Not much hope in Albedo's Iskandar deal going through

PRETTY much no one seems to think that Catalist-listed Albedo's mammoth $1.86-billion Iskandar land deal involving a reverse takeover by Malaysian tycoon Danny Tan will stick.

Since signs emerged in mid-March that Albedo's transformational deal was on rocky ground and Mr Tan has had a change of heart, the counter has tanked to near lows of 1.1 cents, ending at 1.3 cents on Monday.

At current levels, a far cry from a high of 7.6 cents it reached in September last year and, more recently, 5.2 cents reached in mid-March this year, Albedo is a stark reminder on the perils of investing in penny stocks on the back of deals yet to be closed.