CLIQ shareholders to receive final distribution on Jan 31 

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KUALA LUMPUR (Jan 3): Shareholders of CLIQ Energy Bhd will receive the final distribution of the remaining monies held in its cash trust account on Jan 31, it said in a Bursa Malaysia filing today.

The special purpose acquisition company (SPAC) had on Dec 17 obtained tax clearance from the Inland Revenue Board, clearing its final hurdle for the final distribution of the remaining monies.

CLIQ, which is the second oil and gas SPAC to list on Bursa, was ordered to be liquidated by the Securities Commission Malaysia after the regulator declined its request for more time to make a qualifying acquisition in February 2016.

This was followed by three failed attempts by its major shareholder Best Oracle Sdn Bhd to stop CLIQ's liquidation process. Trading in its shares was suspended on Oct 5, 2016.