Infinite Rewards: We're committed to Albedo RTO

THE vendor of Reflections Oasis Inc, the company that steel trader Albedo is trying to acquire in a reverse takeover (RTO) deal to transform itself into a property play, has stressed its commitment to see the deal go through.

Executives from Infinite Rewards Inc, which controls Reflections Oasis, made this point when they met the media yesterday. Albedo is trying to buy Reflections Oasis, which holds seven land parcels in Gelang Patah in Johor, for $774 million by issuing 34.6 billion shares.

Leong Choon Meng, executive director for corporate finance at Infinite Rewards, pointed to the roping in of well-known names for the RTO deal as a signal of intent.