The United States presents a compelling market for Malaysian firms interested in SPACs or special purpose acquisition companies due to attractive returns, said ARC Group.
President Sergio Camarero said the group is mandated by various companies, including those in logistics, healthcare, and financial services to acquire local Malaysian companies as a way to invest and enter the market, The Sun reports.
“While SPAC activity in Malaysia’s exchange has been lacklustre, Malaysian companies that have ventured into the US market have achieved success,“ he said.
There were 15 Malaysian-sponsored SPAC initial public offerings on the Nasdaq between 2021 and 2023.
These companies included Canna-Global Acquisition Corp (with a SPAC size of US$230 million) – making it the largest Malaysian SPAC), Data Knights Acquisition Corp (US$115 million), Energem (US$115 million), Liberty Resources Acquisition Corp (US$115 million), and PHP Ventures Acquisition (US$57.5 million). Read more.
