Latest news with #VisionGroup
Pink Villa
4 days ago
- Entertainment
- Pink Villa
Pelli Kaani Prasad OTT release: When and where to watch Sapthagiri's Telugu family drama online
Pelli Kani Prasad is a Telugu family comedy drama that hit the big screens on March 21, 2025. Directed by Abhilash Reddy, the movie opened to mixed responses at the box office and had a disappointing run. However, the makers have now secured a strong OTT deal with a streaming platform, and the film is set to make its digital debut soon. When and where to watch Pelli Kani Prasad Pelli Kani Prasad will begin streaming on ETV Win from June 5, 2025. The OTT giant made the official announcement on X, which read, "Block your weekends… June is packed with powerful stories on @etvwin! From heart-touching dramas to emotional journeys — this month, every film is a must-watch!" Check out the announcement post of Pelli Kani Prasad below: Official trailer and plot of Pelli Kani Prasad The film follows the story of a young man named Prasad. He finds himself caught between deep-rooted traditions and his father's relentless greed. All he wants is to get married, but his father's demand for a hefty dowry of Rs 2 crore turns his dream into a distant reality. Burdened by this demand, Prasad seeks help from an astrologer, hoping for a way out. Instead of a direct answer, he receives a mysterious prophecy — only a change in his father's heart can clear the path for his marriage. The film explores Prasad's emotional and often humorous journey as he navigates the pressures of his own aspirations. With fate playing its part, the story raises a poignant question: can love and persistence overcome age-old customs, or is Prasad destined to remain unmarried? Cast and crew of Pelli Kani Prasad The movie features Sapthagiri, Priyankasharma, Murlydhar Goud, Annapurnama, and Vadlamani Srinivas in key roles. The supporting cast includes Pramodini, Basha, Laxman Meesala, Rohini, and Ramprasad. The film is directed and scripted by Abhilash Reddy, with the story and screenplay penned by Akhil Varma and Y.N. Lohit. It is produced by K.Y. Babu of Vision Group, along with Bhanu Prakash, Sukka Venkateshwar Goud, and Vybhav Reddy Mutyala.
Time of India
4 days ago
- Entertainment
- Time of India
Pelli Kani Prasad OTT Release Date: When and where to watch Sapthagiri & Priyanka Sharma's Telugu comedy drama
Pelli Kani Prasad OTT Release Date: If you missed catching it in theatres, don't worry, this small-town Telugu comedy-drama is all set to stream on ETV Win starting June 5. Released in theatres on March 21, 2025, the film flew under the radar but is now getting a second shot at viewership via OTT. Here's everything you need to know about the film. A marriage that never happens, but why? At the heart of Pelli Kani Prasad lies a hilariously real yet socially biting narrative. The movie follows Katnam Prasad, played by Sapthagiri, a small-town man caught in a loop of failed marriage proposals. Why? Because his father refuses to give a dowry, something that forms the core conflict of the movie. Every time Prasad tries to tie the knot, his father's orthodox stand throws a wrench in the works. Tired and frustrated, Prasad seeks divine help and starts consulting a swami (a self-styled spiritual guru), only to be told that the problem lies within his own home. What follows is a blend of comedy, drama, and satire, exploring how Prasad tackles his family, society, and superstitions while trying to build a life on his own terms. Meet the cast and crew of Pelli Kani Prasad Sapthagiri leads the film with his signature comic timing and underdog charm. He's supported by a reliable ensemble including Priyanka Sharma, Murlydhar Goud, Annapurnamma, Vadlamani Srinivas, Pramodini Pammi, Mahaboob Basha, Laxman Meesala, Rohini and Ramprasad among others. Pelli Kani Prasad is written by Akhil Varma and Y.N. Lohit, with Varma also handling the dialogues. Abhilash Reddy Gopidi wears the dual hats of screenplay writer and director. Behind the production are names like K.Y. Babu (Vision Group), Bhanu Prakash Goud, Sukka Venkateshwar Goud, and Vybhav Reddy Mutyala, who bring the film to life under a grounded setup. Sujatha Siddharth's cinematography captures small-town Telangana with authenticity, while Sekhar Chandra's music adds soul. Editor Madhu keeps the film tight at a runtime of around 118 minutes, and Veda Kalavakuri worked as Creative Head.
Borneo Post
04-05-2025
- Business
- Borneo Post
Rekindling the spark for SPACs?
Understanding the SPAC life cycle (Source: PwC) KUCHING (May 4): Once hailed as the future of public offerings, special purpose acquisition companies (SPACs) surged in popularity before facing a wave of skepticism and regulatory scrutiny. But are they truly a fading trend, or is there a fresh opportunity to reignite their potential? As market conditions shift and investors seek alternative pathways for growth, SPACs are once again emerging as a compelling vehicle—provided they evolve to meet new expectations. The question is no longer whether SPACs can return, but whether they can adapt to regain trust, efficiency, and long-term value creation. Way back when in 2009, SPACs began gaining traction in Malaysia as innovative investment vehicles, offering unique opportunities for wealth creation. Unlike traditional IPOs, SPACs do not have an existing business at the time of listing, making them speculative but potentially lucrative investments. SPACs thus earned the moniker of 'blank cheque' companies: formed with the sole purpose of raising capital through an initial public offering (IPO) to acquire or merge with a private company. Sponsors – often in the form of private equity funds or financial institutions – create a shell company to raise funds for mergers and acquisitions. These vessels then raise capital by issuing shares, and after the IPO, the SPAC identifies a target company for acquisition or merger within a specified timeframe. SPACs are often lauded as it provides access to private markets, enabling investors to participate in the growth of promising private companies without the lengthy IPO process. However, on the other end of the scale is that they carry speculative risks, including the uncertainty of finding a suitable merger partner. Chua Zhu Lian According to Chua Zhu Lian, founder and group managing director from Vision Group, Malaysia's SPAC market faces limitations due to a smaller investor base and reduced market liquidity compared to global markets. 'Stricter listing criteria, such as the previous requirement of a minimum RM150 million fund (now RM100 million) for main market listing and the imposition of long moratorium periods on securities, may deter investors and companies from pursuing SPAC mergers,' he told BizHive, noting that these criteria can raise concerns about investment liquidity and exit strategies. 'Furthermore, a significant number of SPACs fail to meet their mandate of acquiring a Qualifying Acquisition (QA) within the stipulated three-year timeframe. This can be attributed, in part, to inconsistencies in pricing and valuation methodologies. 'Public listing with a SPAC merger can benefit private companies that require a larger capital for growth purposes.' The rise and fall of SPACs in Malaysia In Malaysia, all but one SPAC has survived today. Hibiscus Petroleum Berhad (Hibiscus Petroleum) sets a high bar as Malaysia's first and only remaining listed independent oil and gas exploration and production SPAC. Its listing on the Main Market of Bursa Malaysia on July 25, 2011 set in concrete its position as the first SPAC in Malaysia. By April 18, 2012, it completed its qualifying acquisition, securing a 35 per cent equity interest in Lime Petroleum Plc, which had assets in the Middle East. By June 11 that same year, Hibiscus Petroleum was reclassified from a SPAC to a full-fledged oil and gas company following its acquisition. It has been all uphill thereon. In January 2013, Hibiscus Petroleum expanded into Australia and Oman via a 50.1 per cent stake in VIC/P57, an offshore permit in Australia's Bass Strait, and a 13.04 per cent stake in 3D Oil Ltd. By December 5, 2013, the group was awarded a production licence for the VIC/P57 joint venture in Australia. It made history on February 3, 2014 upon the discovery of light oil in Block 50 Oman, marking the first offshore oil discovery in eastern Oman in over 30 years. The group continued its spate of major acquisitions with a 50 per cent interest in the Anasuria Cluster, an oil and gas field in the UK North Sea, from Shell and Esso for US$52.5 million. On March 31, 2018, Hibiscus Petroleum completed the acquisition of North Sabah's enhanced oil recovery production sharing contract, taking over operatorship from Shell. By January 2022, it acquired interests in three Malaysian PSCs from Repsol Exploración, expanding its footprint in Malaysia. In July 2024, Hibiscus Petroleum secured interest and operatorship in the PKNB Cluster PSC from Petroliam Nasional Bhd (Petronas). In September the same year, it completed a farm-in agreement with PETRONAS Carigali for interest in PM327 PSC, one of the largest offshore exploration blocks in Peninsular Malaysia. This year, in the middle of April, Hibiscus Petroleum's unit, Simpor Hibiscus Sdn Bhd (Simpor Hibiscus), signed a US$100 million (around RM440.95 million) Islamic financing deal with Bank Islam Brunei Darussalam (BIBD) and Baiduri Bank to support its expansion in Brunei Darussalam's oil and gas (O&G) sector. Hibiscus Petroleum sets a high bar as Malaysia's first and only remaining listed independent oil and gas exploration and production SPAC. Hibiscus Petroleum in a statement said the agreement marks a strategic move for Hibiscus as a new operator in Brunei. Simpor Hibiscus completed the US$259 million purchase of TotalEnergies EP (Brunei) BV in October, which granted a 37.5 per cent operated interest in the mature Maharaja Lela/Jamalulalam (MLJ) gas field located in Block B, approximately 85km offshore Brunei Darussalam. The MLJ field, which commenced production in 1999, has substantial remaining reserves and contributes about six per cent to Brunei Darussalam's total gas output. Hibiscus chairman Zainul Rahim commented the financing deal reflects shared values between the company and its Bruneian banking partners. 'This is not just a formal agreement; it is an expression of our belief that we see a long-term future in Brunei. 'This signing ceremony marks a pivotal moment in our collective efforts to foster economic growth, enhance local value, and contribute to the sustainable development of Brunei Darussalam,' he said in the statement. Casualties of the SPAC race However, the same cannot be said for other contenders in the SPAC race. The most recent casualty is Reach Energy Bhd (Reach Energy) who once made its mark in Malaysian history as the SPAC with the largest initial public offering debut on Bursa Malaysia, raising some RM750 million in August 2014. The firm was delisted earlier this week on Tuesday, April 29, 2025, as the group decided not to appeal against delisting after Bursa Malaysia rejected its third request for more time to submit its regularisation plan. The Malaysian stock exchange had cited a lack of material progress since the last deadline as the reason for rejecting the company's request to extend the submission deadline from April 2 to October 2. 'The board of directors of the company wishes to announce, with regret, that all available avenues have been exhausted, the company has decided not to submit an appeal to Bursa Malaysia against the de-listing within the appeal timeframe by April 21, 2025,' Reach Energy said in its filing to Bursa Malaysia. Notably, the group has not had a profitable year since its successful transition from an SPAC to an oil and gas exploration and production company in 2016 after it acquired its QA. Its QA was in the form of a 60 per cent stake interest in the Emir Oil LLP concession in the southwestern side of Kazakhstan, covering a berth of six oilfields. The stake was bought from MIE Holding Corp (MIEH) in Hong Kong with a purchase price of US$175.9 million. After acquiring the asset, Reach Energy had worked on improving production at the concession, but consequently faced setbacks, including sanctions on oil and gas exports imposed on Russia due to the war in Ukraine, which also affected its operations in Kazakhstan. The result was accumulated losses reaching some RM531.96 million as at end-2023, while its shareholder equity dropped to less than 50 per cent of its share capital. This triggered the Practice Note 17 classification for financially-distressed companies — a condition it has to regularise. Meanwhile, Sona Petroleum Bhd (Sona Petroleum) saw the removal of its entire issued share capital from the Official List of Bursa Securities with effect from June 28, 2018 onwards. Back on July 31, 2013, the SPAC listed on the Main Market of Bursa Malaysia. It was unique in that it was the first SPAC in Malaysia to have had a cornerstone and the Ministry of International Trade and Industry (Miti) tranche offered as part of the Institutional Offering. The same fate befell CLIQ Energy Bhd (CLIQ Energy), the second oil and gas SPAC to have listed on Bursa Malaysia, as it was delisted from Bursa Malaysia on March 4, 2019. This announcement came after the group failed to secure its qualifying acquisition within three years. 'The entire issued share capital of CLIQ will be removed from the official list of Bursa Securities with effect from 9am, March 4, 2019 pursuant to Paragraph 16.11(1)(d) of the Main Market Listing Requirements of Bursa Securities,' it told Bursa Malaysia in a filing. Meanwhile, share trading of Red Sena Bhd (Red Sena) was suspended on January 16, 2019 after the SPAC failed to secure a QA by its intended deadline. Back in 2015, Red Sena made its mark as the first and only SPAC dabbling in food and beverage (F&B) to be listed on Bursa Malaysia's Main Market — the other SPACs being focussed on the oil and gas sector (O&G). The SPAC, which was listed on Bursa on December 10, 2015, had previously attributed its failure to sign a conditional sale and purchase agreement to concerns with deal certainty and unrealistic valuations. In a bourse filing on April 28, 2025, liquidators for Red Sena informed that it will be making a final distribution of RM4,913,000.50 to entitled shareholders, with final distribution on May 7, 2025. The amount to be distributed represents a cash equivalent of RM0.00614125 per ordinary share held in the company. Analysis: Difficult for SPACs to survive in current setting The outlook for SPACs in Malaysia is shaped by the regulatory landscape, but this may also be the reason for the industry's limitations. SPACs are seen as a way to attract investments in emerging industries and innovative sectors. The success of SPACs depends on supportive regulations and investor confidence. Bursa Malaysia's requirements for SPACs are considered strict by some, particularly regarding the timeframe for making an acquisition and the potential for inflated asset prices. Bursa Malaysia's requirements for SPACs are considered strict by some, particularly regarding the timeframe for making an acquisition and the potential for inflated asset prices. – Bernama photo Chua from Vision Group reiterated the Malaysian government's acknowledgements of the challenges SPACs face and has revised their framework in 2021 to provide greater access to fundraising. The revisions include: • A reduction in minimum amount of funds required to be raised by SPAC to RM100 million • Allowing the business combination via issuance of securities as considerations for the QA, instead of cash only acquisitions. • Allow venture capital professionals and seasoned private equity to lead SPACs in hopes of widening target asset universe and spur mergers and acquisitions by Malaysian Corporations. • Changing the QA approval requirement to simple majority vote of attending shareholders to minimise the greenmail issue faced by SPACs. • The minimum IPO price has been raised from RM0.50 to RM2.00 to better represent the inherent risk profile of SPAC investment to target risk-averse investors. • Warrant conversions will be capped at 50 per cent of the SPAC's total issued shared to protect dilution of existing shareholders ownership. Chua also noted that the new tax incentives from Budget 2025 called New Investment Incentive Framework (NIIF) could also attract high-value investors for SPACs if coordinated properly. But is this enough to rekindle the spark for SPACs? Chua said Malaysia's regulatory framework remains relatively conservative, presenting several hurdles to SPAC activity. Low investor confidence hinders the development of a facilitative and self-sustaining SPAC ecosystem, as liquidity is crucial for successful market development. – AFP photo These include requirements such as Malaysian SPACs are required to secure a Qualifying Acquisition (QA) within three years; and regulations mandating that at least 90 per cent of IPO proceeds be held in a trust account. 'The country also lacks a deep pool of experienced SPAC professionals, and the overall ecosystem for SPACs is still in its early stages of development,' he continued. Meanwhile, low investor confidence hinders the development of a facilitative and self-sustaining SPAC ecosystem, as liquidity is crucial for successful market development. SPACs in the US: A case study In the United States (US), SPACs are making a comeback according to the Boston Institute of Analytics in its 'Decoding SPAC 2.0: What's Different in the 2025 Revival'. 'SPACs are back with a new and improved sense of legitimacy. The world of capital markets is seeing the return of a long-abandoned financial force. 'The investment vehicle dominated the headlines during 2020 and 2021, offering an accelerated option to traditional IPOs,' Boston Institute of Analytics highlighted in its analysis. It noted that US companies from a wide variety of sectors, from electric vehicles to space tech, used this route aggressively. 'The SPAC craze, however, was not long-lasting. Poor post-merger performance, over-valuations, and mounting regulatory pressures led to a swift plummet. 'Today, in 2025, SPACs are back, but this time with a more structured form and a new sense of legitimacy. 'Market participants are calling the comeback 'SPAC 2.0' – a wiser, regulated, and investor-sophisticated version of its previous incarnation.' In the US, among the largest developments was in 2023 when the US SEC promulgated new SPAC merger rules. – AFP photo This metamorphosis presented a case study to anyone learning about investment banking or learning financial analytics, the institute said, since it provides lessons in changing deal-making, valuation, and regulation conditions in the new-age capital markets. The SPAC boom in the US between 2020 and 2021 was record-breaking, with a total of 613 SPAC IPOs bringing in over US$160 billion alone in 2021, according to data by SPACInsider. The 'blank-check' firms raised capital to send private firms to the public stage without the prolonged and rigorous IPO process. Originally conceived as a quick and cheap alternative to IPOs, SPACs soon became linked with speculative plays. A Harvard Law School Forum on Corporate Governance report pointed out how market expectations collided with operating reality. The vast majority of de-SPACed companies had their valuations collapse dramatically, and over 60 percent of SPACs were trading below their IPO prices in mid-2022. The SPAC market, which had been so highly touted, contracted swiftly. 'Compared to the early 2020s' speculative mania, the 2025 SPAC rebound is more thoughtful, driven by regulatory reform and shifting investor attitudes,' the Boston Institute of Analytics said, noting that several drivers have propelled the latest wave of SPAC action. 'In the US, among the largest developments was in 2023 when the US Securities and Exchange Commission (SEC) promulgated new SPAC merger rules. 'The rules require sponsors to make more detailed disclosures about sponsor fees, conflicts of interest, and financial estimates,' it added. 'The idea is to bring SPAC mergers in line with the discipline of traditional IPOs and reassure investors. 'Institutional investors are returning to SPACs, but with improved expectations. They are prioritizing quality deals, anticipating better governance structures, and anticipating transparency in accounting reports. 'The involvement of long-term capital has lent credibility to SPAC 2.0 and is helping bring quality private companies as merger candidates.' Market participants are calling the comeback 'SPAC 2.0' – a wiser, regulated, and investor-sophisticated version of its previous incarnation. — AFP photo Following years of macroeconomic volatility, interest rates globally are coming back down, and equity markets are rallying. For private businesses that don't want to go the whole hog with an IPO, SPACs provide a halfway house quicker than a conventional listing, but more open and accountable than private fundraisers. How can Malaysia learn from the US? In comparing Malaysia to the US, Vision Group's Chua affirmed that the US was a more attractive hub for SPAC activities as it is more matured with the mechanism of and presence of SPACs, which increases the participation of investors. 'In the US, among the largest developments was in 2023 when the US Securities and Exchange Commission (SEC) promulgated new SPAC merger rules,' he detailled. 'The US also has a larger and higher liquidity capital market. This is also supported by a more diverse pool of acquisition targets within the US. 'However, during 2022-2023, there was 93.2 per cent drop in funding. According to SPAC Insider: there were only 57 SPAC IPO counts in 2024 while there used to be 613 SPAC IPOs in 2021. 'The drastic drop in SPAC interests was due to regulations made by the SEC aimed to protect investors and improved disclosures related to SPAC IPOs and de-SPAC transactions to align the requirements and investor protections with traditional IPOs.' When asked whether the larger and more liquid capital market in the US was a key determinant for SPAC attractiveness, Chua responded with an unequivocal yes. 'Larger and more liquid capital markets enhance the attractiveness of SPACs,' he enthused. 'Additionally, a robust investor base, a diverse pool of acquisition targets, and a well-developed SPAC ecosystem, such as that in the US, are key determinants of SPAC attractiveness. 'Compared to global markets like the US, Malaysia has a smaller market size, more shallow market depth and more conservative regulations. 'The US also has a more sophisticated and developed investor culture with greater familiarity and comfort with SPACs, leading to higher participation and success rates. However, that may change due to the new regulations.' Chua further added that Malaysia is affected by the global market given the country's reliance on trade with trade partners. While Bursa Malaysia remains open with SPACs listing, the global slowdown in SPACs will be further obstacles for the demand of SPACs in Malaysia. Thus, the Vision Group managing director said Malaysia can draw valuable lessons from the US experience by adopting regulatory processes that reduce barriers to entry and foster a more facilitative framework for SPAC activities. 'The country can develop a supportive SPAC ecosystem, encompassing legal, financial, and advisory services. 'Furthermore, tax incentives, such as capital gains exemptions and reduced corporate tax rates, could attract SPAC sponsors. 'We should also encourage better transparency and accountability in SPAC operations in Malaysia.' Simplify regulations, lower barriers to entry To enhance the country's competitiveness in the SPAC market, Chua advised the government to further simplify regulatory processes to lower barriers to entry and establish a framework that supports SPAC activities. 'The government can also enhance investor education and awareness campaigns to foster confidence in SPACs,' he said. 'They can also better develop a supportive ecosystem for SPACs in terms of legal and financial services.' From a tax perspective, Chua called for tax incentives or regulatory reforms to entice more SPAC investments into Malaysia. 'Tax incentives such as exemptions on capital gains and reduced corporate tax rates could attract SPAC sponsors. 'The new tax incentives from Budget 2025 called New Investment Incentive Framework (NIIF) could also attract high-value investors for SPACs as well.' When asked if Malaysia should focus on specific sectors to attract SPAC activity, Chua said Malaysia possesses a natural competitive edge in industries such as food security – specifically on halal food – as well as healthcare and wellness industry. Malaysia possesses a natural competitive edge in industries such as food security – specifically on halal food – as well as healthcare and wellness industry. — Bernama photo 'SPACs can help more players within these high potential industries reach their full potential via the capital markets,' he said. 'The renewable energy sector may also benefit from SPAC activity, especially in Sarawak where the energy is greener and cleaner compared to most of the neighboring regions. 'In my opinion, four sectors specifically benefit: alternative (non-bank) financial services, food security, future technologies (artificial intelligence (AI) technologies, systems and AI data centres) and healthcare & wellness will benefit from enhanced capital access through SPAC acquisitions.' Chua also underscored the role of public-private partnerships (PPPs) significantly enhancing SPAC attractiveness. For instance, he explained that government participation as sponsors or cornerstone investors, and the involvement of government-linked companies in providing SPACs with reliable acquisition opportunities, can be beneficial. These partnerships can also streamline the regulatory approval process. Furthermore, public sector partners can offer risk-sharing arrangements and improved information access, which is particularly appealing to risk-averse investors. special purpose acquisition companies
