Red Sena gets green light to close shop
Tan: We do not want them to overpay or buy assets for the sake of doing a deal
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.
In a meeting yesterday, a total of 641.97 million shares or 100% of the shareholders had voted to wind up and liquidate the company.
According to Red Sena executive director and chief executive officer Joseph Tan Eng Guan, it would take about 30 days for the liquidation process to take place, which would see the distribution of cash in the trust account to its shareholders.
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