmanagement > 2016-03-08 13:03 | Report Abuse

we need more details of the QA before can decide. Should be publishing soon.

Posted by coolinvestor > 2016-03-08 13:31 | Report Abuse

It would be prudent to at least attend the egm n vote accordingly after listening to what the management have to offer. Then u can decide.

It's not right to simply said its bad or right without basis. It sounds like an emotional rash decision

Posted by prc4wifefe > 2016-03-08 15:15 | Report Abuse

How much % owned by Credit Suisse and PAG?

Posted by coolinvestor > 2016-03-08 15:26 | Report Abuse

they collectively own about 22 23%

Posted by jack2 > 2016-03-08 15:43 | Report Abuse

Brent holds above US$40 as investors call bottom on oil rout


SINGAPORE (March 8): Oil prices fell on Tuesday on weak Chinese trading data, but Brent remained over US$40 a barrel after jumping to 2016 highs the previous day when producers announced talks to support the market and investors opened new bullish bets.

Brent crude futures managed to defend US$40 per barrel, standing at US$40.27 at 0647 GMT, down 57 US cents from their last settlement. On Monday, the contract had surged over 5.5% in intra-day trading and has gained almost 50% from its 2016 lows on Jan. 20.

US West Texas Intermediate (WTI) futures were at US$37.48 a barrel, down 42 US cents from their last close but over 40% up from their 2016 low on Feb. 11.

On the demand side, China's crude imports jumped 19.1% between January and February to 31.80 million tonnes, or about 8 million barrels per day, despite overall weak trading figures released on Tuesday.

"Higher 'teapot' (independent refinery) demand and stronger refining margins which encouraged higher refinery throughputs have contributed to increased imports. Falling domestic crude production is also supportive," said Virendra Chauhan of Energy Aspects.

Posted by jack2 > 2016-03-08 15:44 | Report Abuse

BULLS VS BEARS

Following steady rises from late February on the back of a falling US rig count, oil markets soared from last Friday after Russia's energy minister said that a meeting between the Organization of Petroleum Exporting Countries (OPEC) and other oil producers about freezing output could take place between March 20 and April 1.

Late on Monday, South American producers also said they would meet to talk about action to support prices.

Gary Ross, executive chairman at New York-based consultancy PIRA, said that oil would recover to US$50 a barrel by the end of the year.

"They (OPEC) want US$50 oil, this is going to become the new anchor for global oil prices," said Ross.

In anticipation of higher oil prices, traders have started to cut back short positions that would profit from lower prices, while opening up new long positions that bet on higher prices.

But Goldman Sachs cautioned of an overblown price rally.

"While these dynamics (rising prices) could run further, they simply are not sustainable in the current environment ... Energy needs lower prices to maintain financial stress to finish the rebalancing process; otherwise, an oil price rally will prove self-defeating as it did last spring," the bank said in a note to clients.

It added that only later this year would production have fallen enough — driven by cuts in the United States, Iraq and Nigeria — to bring it closer in line with demand, although it said it saw a supply deficit by 2017.

Posted by jack2 > 2016-03-08 15:51 | Report Abuse

(OPEC) want US$50 oil, this is going to become the new anchor for global oil prices.

IRR projection will be significant in investment decision in view of the recovering oil price
if production cost is usd25 and oil price around 45 to 50, I believed the IRR shud be exciting

however, those investors with medium to long term investment holding may differ from those with short term outlook

Posted by coolinvestor > 2016-03-08 15:58 | Report Abuse

nice info jack2

Posted by YC_Ma > 2016-03-08 16:09 | Report Abuse

Run

Posted by pontianboy > 2016-03-08 16:56 | Report Abuse

Hi idiotic YC_Ma, can you please just stay away from this forum and stop disgrace yourself by your non-value added comment?
You are a nuisance and making a fool of yourself. Pity you....
People are trying to share/read/collect valuable information here and hopefully making correct investment.

Posted by ab55 > 2016-03-08 17:25 | Report Abuse

Sokong this frustrated guy should go away, pigi jauh-jauhlah

Posted by YC_Ma > 2016-03-08 22:47 | Report Abuse

Wahahahaha jagan mara

Posted by Kareemabduljabbar > 2016-03-09 08:39 | Report Abuse

Anyone read the article in today EDGE daily ? Not exactly the bullish leadership of someone expecting a successful QA. Let us see the share price today.

Posted by stockmanmy > 2016-03-09 08:43 | Report Abuse

all spacs will return their money.

Posted by jack2 > 2016-03-09 09:36 | Report Abuse

Check out EGM circular on Bursa website
so much info to digest

Posted by lly316 > 2016-03-09 10:24 | Report Abuse

If QA not approve, by when will Sona refund to investor? by Aug or?

Posted by jetchew > 2016-03-09 10:35 | Report Abuse

By when can get the refund ?

Posted by akhan1717 > 2016-03-09 11:08 | Report Abuse

hey guys...be rational...why the the fuss of not approving the QA?
U guys waited 2yrs with hope tht SONA will get a good QA...now when QA is in hand ...excuse to run it down...???????..just wait and look at the financial reports first b4 deciding to invest bros....

Posted by coolinvestor > 2016-03-09 11:24 | Report Abuse

Unfortunately...so many are so short sighted nowadays..but it can't be helped.

Let's see how hadian convince the major guys

Posted by callme777 > 2016-03-09 11:38 | Report Abuse

The stock price at curren levels are not convincing!!! I bought at 0.40 and up 20 percent! Why not just take 0.485 and go

Posted by ktsk88 > 2016-03-09 11:40 | Report Abuse

SONA finally managed to buy a good producing QA and you guys complain and plan to voted it down, when they're going around scouting QA, you guys said why so slow why Bursa not approved it................what the hecks you guys want?.

For heaven sake,please just voted for it since they have the QA at hand......and the oil is rebounding.

One SPAC failure in Cliq n Hisbiscus doesn't means SONA must follows the footstep......only fools will think so.

Just stop commenting and give conflicting statement affecting the real shareholders that which to voted for it.

Posted by callme777 > 2016-03-09 11:54 | Report Abuse

We need the stock to be convincing la. At least above rm0.485.

Posted by coolinvestor > 2016-03-09 12:08 | Report Abuse

well the ipo was at 50sen. so it makes sense to push it up above 50sen.

as to why they are not doing it yet...cant really answer that. But hadian did say he's going to meet with the big fellas now.

So lets see how it goes. you cant also really expect the stock price to shoot up just like that. Remember our klse is not like dow jones or sgx....we are only a small pond compare to a big ocean like them.

so our liquidity is very shallow hence we need time.

Posted by fauzan > 2016-03-09 12:08 | Report Abuse

Now moving...

Posted by ktsk88 > 2016-03-09 12:34 | Report Abuse

why should i move the stock to convince you guys to voted for the QA. The SPAC was created to look around for QA and remains listed.

So now they found one, and you guys talking about getting back the investment cost of 50 sen?..................when they listed you guys already get the bonus warrant that can converted in cash upon disposal...........and at one stage the warrants was traded at 33 sen..................you guys should have get the returns............why the fuss now.

Posted by stockmanmy > 2016-03-09 12:38 | Report Abuse

if they want a YES vote, the price got to be higher than the refund at AGM.

Posted by ktsk88 > 2016-03-09 12:40 | Report Abuse

why still wanna think about refund of 50sen...................the oilfield is generating income after 30 March...................that is sufficient to re-rated the stocks later on and it could be more than 50 sen.

Posted by ktsk88 > 2016-03-09 12:41 | Report Abuse

if you guys investing in stocks to get refund, better put in bonds or unit trust.....not stocks of SPAC................you defeat the purpose of investing.

Posted by jack2 > 2016-03-09 12:44 | Report Abuse

just typical of retailers mentality
buy today & expect price to shoot up in short time

Posted by ktsk88 > 2016-03-09 12:47 | Report Abuse

I will voted for the QA so the stocks will re-rated later....once the quarter result coming in later.

Posted by Old90 > 2016-03-09 12:49 | Report Abuse

If Vote Yes in coming March 30, definitely Sona Wa gonna shoot up.

Posted by Kareemabduljabbar > 2016-03-09 12:50 | Report Abuse

Below 50, vote No. My broker say over 15 % will vote No and have already prepared the Nominee forms. These are large holders, but non institution. He has to push convincing above 50 else any rational investor will simply vote No. Wait for share price to collapse after the deal, if approved and buy cheaper. or just get cash back.

Posted by callme777 > 2016-03-09 12:54 | Report Abuse

Below rm0.50 vote no buy retail and major shareholders. They can't get the QA. So.... Be smart and push it up or say good bye. I own 1.3mil shares of sona , I know is a small percentage but every percent counts. At the moment I am voting no

Posted by stockmanmy > 2016-03-09 13:33 | Report Abuse

classic dilemma, Hobson's choice.

no one will push it above refund in case No wins.

and no one will vote YEs if price is below refund.


in summary....all the Spacs are doomed to die.

Posted by coolinvestor > 2016-03-09 13:59 | Report Abuse

I tot insider info is illegal?

Posted by speakup > 2016-03-09 14:01 | Report Abuse

refund is 50sen? thought it was 49sen.

Posted by jack2 > 2016-03-09 14:03 | Report Abuse

just a poker game whether it is 5%, 20% or 35%
yr guess is as good as mine

Posted by ruslimz > 2016-03-09 15:04 | Report Abuse

some investors feel the price will not go up before confirmed yes vote......some investors want the price to go up first before yes vote at egm.....goes back to egg first or chicken first......use your head and not your heart if you to be a good investor......

Posted by jack2 > 2016-03-09 15:39 | Report Abuse

if yr name is not in the ROD on 23/3, you cant attend the EGM though you may have bought after the cut-off date

Posted by CLIQmanagement > 2016-03-09 19:07 | Report Abuse

So the last few days is the time to push up the shares.

Posted by jack2 > 2016-03-09 19:28 | Report Abuse

yeah, tday, move up a little. hope it will gain momentum for greater upside, so everyone has a good ending

Posted by Kareemabduljabbar > 2016-03-09 21:54 | Report Abuse

I was told that if you hold the shares you can vote anytime up to the EGM day itself. To own the shares, you must buy before 23 March. After 23 March if you buy, you cant vote. So ask yourself this, who in their right mind will buy after the 23 March ???? You don't control your destiny (you could end up with 48.5 cts cash or you could end up with an oil and gas stock). Certainly no institution will do this. So if no buyers but there are potentially seller, which direction will the stock go ? If you are the Promoter and you wish to ensure success, how much higher must the stock be before 23 March to be withstand the selling, if any (remember, no logical buyer) after that date. You have between tomorrow 10th March and 23 March ie 10 or so business days to get the stock to this level. Ask yourself this question. Do you think this is realistic ? This SPAC at the moment, with at least 15 % already doing the paperwork to Vote No, is dead. Completely dead. Remember that any 20 %, and I mean any, vote No, and this deal is dead.

Posted by CLIQmanagement > 2016-03-09 22:38 | Report Abuse

my view is those who want to collect enough share has collected enough. after 23 March, to push it up to influence the shareholder who is eligible to vote.